Price Analysis

Bitcoin (BTC) Shows Positive Signs With Humongous Escalation in its Price

Bitcoin has often taken the burden of embarking price rally during the time of crisis. It has shown a remarkable movement of price over the years. The ongoing year has also brought a similar situation for the coin. The escalation marked in the BTC price from the inception of 2019 till now is enormous. The coin is expected to bring more profit to the traders by the end of the year.

BTC to USD Price Comparison

The chart is reflecting an uptrend in the coin. Bitcoin opened the year at $3997.5. In January, BTC booked a loss of 12.52%. The price switched from $3997.5 to $3476.8. From February, the coin started taking a high road. BTC price jumped from $3476.8 to $3917.4. The progression was of 12.67%. In March, the escalation continued, and the price changed from $3917.4 to $4518 by 14.82%.

In April, Bitcoin price escalated from $4518 to $5639.4 by 24.82%. In May, BTC price jumped from $5639.4 to $8602.9 by 52.55% and then, in June, the escalation took the Bitcoin price to $10645.4 from $8602 by 23.74%. July brought a slight drop in the price of Bitcoin. The coin slipped from $10645.4 to $10425 by 2.07%. In August, BTC price dropped from $10425 to $9724.3 by 6.53%. The ongoing month has again pumped up Bitcoin. The coin is already dealing at a 9% profit as the coin has jumped from $9724 to $10625.

Bitcoin Price Chart

The chart is taken from TradingView on 11th September 2019 at 04:10:22 UTC.

Bitcoin price chart
BTC Chart by TradingView

Bitcoin Price Prediction

BTC has opened today with a downside movement and it is expected to remain the same for the rest of the day. Bitcoin is likely to rise in the coming days. The month holds high expectation.

As per past data and current price trend, it seems that BTC would close the year by reaching up to $15000. The future of Bitcoin is bright and hence, investing in it would give a huge return.

Bitcoin is expected to give the best result to the long-term traders. The short term wouldn’t be as flourishing as the long-term. The coin is likely to bring a colossal profit to the investors over the time so sticking around it would be a better decision.

Tags

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.
Back to top button
Close