Price Analysis

Bitcoin (BTC) Continues Moving Upward With A Slight Intermediate Dip In The Bearish Zone

BTC is still giving a good push in the uptrend. Although, in between dips are evident as the market condition is still the same, but the way it is making its effort to hold on to this trend is noteworthy. Moreover, as all other altcoins are losing their worth to BTC now and then, it has now become important for the same to get traded in the bull range so that all other altcoins are positively impacted.

Current Statistics of Bitcoin:

  • Price in USD: 13085.0 USD (02:19 UTC)
  • Circulating supply: 17,809,600 BTC
  • Market cap: 230,929,141,294 USD
  • 30 Day High / Low: 13,796.49 USD / 7,772.80 USD

Bitcoin Price Prediction:

Bitcoin Price Prediction
Bitcoin Price Chart

From the above 1-month chart of BTC, it is evident that although the bullish trend is not very strong enough, still it is trying its best to hold its value up in this intense, volatile market. On 7th June, Bitcoin traded as low as 7457.5 USD, but on 27th June, it had a good peak of 13678.7 USD. A great shift in its prices is seen considering these two price points. Since the night of 22nd June, BTC is trying hard to hold on to the bullish trend, but as the market condition is still very unsupportive and volatile, slight declinations towards the bearish trend are inevitable. The major resistance of Bitcoin is 13,370 USD. Currently, BTC is trading lower than this amount. Within a span of 1 month, the value of BTC has been increased by 75.46% with 12320.93 USD as one of its good support levels. Considering the above price analysis, we assume that in the upcoming days, BTC can trade around $12,413.68.

Conclusion:

BTC is not only the most dominant cryptocurrency in the crypto market, but it impacts every other altcoin too. So, keen investors who are willing to spend on both BTC and any other altcoin should be vigilant regarding BTC’s trading movement as this can help them to take an effective decision. So far, the current situation is concerned; BTC is not suitable to invest in for a long term basis.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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