Price Analysis

Bitcoin Price Analysis: After A Certain Downfall, Bitcoin (BTC) Is Steadily Picking Up Its Momentum

BTC is slowly but steadily rising higher, which is indicating positive hopes

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BTC is the most dominant coin in the crypto sphere and depending on its fate, all other altcoins either adversely suffer or raise their values to a significant level. As evident from the conditions of the crypto market for the past few months that bearish ranges are highly dominant for Bitcoin and also for all other altcoins. Due to this, many altcoins have been substantially losing their worth to BTC every then and now. Now that Bitcoin is peeping up in the safer bullish zone, it is expected that good days may knock the fate of all other altcoins as well as for BTC.

Bitcoin Price Chart - 9 July 2019

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BTC to USD Price Comparison

From the 1-month Bitcoin chart, it is seen that on 9th June, its value was as low as $7573.82. It continued to pertain on this range at a stretch till 22nd June 2019 with no peep ups in the bull trend in between. It started trading higher from the night of 24th June and substantially reached a peak of $13802.71 USD on 26th June. It has been trying to hold on to its bull trend since then, but there were slight price downs at intermediate periods of its price trends. Considering yesterday values of Bitcoin, its pivot point is 12,010.00. And, its immediate resistance is 12572.12 USD. Looking at its current price, it is assumed that it can easily cross this resistance level and can spike up higher. Even, within the 1-month period, the Bitcoin price has been raised by 68.21%, which is strikingly amazing.

Summary of Bitcoin Statistics:

  • BTC Price in USD: 12739 USD (05:10 UTC)
  • Circulating supply: 17,807,612 BTC
  • Market Cap: 226,108,305,920 USD
  • 24-Hour Volume: 26,709,189,583 USD

Bitcoin Price Prediction & Conclusion:

In the concluding note, it can be said that although BTC is rising higher it is not assured that it can pertain its positive trend for a much longer period or that, its bearish range will less impactful. The market condition, still very highly volatile, any good results are definitely not guaranteed; rather, awareness must be maintained from the side of the investors before taking any decision regarding investing in Bitcoin.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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