Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) Loses Big Overnight; Bounce Back May Take Some Time

  • Bitcoin has shown five huge price swings in the last 1 month.
  • The target for 2019 should be at 15,000 USD.

Bitcoin is taking one step at a time away from stability. The coin which has gained enormously in the last few months has started falling back. In the last 24 hours, the coin has shown a significant steep fall which has pushed the coin to 10,000 USD from 11,000 USD. Though the coin has a bullish medium-term outlook, the short-term period may have some difficulties for Bitcoin. By the end of 2019, the coin is likely to be around 15,000 USD. Let us look at the current details of the coin first.

BTC Price Statistics-

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC)15th July 02:42 UTC
Rank1st
ROI (Return on Investment)7,366.38%
Coin Circulation17,818,150 BTC
Market Cap178,564,335,496 USD
Value in USD9,996.74USD
All-Time High20,089 USD
24h Volume24,575,550,303 USD

BTC to USD Price Comparison-

In the last 30 days, Bitcoin has shown five huge price swings. The first one is a hike. This hike made the coin to gain 4894 USD or 54.72% between 18th June and 26th June. It was followed by a steep fall of 4011 USD or 29.03%, and it happened over the next 5 days and 11 hours. A short stint of a hike was shown over the next 1 day in which the coin gained 21.99% of the then value. Bitcoin again showed a variation in terms of a hike between 05th July and 10th July. This hike was of 20.71%. This hike was followed by a fall of 23.62% or 3084 USD over the next 4 days and 20 hours. These are the major five price swings of Bitcoin. All of these swings lie in the range of 20% and 55%.

BTC Price Prediction-

The medium-term outlook of Bitcoin is bullish, and the coin is likely to be around 15,000 USD by the end of this year. The coin may face resistances at 11059.98 USD, 11863.9 USD, and 12276.6 USD. The support levels are 9843.36 USD, 9430.66 USD, and 8626.74 USD.

Conclusion-

The coin has lost huge value in the last 24 hours, but the coin will certainly bounce back. The long-term investors need to wait until the year’s end for maximizing profits.

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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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