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Price Analysis

Bitcoin (BTC) Price Soars Again: Will Bitcoin Beat its Own Benchmark?

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You can call it a trendsetter, an innovator, a payment substitute or even a leader of cryptocurrencies.  We simply like to call it ‘technology-at-its-best.’  The blockchain-based crypto coin, which was incepted over 11 years back under the pseudo name Satoshi Nakamoto, has kept the interest and enthusiasm alive till date which has only grown over the years. It has been a source of inspiration for many other altcoins now trading in the market. The crypto works on a simple peer-to-peer approach making the existence of any middlemen to complete the transaction fully irrelevantly. The digital currency has widely been accepted & adopted by many merchants and businesses, and the prices are moving in the upward direction once again.

Current Statistic:

BitcoinAs on April 19, 2019 at 12:04:00 UTC, the market cap of BTC was recorded at $ 92,849,806,535 USD, the price has reached at $5,259.59 USD and 24 h volume is at $12,910,588,339 USD.  The first-of-its-kind continues to enjoy number one position in the top 100 CoinMarketCap list with Ethereum (ETH) on its trail. The circulating supply stood at 17,653,425 BTC as against the total supply of 17,653,425 BTC. The ROI is quoted to be 3,787.59%. The market sentiment looks positive now for the price to soar higher by over 10X in the coming days.

Comparison:

If we compare the last one month data with the current scenario, we see an uptrend of over 29%. The market cap on March 20, 2019 at 05:34:00 UTC was $71,640,731,525 USD, price stood at $4,070.79 USD and 24h volume was 9,285,331,039 USD.  Additionally, yesterday’s highest had reached as much as USD 5,319.99, and the lowest was recorded at USD 5,250.51. The pattern has not varied much in the last 30 days and has been consistent throughout. The price reached as high as 5,411.56 USD on April 11, 2019, at 01:34:00 UTC. It is only a matter of time for the crypto to beat its record high of USD 20,089.00 (Dec 17, 2017) and the crypto community seems to be vouching for it like never before.

Prediction:

When the experts start vouching & placing their bets openly, it’s not wrong to say that the best times are not far behind. BTC has been the poster boy since its inception but now gaining more popularity & support from the experts. Elon Musk, the founder of SpaceX and Tesla and technology enthusiast, backed Bitcoin by calling it a brilliant way to transfer value. Wenses Casares, CEO-Xapo and Paypal Board Member, says that BTC will surge to over 250 times in the next 2 years. John McAfee, founder of McAfee software also predicts the same. February 2019 saw NASDAQ listing Bitcoin indices on its platform providing real-time data on the prices. So, if you have not yet boarded the crypto train yet, now is the time to invest & buy as the market certainly looks promising in the coming years for Bitcoin.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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