BitcoinPrice Analysis

Bitcoin (BTC): Price Analysis, Nov. 20

The crypto major – Bitcoin (BTC) has experienced major downwards since the beginning of this year which can best be judged from the following analytics. The first ranked by market cap that stands at $77,808,617,487 with price traded at $4475.56 as per CoinMarketCap on 20th November 2018 at 3:22 pm IST.


At the beginning of this year, the BTC/USD pair was observed at the highest at the level sought by any long-term as well as short-term investors from the aforesaid graph. It soared high in January 2018 until the first week of February 2018, however, keeping its position above the moving average trend line which signaled for ‘uptrend’ in the market. However, this gimmick was for the time being. From the aforesaid chart with the blue horizontal line at the level of $11950 was the second highest where again this crypto major touched the second peak at $11643 on 1st March 2018. The entire scenario for this innovative virtual leader has been highly fluctuated, however whenever it soared again it would touch at the level high above the moving average trend line as analyzed from the aforesaid analytics. Which clearly shows that the value of this currency became volatile due to macro fundamentals globally. Amid the entire scenario which can be observed from the aforesaid graph, the next orange horizontal trend line at the level of $9936.1 on 6th May 2018. This is followed by the pink and brown horizontal lines where the trends in between them have supposedly fluctuated. Those who are poised to gain long-term profitability have to follow the ‘Wait and Watch’ approach until the beginning of January 2019. Those that would like to invest into this crypto major, they may buy it and hold it for a medium to long-term perspective!!


Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.

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