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Price Analysis

Bitcoin Price Analysis: Bitcoin Loses by Small Margin; Likely to Bounce Back

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  • Bitcoin has shown four huge price swings in 24 hours in the range of 2% and 6%.
  • The next resistance is likely to be around 11,853 USD.

Bitcoin has been tracked by many investors after its short stint of huge growth in the last few months. However, with growth, the coin has also experienced steep falls in the same period. Here is an analysis of Bitcoin’s price movement in the last 24 hours, which is aimed at helping the short-term traders to re-strategize their investments. The medium-term outlook is bullish, and the coin is likely to be around 15,000 USD by the end of this year. Let us look at the current details of the coin first.

BTC Price Statistics-

Bitcoin (BTC)14th July 03:46 UTC
Rank1st
ROI (Return on Investment)8,286.45%
Coin Circulation17,816,425 BTC
Market Cap201,889,173,792 USD
Value in USD11,302.62USD
All-Time High20,089 USD
24h Volume20,637,898,641 USD

BTC to USD Price Comparison-

Bitcoin price chart - july 14
BTC chart

Bitcoin faced its first fall of the day between 00:17 UTC and 11:52 UTC. This fall was of 5.20%, and it cost the coin 615 USD in just 11 hours and 35 minutes. It was followed by a short stint of growth. Between 11:52 UTC and 16:02 UTC, the coin managed to gain 2.23% or 250 USD. However, a steep fall was noticed after that. The steep fall costing 637 USD happened between 16:02 UTC and 21:05 UTC. The loss to the coin here is of 5.56%. The latest price variation was a shift to the upper side. The coin gained 643 USD or 5.95% between 21:05 UTC and 02:12 UTC of today. These are the major four price swings that happened over the last 24 hours, and all these variations are in the range of 2% and 6%.

Bitcoin Price Prediction-

Bitcoin has a bullish medium-term outlook. As per our prediction, the coin is likely to go touch 15,000 USD by the end of 2019. The closing for today may happen near 11,700 USD. The resistance points are 11853.4 USD, 12314.42 USD, and 12786.88 USD. The support levels are 10919.92 USD, 10447.46 USD, and 9986.44 USD.

Conclusion-

Bitcoin has a short-term as well as a medium-term bullish outlook. The coin is likely to give huge returns if the holding remains until the end of this year.

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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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