Bitcoin Price Analysis: Bitcoin (BTC) Loses Value by 13.79% In The Last 24 Hours

Bitcoin has shocked the whole market by cutting its value by a huge margin. Contrary to many experts’ prediction, Bitcoin price has fallen by 13.79% over the last 24 hours. This volatility on the part of Bitcoin was feared of. It should be noted that before a few days, the coin gained strength to reach 13,800 USD from 8,000 USD, and now again, it fell to 9200 USD price level.

However, the medium-term outlook of Bitcoin seems bullish, According to the Bitcoin price prediction, it may reach as high as 15,000 USD by the end of 2019. Let us look at the current details of the coin now.

BTC Price Statistics-

BTC to USD Price Comparison-

Bitcoin price got its first major hike between 25^th April and 15^th May. This hike was of 58.86% and added 3023.42 USD to the price of Bitcoin. The next variation was another hike of whopping 67.53%, and it added 5205 USD between 04^th June and 26^th June. It was followed by a small stint of fall of 17.84% and lost 2306 USD over the next 5 days. Again it got another push of 17.78% and added 1885 USD between 01^st June and 09^th June. The latest variations happened in terms of a fall of 24.83%, and it made the BTC price to lose 3101 USD over 8 days from today. The Market Cap on 17^th June was 163,045,169,930 USD, and the value of each BTC was 9328.95 USD. The current Market Cap is 1.98% more, and the value of BTC price is 0.36% less than the values of last month.

Bitcoin Price Prediction-

Bitcoin has a bullish medium-term outlook. The coin is likely to be around 15,000 USD by the end of 2019. The next resistance points are 10500.14 USD, 11522.64 USD, and 12048.66 USD. The support levels are 8951.62 USD, 8425.60 USD, and 7403.10 USD.

Conclusion-

Bitcoin has lost huge in the last 24 hours, and this trend may continue for the next couple of days. It may even go below 9000 USD, but the long-term target will not make any harm to the existing holders.