Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) Breaches Resistance; Is $11,000 The Next Target?

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  • Bitcoin (BTC) has gained 3.66% in the last one day.
  • The target for 2019 remains around 15,000 USD to 20,000 USD.

Bitcoin has been consistent on the front of recovering from the last month’s downfall. Over the last 24 hours as well, Bitcoin has gained 3.66%. With four notable price swings, Bitcoin has finally moved beyond 10,800 USD. However, the medium-term outlook of the coin is bullish and it has very high chances of trading between 15,000 USD to 20,000 USD by the end of this year. Let us find out the current statistics of the coin.

BTC to USD Price Statistics-

Bitcoin Price Prediction- August 03
BTCUSD Price Chart by TradingView
Bitcoin (BTC) 3rd August 03:27 UTC
Rank 1st
ROI (Return on Investment) 7,870.79%
Coin Circulation 17,854,175 BTC
Market Cap 192,025,701,130 USD
Value in USD 10,820.32 USD
All-Time High 20,089 USD
24h Volume 17,827,812,399 USD

BTC to USD Price Comparison-

Bitcoin started the day by trading at 10,402.04 USD on 2nd August. At 00:31 UTC, the coin started growing and touched 10,576 over 7 hours. This 2.37% growth was followed by another push which made the coin to gain 1.98% or 207 USD and by 16:13 UTC; it was being traded near 10,669 USD. And between 16:13 UTC and 21:14 UTC, Bitcoin degraded its value by 2.87% and reached 10,363 USD. Bitcoin closed the day near 10,500 USD. The latest was a high growth of 4.49% which placed Bitcoin at 10,827 USD from 10,362 USD.

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BTC Price Prediction-

Bitcoin, as a growing coin has high chances of fetching an exceptional growth over time and trading around 15,000 USD to 20,000 USD by the time this year ends. Below are the details of the resistances and supports of the coin.

Bitcoin (BTC)
1st Resistance 10660.41 USD
2nd Resistance 10802.65USD
3rd Resistance 10947.35USD
1st Support Level 10373.47USD
2nd Support Level 10228.77USD
3rd Support Level 10086.53USD
Conclusion-

Bitcoin is taking steps in the right direction and from 10,800 USD it may take one week’s time to reach 12,000 USD. Intraday traders may get immense returns from the coin.

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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