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Price Analysis

Bitcoin Price Analysis: Bitcoin’s (BTC) Volatility May Stop for Some time

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  • Bitcoin shows four major price swings in the last 24 hours.
  • The target for 2019 remains at 15,000 USD.

Bitcoin has been swinging significantly in the past months, but in the last 24 hours, it showed slight stability. There were four major price variations, but all of them are in the moderate range. There was a fall of 3.49% between 01:15 UTC of yesterday and 04:03 UTC. It was followed by a hike of 5.99% over the next 6 hours, which added 665 USD to the value of the coin. From 10:09 UTC to 16:01 UTC, the coin fell by 2.67%. It was followed by a hike of 479 USD, and this hike brought the coin to 11,938 USD price level. However, the medium-term outlook of Bitcoin is bullish. It is likely to be around 15,000 USD by the end of this year. Let us look at the current details of the coin now.

Current Statistics of Bitcoin:

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC)13th July 03:25 UTC
Rank1st
ROI (Return on Investment)8,575.33%
Coin Circulation17,814,550 BTC
Market Cap208,834,359,700 USD
Value in USD11,685.21USD
All-Time High20,089 USD
24h Volume22,377,429,928 USD

BTC to USD Price Comparison-

Bitcoin has gained significantly well in the last 1 month. Between 14th June and 26th June, Bitcoin gained around 5600 USD. This hike was a whopping 69.10% growth over the then price. This hike placed the coin near 14,000 USD. However, it was soon followed by a fall of 28.90% over the next 5 days. This fall cost the coin around 4000 USD. Again, between 02nd June and 07th June, the coin gained 33.35%. It was followed by a short stint of fall. This fall cost the coin 14.12%. The market cap of BTC on 13th June was 144,713,553,565 USD, and the value of each coin was 8265.28 USD. The current market cap and the value of each coin are respectively 44.30% and 41.37% more than the figures for the last month.

Bitcoin Price Prediction-

The medium-term outlook for Bitcoin is bullish. The coin is likely to be around 15,000 USD by the end of 2019. The next resistance points are 12087.94 USD, 12359.89 USD, and 12814.29 USD. The support levels are 11361.59 USD, 10907.19 USD, and 10635.24 USD.

Conclusion-

The short-term investors need to target 12,000 USD. The long-term investors will get huge returns by 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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