Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) May Be Cashing The Global Economic Crisis

  • As per experts, Bitcoin (BTC) may be taking advantage of the ongoing global financial crisis.
  • The bullish 2019 prediction target remains at $12,000.

The price range of Bitcoin (BTC) is the talk of the town. It is now hovering around 7600 USD, and before some days it went near 9000 USD. As Bitcoin (BTC) has the potential to impact the whole crypto market, the growth path is watched from proximity by the experts. As per some experts, the recent price rally of 174 days may be credited to the current financial crisis happening around the world. The moderate financial crisis has impacted many significant economies negatively. As per, Tuur Demeester, the founding partner of Adamant Capital, along with many other factors like accumulation, short squeezes, and Bitcoin withdrawals from questionable exchanges, the global financial crisis is also helping Bitcoin(BTC) to fuel its value. As per our prediction, the coin may have a moderate bullish period by the end of 2019. The 2019 prediction target should rest around 12,000 USD. Let us look at the current details of the coin.

Bitcoin Price Statistics-

Bitcoin Price Chart - 10 June

Bitcoin (BTC)10th June 01:53 UTC
Rank1st
ROI (Return On Investment)5,572.37%
Coin Circulation17,750,400 BTC
Market Cap136,033,357,836 USD
Value in USD7653.62 USD
All-time High$20,089 USD
24h Volume16,740,656,876 USD

Bitcoin Price Comparison-

After the massive setback in 2018, Bitcoin (BTC) started its journey of this year with a moderate price. The lowest point for Bitcoin (BTC) this year was on 07th February at 3366.43 USD. High growth can be noticed at the starting of March. The growth was gradual, and it was hiked by 42.03% over 37 days. Another colossal growth happened by the end of April. Bitcoin gained 36.58% over 20 days. The market cap on 10th May was 110,639,306,603 USD, and the value of each coin was 6441.34 USD. The current market cap and the value of each coin are respectively 22.95% and 18.82% more than the values for last month.

Bitcoin Price Prediction-

As mentioned earlier, the coin is likely to fall into a moderate bullish period by the end of this year. The value may get as high as 12,000 USD by the end of 2019.

Conclusion-

Bitcoin will remain an excellent investment substitute for many families. Buying a new coin with a target of long-term investment will be profitable.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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