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Price Analysis

Bitcoin Price Analysis: BTC Is On The Rise

Miles To Go to Touch the Monthly-High For Bitcoin

  • Bitcoin (BTC) is likely to take some more time to breach the monthly high of 13,000 USD.
  • The year’s end target should be set at 15,000 USD.

BTC, as the top coin of the sector, has started pioneering the whole market. After days of struggle, the Bitcoin price has finally found its way out of the slowdown. Exactly before 1 week, the coin was being traded near 9000 USD, and now it is racing with its full might towards 12,000 USD. It may take some more time to reach the monthly highest point at 13,000 USD. But the medium-term outlook hints at 15,000 USD price mark by the end of 2019. Let us find out the current details of the coin before analyzing the price pattern.

BTC Price Statistics-

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC)5th August 03:00 UTC
Rank1st
ROI (Return on Investment)8,397.48%
Coin Circulation17,858,375 BTC
Market Cap204,378,139,981 USD
Value in USD11,604.13 USD
All-Time High20,089 USD
24h Volume18,852,744,916 USD

BTC to USD Price Comparison-

Bitcoin price was at its peak on 10th July when it touched 13,078 USD. Experts were predicting a growth like June, but the price of Bitcoin shocked everyone by showing a steep fall over the next week, and it was traded to 9200 USD. However, later the btc price started strengthening and could swing to 11,012 USD by 20th July after gaining 19.89%. The third big variation was another decrease in the value by 16.34% between 20th July and 28th July. This blow again took the coin to its previous low of 9100 USD. However, since the past 7 days, Bitcoin’s value against USD is raising. With almost 27% increment, the coin is now 2409 USD ahead of its 28th July price. The market cap on 5th July was 198,624,585,150 USD, and the value of each coin was 10,826.20 USD.

Bitcoin Price Prediction –

Looking at the current btc price trend, it can easily be said that the coin is likely to experience a price rally. And this movement will place the coin to 15,000 USD before the year ends.

Bitcoin (BTC)
1st Resistance11112.83 USD
2nd Resistance11255.48 USD
3rd Resistance11501.76 USD
1st Support Level10723.90 USD
2nd Support Level10477.63 USD
3rd Support Level10334.97 USD

Conclusion-

Bitcoin, as the most promising coin, will continue to receive patronage from the big investors. On the rising path, it is likely to profitable for both short-term and long-term investors.

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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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