Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) Manages to Cross $10,500; Total Recovery May Take Time

  • Bitcoin has shown four major price swings in the last 30 days.
  • The bullish medium-term places the target around 15,000 USD to 20,000 USD.

Bitcoin, after last few days of struggle, has managed to again go beyond 10,000 USD price level. In the last 24 hours, the BTC price has managed to hike by almost 10%. Here is an analysis of Bitcoin’s price movement in the last 1 month. The medium-term outlook of Bitcoin is bullish, and it may trade around 15,000 USD to 20,000 USD by the end of this year.

BTC Price Statistics-

Bitcoin (BTC)19th July 02:37 UTC
Rank1st
ROI (Return on Investment)7,773.77%
Coin Circulation17,825,125 BTC
Market Cap189,962,248,445 USD
Value in USD10,641.61 USD
All-Time High20,089 USD
24h Volume25,187,122,396 USD

BTC to USD Price Comparison-

Bitcoin Price Chart- July 19
BTC Price Chart by TradingView

Bitcoin faced its first hike between 19th June and 26th June, where the coin gained 50.78% trading from 9166.54 USD to 13,801.89 USD. It was followed by a steep fall of 28.91% over the next 5 days where in fell to the trading value of 9792.41 USD. The next hike of 33.36% added 3266 USD to the latter trading price. The last variation is a huge fall of 29.53% that led the Bitcoin price to fall at the price mark of 9195.87 USD. The market cap on 19th June was 161,822,603,459 USD. The value of each coin was 9166.54 USD. The current market cap and the value of each coin are respectively 17.38% and 16.09% more than the figures for the last month.

BTC Price Prediction-

Bitcoin has a bullish medium-term outlook. The BTC is likely to be around 15,000 USD to 20,000 USD by the end of this year. The next resistance points are 11143.28 USD, 11620.08 USD, and 12503.32 USD. The support levels are 9783.24 USD, 8900 USD, and 8423.2 USD.

Conclusion-

Bitcoin has started strengthening. The next few days may see a bullish run by the coin. Investors need to aim at long-term holding for maximizing returns and minimizing risks.

Tags

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.
Back to top button
Close