Bitcoin Price Analysis: Bitcoin (BTC) Shows Five Price Swings in 24 Hours; Bullish Medium-term is Likely

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  • Bitcoin (BTC) shows five huge price variations in the last 24 hours.
  • The bullish medium-term outlook places the target at 15,000 USD within the next few months.

Bitcoin has seen much volatility in the past few days. It attracted huge attention in a matter of a few days; it was hiked from 8000 USD to 13,000 USD. But in the last 2 days, the coin faced few setbacks. In the last 24 hours, the coin has faced five major price variations.

The first fall was between 01:25 UTC and 05:20 UTC yesterday. This fall was accounted for 6.40%. It was followed by a hike of 12.29% over the next 6 hours 38 minutes. Between 11:58 UTC and 13:22 UTC, the coin faced a fall of 4.42%. It was again accompanied by a hike of 7.36% in the next 6 hours and 39 minutes. The latest variation was a fall of 6.69% that happened between 20:01 UTC and 02:07 UTC. The medium-term outlook is bullish for Bitcoin. By the end of this year, the coin is likely to be between 15,000 USD to 20,000 USD. Let us look at the current details now.

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BTC Price Statistics-

Bitcoin Price Chart - 29 June
Bitcoin Price Chart
Bitcoin (BTC) 29th June 02:45 UTC
Rank 1st
ROI (Return on Investment) 8,538.05%
Coin Circulation 17,786,600 BTC
Market Cap 211,152,176,361 USD
Value in USD 11,735.12 USD
All-Time High 20,089 USD
24h Volume 39,843,566,886 USD

BTC to USD Price Comparison-

Bitcoin got its first push on 1st April when the coin gained 28.46% over 9 days from 4097.11 USD to 5262.95 USD. The next hike was of 59.94% over 20 days starting from 25th April from 5068.64 USD to 8106.88 USD. Another hike between 18th May and 26th May happened, and the coin gained 20.40% in the meantime trading from a value of 7256.19 USD to 8736.73 USD. The latest growth was of 69.26%, and it happened between 09th June and 26th June from 7583.47 USD to 12835.49 USD. The market cap on 29th May was 153,684,486,843 USD, and the value of each coin was 8612.05 USD. The current market cap and the value of each coin are respectively 37.39% and 36.26% more than the values of the last month.

Bitcoin Price Prediction-

As per our prediction, the medium-term outlook of Bitcoin is bullish. By the end of 2019, the coin is likely to grow between 15,000 USD to 20,000 USD. The next resistance points are 12930.17667 USD, 13453.02333 USD, and 14460.86667 USD. The support levels are 11399.48667 USD, 10391.64333 USD, and 9868.796667 USD.

Conclusion-

Fresh coins should be bought now as the price is on the lower side. Long-term holding may give the maximum returns.

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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