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Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) Price Bulls On The Run, Next Target $8200

Bitcoin seems to fuel the bulls as they seem to be running fast. BTC price surge can soon touch $8200. The intraday timeframe indicates that once the bulls cross $8100, it will soon create resistance at $8150. The upwards movement of Bitcoin seems a little shaky.

However, we believe Bitcoin (BTC) will soon touch $8200 in the coming days, but for the intraday traders, the movement is going to remain unstable. The stable growth may be achieved once BTC crosse $8200 and $8300 price mark without any major price drop in between.

Let’s have a look at the current statistics of Bitcoin:

  • The coin is presently dealing at $7,983.01.
  • The 24hr volume is marked around 17,917,922,116 USD.
  • The BTC market cap is noted as 141,733,491,763 USD
  • The circulating supply of BTC is 17,754,400 BTC
  • The ROI (Return on Investment) is maintained at 5,800.23%.

Bitcoin Price Chart - 12 June

The chart is taken from Trading View, on 12th June 2019, at 08:10: 36 UTC for price analysis. If we look at the YTD chart of Bitcoin, the price has hovered over the top. The major escalation in price took place in May 2019. Amidst these ups and downs, the price of Bitcoin crossed $8800. In the past week, a major price drop was experienced in the market. However, a slow and steady recovery rate could be detected in the chart.

Bitcoin Price Chart - 12 June

The above chart is reflecting price movement from yesterday. Bitcoin experienced the bearish trend on 11th June 2019. In the middle of the day, BTC created a resistance level at $7825 and support level at $7725. The price breakthrough took place at 16:47 UTC.

Today, a major price hike is registered as BTC jumped from $7866 to $8070, marking a progression of 2.59%. The price of BTC is bullish as of now, and the expectation from the coin is to move ahead with the same momentum.

Bitcoin Price Prediction and Conclusion:

Bitcoin is showing prosperous indication for the intraday chart. The investors can expect an intraday high of about $8135 to $8150. The current momentum is good for both short-term and long-term investors as the same is giving surety for huge dividends in the future.

The Bitcoin currency in the crypto market is the most result oriented and hence leading amongst a number of coins. The future of Bitcoin looks brighter.

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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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