Price Analysis

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, and 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-

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC)17th July 02:41 UTC
Rank1st
ROI (Return on Investment)6,825.78%
Coin Circulation17,821,925 BTC
Market Cap166,283,353,050 USD
Value in USD9,295.15 USD
All-Time High20,089 USD
24h Volume24,698,303,617 USD

BTC to USD Price Comparison-

Bitcoin price got its first major hike between 25th April and 15th 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 04th June and 26th 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 01st June and 09th 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 17th 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.

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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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