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Price Analysis

Bitcoin Price Analysis: Bitcoin Records 3% Downtrend Since Yesterday with Lowest at $9,982

  • Bitcoin continues to battle concerns around its existence and reliability
  • BTC should have a persistent trade above $11,000 to close the year on a good note

It has been a good year for Bitcoin token holders as the coin has recorded over 3X growth from its initial value at $3,379 at the beginning of the year. It may rise to newer price marks by the end of the year if it instigates a persistent trade above $11,000. However, one thing that keeps haunting this coin is its reliability in the future and how effective it can be without any government control. But the market has full faith in the coin’s success.

BTC Price Statistics:

Bitcoin has recorded a downtrend of over 3% in the last one day dipping from $10,426.18 to its current value at $10,084.58 as on August 25, 2019, at 04:48:51 UTC. The coin was noticed to be performing well in the initial hours yesterday till it had a steep fall slumping from $10,318.89 to as low as $9923.53. BTC has recovered from that value but may take a while to rise above $11,000 again.

Bitcoin price chart - Aug 25
BTC Chart By TradingView
  • The BTC price token is noted to be $10,084.58
  • The market cap of the coin is now $180,635,451,274
  • The 24 h volume of the coin has been $15,139,491,636
  • The ROI of the coin stands at 7,383.41%
  • The circulating supply has been 17,895,487 BTC

The highest recorded value of BTC in the last 7 days was $10,947, and it may take some more weeks to cross $11,000 mark again. The coin may, however, close the day on a better note today trading around $10,200 or above.

Bitcoin Price Prediction:

BTC may rise to $11,000 in the early weeks of the next month and may also cross $12,000 by the end of the month. The coin can be expected to trade between $15,000 and $20,000 by the end of this year if it maintains persistent trade in the bullish zone. The coin is gaining attention from global players better than ever, and this may lead to an upward trajectory very soon.

Conclusion:

This is a good time for those who would like to have long-term benefits from Bitcoin token. Invest and forget is the key.

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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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