Price Analysis

Bitcoin (BTC) Loses 13% in 30 Days; No Quick Recovery is Likely

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  • Bitcoin is down from 11,900 USD to 10,300 USD in the last 30 days.
  • No quick recovery seems possible for the coin.

Bitcoin is currently trading around $10,300 mark after a free fall from $10,900 a few days back. The coin has shown immense volatility in the last 30 days. From $11,900 price point, BTC has shown four significant price variations and reached $10,300. Before analyzing the Bitcoin price swings, let us look at the current details of the coin.

Current Statistics of Bitcoin:

Bitcoin (BTC) 9th September 02:50 UTC
Rank 1st
ROI (Return on Investment) 7,602.38%
Coin Circulation 17,924,325 BTC
Market Cap 186,763,146,592 USD
Value in USD 10,345.66 USD
All-Time High 20,089 USD
24h Volume 13,542,121,156 USD

Bitcoin to USD Price Comparison:

BTC Price Prediction
BTC Price Chart by TradingView

The first swing of the month started on 9th August and over the next 5 days, the BTC lost 19.77%. This fall took the coin from $11,929.79 to $9570.92. This was followed by a hike in the Bitcoin price by 14% and the coin added $1339.79 by 19th August. The third swing of the month happened between 19th August and 29th August and this fall had a break on 25th August. This fall is responsible for pushing the BTC price to its lowest point at $9426.08 on 29th August. From there, Bitcoin saw some decent growth and with the help of a 15.63% increment, the coin reached $10,905.54 by 06th September. The current value is a devaluation of $600. The market cap of Bitcoin on 9th August was $211,305,851,156 and the price was at $11,929.79. The current market cap and the value of BTC coin are respectively 11.64% and 13.27% less than the figures for the last month.

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BTC Price Prediction:

Bitcoin might have faced a setback for now; this is not a permanent one. The coin is likely to have a bullish run in the short-term. A price rally may help the coin to touch its monthly high. The next probable resistance and support levels are listed below.

Bitcoin (BTC)
1st Resistance 10554.91667 USD
2nd Resistance 10668.55333 USD
3rd Resistance 10741.46667 USD
1st Support Level 10368.36667 USD
2nd Support Level 10295.45333 USD
3rd Support Level 10181.81667 USD

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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