Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) Swings Four Times in Last 24 Hours; Next Target $10,830

  • Bitcoin shows four major price swings in the last 24 hours.
  • The next resistance point target should be 10,830 USD.

Bitcoin has been pushing slowly yet steadily to recover from the downfall in the market that happened over the past few days. Overall growth in the last 24 hours has been in negative, but it has been able to show four major price variations in these 24 hours. Let us look at the current details of the coin now.

Current Statistics of Bitcoin-

Bitcoin (BTC)22nd July 02:52 UTC
Rank1st
ROI (Return on Investment)7,746.70%
Coin Circulation17,830,775 BTC
Market Cap189,269,942,657 USD
Value in USD10,612.98 USD
All-Time High20,089 USD
24h Volume16,556,877,922 USD

BTC to USD Price Comparison-

bitcoin price chart - 22 July 2019
Bitcoin Price Chart by TradingView

In the last 24 hours, Bitcoin has faced four price swings. The first swing was faced between 00:37 UTC and 04:00 UTC. Over these 3 hours and 23 minutes, the coin gained 2.48%. It was followed by a hike of 1.76% over the next 5 hours and 25 minutes. This hike added 185 USD to the value of each coin. The next variation was a steep fall that happened between 09:24 UTC and 17:02 UTC. This fall of 3.66% cost the coin 392 USD. The latest variation was a hike of 3.13% that happened between 17:02 UTC and 00:15 UTC. This hike added 323 USD. All of the four variations lie in the range of 1% and 3%.

Bitcoin Price Prediction-

BTC price has a bullish medium-term outlook. By the end of this year, the Bitcoin price may get to as high as 15,000 USD. The next resistance points are 10830.8 USD, 11062.49 USD, and 11283.09 USD. The support levels are 10378.51 USD, 10157.91 USD, and 9926.22 USD.

Conclusion-

Bitcoin may take more than expected time to bounce back. All we should expect from the coin now is stability. On the long-term, the coin is going to give good returns.

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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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