Bitcoin Price Analysis: Bitcoin (BTC) records 4% downtrend within a day by trading below $11,500

  • Bitcoin slumps by 4% within a day; trades below $11,500
  • Bitcoin’s increasing acceptance in local stores may pump the performance

With the increasing adoption of BTC coin in mainstream markets, it is only a matter of time that it will start replacing traditional currency globally and become a preferred choice of payment. The merchants are also inclining towards making their stores BTC-compatible, and this will result in the mass adoption of the token. The current market statistics may be slow, but it will soon transition into growth.

Current Statistics of Bitcoin:

In the last one day, Bitcoin has shown a downtrend of over 4% dropping from $11,710.98 to its current value at 11,215.96 as observed on July 7, 2019, at 06:22:56 UTC. The coin, first, surged from $11,332.70 to cross $11,500 mark and reaches $11,710 but then started dropping steeply later around the midnight and reached $11,054. It has slightly come up but still trading below $11,500.

Bitcoin price chart - 7 July 2019
1-Day BTC Chart
  • BTC to USD is currently trading at $11,215.96
  • The market cap of BTC is noted at $199,651,945,543
  • The 24-hour volume has reached $19,967,299,517
  • The ROI of the BTC stands at 8,202.66%
  • The circulating supply of Bitcoin is noted at 17,803,500 BTC

Bitcoin Price Prediction & Conclusion:

BTC price may be expected to pick up pace towards the midweek and may reach up to $11,900 by coming Wednesday. By the end of the week, it may cross the $12,000 mark and start trading above it for longer duration. BTC may also be able to cross $15,000 by the end of the year. BTC is a good option for investment currently and will pay huge returns in the next few years. Also check out Bitcoin forecast so that you will get to know about the further changes that happen in the future price of the coin before it actually occurs.

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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