Price Analysis

Bitcoin (BTC) Falls by More than $200 over 7 Hours; May close Near $11,520

  • Bitcoin has shown five huge price variations in the last 7 hours.
  • The closing price may get as high as 11,520 USD.

Bitcoin’s latest growth has attracted a huge number of speculators and short-term traders. The unprecedented ups and downs have given huge space and opportunities of the short-term traders to make returns. Here is an analysis of Bitcoin’s price movement in the last 7 hours to educate the traders about the price trend and possible price trend. The coin has shown huge price variations in these seven hours, but the short-term outlook stays bullish for Bitcoin. Let us look at the current details of the coin.

BTC Price Statistics-

Bitcoin Price Chart - 3 July
Bitcoin Price Chart
Bitcoin (BTC)03rd July 09:31 UTC
Rank1st
ROI (Return on Investment)8,077.90%
Coin Circulation17,795,075 BTC
Market Cap196,903,334,484 USD
Value in USD11,100 USD
All-Time High20,089 USD
24h Volume31,162,387,167 USD

BTC to USD Price Comparison-

Bitcoin has shown five major price swings in these seven hours. The first swing is a fall of 1.87% in which the coin lost 211.80 USD. It was followed by a slight increment of 279 USD or 2.51% over the next 1 hour and 3 minutes. Then again between 04:59 UTC and 05:33 UTC, the coin gained a whopping 2.74% or 308 USD, and after this hike, the coin fell down by 2% losing 231 USD. The latest swing was an abrupt and steep fall of 4.29% and the coin lost 492 USD during this fall, which lasted about almost 1 hour and 40 minutes.

Bitcoin Price Comparison-

As per our prediction, Bitcoin is likely to have a bullish short-term price movement. The coin may reach 11,520 USD by the time Bitcoin closes for the day.

Conclusion-

Investors need to trade cautiously, keeping the probable closing price in mind. Bitcoin is likely to show much more volatility in the market in the coming times.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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