Price Analysis

Bitcoin (BTC) Shows Variations In The Range Of $300 In 6 Hours

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  • Bitcoin has shown four major price variations in the last six hours.
  • The closing value of BTC for today is likely to be 11,950 USD.

Bitcoin has been the first choice of many speculators and short-term traders due to its high volatility. It is one of the best coins in terms of giving returns in a stipulated time frame. Here is an analysis of Bitcoin’s price movement in the last 6 hours. This analysis may help short-term traders to re-strategize.

BTC Price Statistics-

Bitcoin Price Chart - 4 July
Bitcoin Price Chart
Bitcoin (BTC) 04th July 08:24 UTC
Rank 1st
ROI (Return on Investment) 8,569.52%
Coin Circulation 17,797,187 BTC
Market Cap 208,045,814,214 USD
Value in USD 11,726.71USD
All-Time High 20,089 USD
24h Volume 28,856,803,390 USD

BTC to USD Price Comparison-

In these last 6 hours, Bitcoin has faced four major price swings. The first one was a hike of 0.78% in which the coin added 92.18 USD trading from 11873.18 USD to 11965.36 USD between 02:23 UTC and 02:52 UTC. Then the coin faced a steep fall of 2.71% to trade from 11959.35 USD to 11634.05 USD between 03:17 UTC and 05:43 UTC. It was then followed by a short stint of increment.  The coin gained 1.80% or 209 USD trading from the latter to 11844.46 USD between 05:43 UTC and 07:15 UTC. The latest one was a dip in the price of 1.76%. This dip happened between 07:15 UTC and 08:05 UTC. This final dip cost the coin 208 USD.

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Bitcoin Price Prediction-

The short-term outlook of Bitcoin is bullish. The coin is likely to be around 11,950 USD by the time Bitcoin closes for the day.

Conclusion-

Bitcoin’s closing is likely to rise from its current value. Investors need to put the target anywhere near 11,900 USD to yield maximum returns.

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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