Bitcoin Price Analysis: Bitcoin (BTC) Breaches The $11,000 Barrier To Trade Persistently

  • Bitcoin reaches the 11,000 USD mark, more to add in future.
  • The target price of 2019 should be revised to 15,000 USD.

The leader of all coins, Bitcoin, has finally reached the 11,000 USD barrier point, this time to trade persistently above the same. A lot many stakes were raised about Bitcoin’s price movement and an upcoming price correction phase.

Yesterday at around 01:30 UTC the coin started gaining and stopped after getting hiked by 2.41% in 3 hours and 49 minutes. The next hike of 2.49% happened between 06:51 UTC and 10:20 UTC. Another huge hike of 2.87%, which is credited for pushing the coin beyond 11,000 USD happened between 13:35 UTC and 16:44 UTC. There was a final push of 2.95% between 20:49 UTC and 00:07 UTC of today, which made the coin go beyond even 11,100 USD.

The medium-term outlook of the coin is bullish, and by the end of this year, the coin is likely to get as high as 15,000 USD. Let us analyze the current details of the coin.

BTC Price Statistics-

Bitcoin Price Chart - 25 June
Bitcoin Price Chart
Bitcoin (BTC) 25th June 01:54 UTC
Rank 1st
ROI (Return on Investment) 8,088.44%
Coin Circulation 17,778,812 BTC
Market Cap 196,671,189,080 USD
Value in USD 11,108.05 USD
All-Time High 20,089 USD
24h Volume 18,794,737,456 USD

BTC to USD Price Comparison-

Post the April boom, Bitcoin has performed with great consistency, and this is the period which pushed the coin to beyond its limit.

There was a hike of 61% which happened between 25th April and 15th May from the trading price of 5104.07 USD to 8189.46 USD which for the first time in 2019, pushed the coin beyond 8000 USD mark. It was followed by a small dip of 11.10% which happened in 3 days that led the coin to trade around 7280.81 USD. Again, a small dip of 12.33% was noticed between 2nd June and 04th June. However, it was followed by a hike of 22.17%, which happened over 13 days.

Presently the price is hovering around 11,100 USD mark. The market cap on 25th May was 142,211,534,112 USD, and the value of each coin was 8079.94 USD. The current market cap and the value of each coin are respectively 38.29% and 37.47% more than the values of the last month.

BTC Price Prediction-

The medium-term outlook of Bitcoin seems bullish. As per our prediction, the value of each coin is likely to be around 15,000 USD by the end of this year. The next resistance points are 11181.19 USD, 11351.28 USD, and 11636.66 USD. The support levels are 10725.72 USD, 10440.34 USD, and 10270.25 USD.

Conclusion-

Bitcoin is providing good yields to the short-term traders. Long-term holders need to target 15,000 USD by the end of this year. Find more details about Bitcoin predictions from our forecast section.

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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