Bitcoin Price Analysis: Bitcoin (BTC) Is No Less Than A Sensational Currency

Bitcoin the anchor of the crypto market crosses $11,000, while currently ranging between $10,600 to $10,950. Facing a sway between the said range certainly will take days for BTC price to trade above $11,000 persistently.

It was 15 months ago when BTC had manifested an $11,000 price mark. Now that it has set a new record, it is expected to surge higher than the Bull Run of 2017 helping potential investors to binge the market.

Bitcoin Price Analysis: Bitcoin (BTC) Is No Less Than A Sensational Currency
Bitcoin Price Chart - 24 June
Bitcoin Price Chart

Looking at the growth statistically, BTC is presently trading at $10,813.01 at 5:44 UTC as on 24th June with a total Market Capitalization of 189,965,917,393 USD, enticing other coins to pump the crypto market by a total of $25 billion and beyond.

Bitcoin Price Comparison:

As per the stated time frame, it is observed that Bitcoin price was moving stably for good 1 hour without major price points on fleek. It was around 4:40 UTC that the price got an upward momentum showing an increase of 1.15% to trade from $10656.38 to $10778.62 in just 23 minutes. Post which it again started moving with a steady momentum as it had before the said change.

Bitcoin Price Analysis: Bitcoin (BTC) Is No Less Than A Sensational Currency

Technical Indicators:

When analyzed technically, in the past two hours, Bitcoin spikes fueling the Moving Average Convergence Divergence (MACD) with a bullish crossover above the 9-days EMA. The 6-day SMA lies above the 20-days SMA as the major chunk of the growth is from the last week.

BTC to face resistance at $11215 with a marked support level at $10525.6. The said support level is well backed by the range within which it is majorly trading from the past 24 hours.

BTC Price Prediction:

Accordingly to future BTC forecast, the BTC trend synthesizes an upwards momentum to price above $11,000 and beyond constantly. The weekend adrenaline has rushed through the nerves of the anchor to cascade the market as it is expected to touch $15000, which prior to the current Bull Run was predicted to be hovering around $12000.

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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