Price Analysis

Bitcoin Intraday Price Analysis: BTC Suffers from Intraday Price Drop

Bitcoin price is presently slipping from its opening price. The price drop is considered as selling pressure and is expected to bounce back soon due to its forerunner capabilities and qualities.

Bitcoin recently suffered from a price drop and was showing some recovery sign from the last two days. The coin also acted as an anchor for many altcoins and pulled them out of the price drop. Although the price couldn’t do well on the in the intraday trading after the midday today, we are expecting the prices to improve in the near future.

Bitcoin Price Statistics:

Let’s have a look at the current statistics:

  • Bitcoin ranks at the 1st position in the crypto market.
  • As on 11th June 2019, at 11:40:54 UTC, the price of Bitcoin is $7768.4.
  • Return on Investment of Bitcoin is 5,678.65%.
  • The market cap is 138,800,856,161 USD.
  • The 24hr volume is 17,112,072,406 USD.
  • The circulating supply is marked as 17,752,850 BTC.

The chart is taken from Trading View on 11th June 2019, at 11:40:54 UTC for price analysis.

Bitcoin price chart - june 11

Bitcoin opened at $8047.5. The coin tried to maintain the price but dropped. The price struggled to keep up the resistance level at $8000 and the support level at $7900, but at 07:19 UTC the price was trading a little above the support level and touched the price at $7904. The price suffered at a drop at 10:06 UTC of about 1.6% from $7940 to $7808. Bitcoin is presently dealing at $7761. If we compare the current price with the opening price, the regression would be marked around 3.46%.

BTC Price Prediction and Conclusion:

Bitcoin holds its top position in the market very firmly. The coin is a sure shot investment as compared to any other coin in the crypto market when looking in for handsome investments and returns thereby. The future business strategies seem promising, and hence, we are assuming that in the coming days, Bitcoins will give good results.

The long-term and short-term investors can go for Bitcoin. The intraday investors will soon recover their existing loses.

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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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