Price Analysis

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.

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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.

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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