Bitcoin (BTC) Gains Little Despite Four Swings over 5 Hours

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  • Bitcoin (BTC) has shown four huge price swings in the last five hours.
  • The closing price by the end of the day is likely to be around $10,500.

Bitcoin has gone below 10,000 USD in the past 24 hours. It was just a matter of days when the coin gained distinctly and got pushed from 8000 USD to 13,500 USD. And the coin is now seeing its downfall. However, there have been four major price variations in the last 5 hours. Here is an analysis of the price movement of Bitcoin in the last 5 five hours to help the short-term traders and intraday traders.

BTC Price Statistics-

Bitcoin Price Chart - 2 July
Bitcoin Price Chart
Bitcoin (BTC) 02nd July 08:53 UTC
Rank 1st
ROI (Return on Investment) 7,408.82%
Coin Circulation 17,792,862 BTC
Market Cap 174,159,046,451 USD
Value in USD 10,205.00 USD
All-Time High 20,089 USD
24h Volume 28,478,156,305 USD

BTC to USD Price Comparison-

Bitcoin faced a huge dip of 5.40% between 04:03 UTC and 04:38 UTC trading from 10339.50 UTC to 9781.42 UTC where BTC lost 558.08 USD. It was followed by another small dip of 1.68% between 05:03 UTC and 05:17 UTC. This dip cost the coin 167 USD trading from 9927.23 UTC to 9760.05 UTC. However, a small rise can be noticed between 06:10 UTC and 06:24 UTC. This hike enabled the coin to gain 150 USD or 1.55%. There was another huge hike of 4.40% between 08:03 UTC and 08:48 UTC. The coin has got 431.49 USD in these 45 minutes.

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BTC Price Prediction-

The short-term outlook of Bitcoin is bullish. As per our prediction, the coin is likely to be around 10,500 USD by the closing period. There might be a number of variations in this period.

Conclusion-

Bitcoin is likely to rise slightly before closing; hence, investors are advised to wait for the correct time to reorganize their investments.

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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