Price Analysis

Bitcoin Price Analysis: Bitcoin Slumps 5% Since Yesterday, Trades Below $11,360

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Investing in Bitcoin now for both short-term and long-term gains is beneficial now. BTC coin is trading above $10,000 since quite some time and shooting above $12,000 now and then. In the last 90 days, it has gone as high as $13,796 and may cross the $15,000 mark in the next couple of months. The current market performance of Bitcoin looks progressive and positive for upcoming exponential growth.

BTC to USD Price Comparison:

As on August 11, 2019, at 06:10:12 UTC, the price of Bitcoin is noted to be $11,355.52 and is has recorded a downtrend of over 5% since yesterday when the BTC coin was observed to be trading at $11,959.19 for some time. Bitcoin price recorded a steep fall yesterday slumping from $11,871.87 to as low as $11,232.23, and it has recovered a bit since then recording over 1% uptrend.

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Bitcoin price chart - Aug 11
BTC Chart By TradingView

Current Statistics of Bitcoin:

  • BTC price is noted to be $11,355.52
  • The Market Cap has now reached $202,909,291,992
  • 24-hour volume stands at $17,994,339,365
  • The ROI of the coin is noted to be 8,310.94%
  • The circulating supply has become 17,869,962 BTC

Bitcoin closed trading yesterday at $11,354, and it has moved very minimally since then. The coin may close today on a higher note trading above $11,400.

Bitcoin Price Prediction:

The highest recorded value in the last seven days of Bitcoin was $12,273. It has declined a lot since then but may pick up pace very soon to start trading above $12,000 again. BTC may also close this month trading at $12,500 or above. Bitcoin can be expected to cross $15,000 by the end of the year.

Conclusion:

This is the perfect time to plan long-term investments in Bitcoin as the prices are relatively low but may shoot up again any time.

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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