Price Analysis

Bitcoin (BTC) Goes Beyond $10,000; Miles to Go before Touching Month’s High at $12,200

  • Bitcoin touches 10,000 USD after the last few days of struggle.
  • The next resistance of BTC may come at 10,466 USD.

Bitcoin has shown four significant price variations over the last 24 hours, and it has made a journey from 12,200 USD to 9,500 USD in this period. From 20th August, the coin has been reeling under pressure, and now it has touched 10,000 USD after crawling behind it for two days. Before analyzing the BTC price movements of the month, let us look at the current details of the coin now.

Current Statistics of Bitcoin:

Bitcoin (BTC)23rd August 04:23 UTC
Rank1st
ROI (Return on Investment)7,407.33%
Coin Circulation17,891,550 BTC
Market Cap181,890,672,483 USD
Value in USD10,153.08 USD
All-Time High20,089 USD
24h Volume15,691,284,712 USD

BTC to USD Price Comparison-

BTC Price Prediction
BTC Price Chart by TradingView

Between 23rd July and 28th July, Bitcoin made a journey from $10,266.99 to $9169.23. From this gradual decline, BTC price started strengthening, and with a hike of 33.42%, the coin reached $12,233.57 after adding $3064 by 06th August.  However, it was followed by a steep fall of 21.75% that took the coin to $9568.41 by 15th August. The third variation came as a small incline in the value, between 15th August and 20th August, the coin got a hike of $1350 to reach $10,906.86. The last swing happened over 2 days from 20th August, and this devaluation of 9.91% pushed the coin to $9820.84. The market cap on 23rd July was 180,604,612,838 USD, and the value of each coin was 10,266 USD. The current market cap and the value of each coin are respectively 0.71% more and 1.09% less than the figures for the last month.

Bitcoin Price Prediction-

Coin’s highest value for the month is at 12,200 USD, and now it is almost 2000 USD behind this point. Being the top coin of the market, BTC is likely to bounce back soon and it has a high chance of breaching the month’s high by the mid of September. Below are the details of the next probable resistance and support levels.

Bitcoin (BTC)
1st Resistance10298.88667 USD
2nd Resistance10466.71333 USD
3rd Resistance10700.42667 USD
1st Support Level9897.346667 USD
2nd Support Level9663.633333 USD
3rd Support Level9495.806667 USD

 

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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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