Bitcoin (BTC) Price Predictions: Experts are Optimistic of a Bullish Trend Throughout the Year, Might Touch $7,000 Mark by December

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Bitcoin (BTC) is a peer-to-peer transaction technology that uses a decentralized consensus network which acts as a substitute for the conventional payment mechanisms. Bitcoin (BTC) allows a fully digital currency exchange. In addition to that Bitcoin doesn’t require any central authority to operate. On October 31st, 2008, a group of an individual pseudonym as “Satoshi Nakamoto” published the Whitepaper of Bitcoin. In their own words, Bitcoin is a purely peer-to-peer version of electronic cash allowing a user to directly interact with each other and exchange online payments without going through a financial institution and paying a minimum amount of transaction fees.

Bitcoin According to Coinmarketcap, on April 18, at UTC 06:34, the market capitalization of Bitcoin (BTC) was around 93,137,778,431 USD. At the same time, Bitcoin’s last 24 hours trading volume was approximately 17,496,682,230 USD with a total circulation supply of 17,666,000 BTC chips. Rulings the cryptocurrency ranking chart, Bitcoin’s Return on Investment (ROI) rate is 3,796.64%. On April 01, Bitcoin was trading at $4,158.18, since then it made a substantial amount of growth and today after 25-days, its current value is 5,271.67 USD with a cumulative hike of 26.7%.

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Let’s have a look at historical fluctuations in the price of Bitcoin (BTC):

Time Period High Low
All-Time 20,089.00 USD
(Dec 17, 2017)
65.53 USD
(Jul 05, 2013)
Yesterday 5,542.24 USD 5,181.34 USD
7-days 5,642.04 USD 5,177.37 USD
30-days 5,642.04 USD 4,034.10 USD

Yesterday was a flat trading day for Bitcoin (BTC) as it opened at 5,466.52 USD and wrapped up the day at 5,210.52 USD, with an intraday loss of 256.01 USD (-4.68%). The total trading volume of Bitcoin for the previous day was 15,330,283,408 USD.

Prediction:

Having a joy ride because of the cutting edge technologies like open-source, public availability, no controlling or governing body and open for all kind of services, Bitcoin (BTC), almost 11 years have passed since its launch, is ruling the crypto market and its popularity is intact as well. Within a short period of time, Bitcoin price grew significantly; making the BTC/USD pair quite popular among active traders and crypto investors. According to various analysts and experts, Bitcoin is showing a bullish pattern, and it will continue its march in Q2 of 2019 as well. Earlier, on April 18, we predicted that there was a mild resistance at 5250 USD, however, in just a few days, Bitcoin (BTC) broke the resistance level and touched the $5,270 mark. Following the same pattern, the new resistance level is at $5,300 and the support level is $5,270. It is most likely that Bitcoin will make an imminent breakout to the upside. If the current bullish trend persists (which is most likely going to happen), by the end of 2019, Bitcoin may trade around $7,000.

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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