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Price Analysis

Bitcoin Price Analysis: Bitcoin Taking Rapid Strides Towards $13,000 and Beyond

Bitcoin is persistently trading above $12,000 since past 2 days now. Today just a few minutes back it even went beyond $13,000, to entice the investors and gain returns for the intraday traders. However, this is also an indication towards the poised feature of the coin and its staggering nature to delight the investors. The current market statistics demonstrates the same.

BTC Chart:

BTC Price Chart- July 10
BTC Price Chart by TradingView

BTC Current Market Statistics:

  • The current trading price of the coin is $13,035.00
  • The Market Cap of the coin is $230,895,569,593.
  • Holding the 24h volume as $29,610,928,278 with a circulating supply of 17,809,387 BTC.
  • BTC currently fetches >9000% Return on Investment.

BTC to USD Price Comparison:

As demonstrated from the above 24-hour chart, Bitcoin had a rapid stride trading from $12,237.09 to its current trading price, manifesting a growth of 6.5% since then. In the first block of the UTC time, the coin surged from $12,237.09 to $12,816.58 having a progression of 4.74%. From there it fell by 5.5%, trading at $12,111.25. The later climb has been quick without any major dips in between. This was when the coin rose by 8.6% from $12,111.25 to $13,154.35 and currently trading a little less from the said price mark.

Technical Indicators:

The 6-day SMA and the 20-day SMA go hand in hand, except the price fall and price rise, where the 6-day SMA crosses the 20-day SMA. The 6-day SMA is $11,618.845 and the current trading price is 12% more than that of the closing price of the previous 6 days.

The RSI is somewhat close to 50 or a little beyond that, which does not point towards any extremity of the asset being overbought or oversold.

BTC Price Prediction and Conclusion:

The current price leap is the real-time and not the speculated one that took place during the previous month and therefore, we expect the coin to slowly and steadily attain new heights. The coin may trade around $15,000 to $20,000 by the end of the 2019.

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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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