Price Analysis

Bitcoin Price Analysis: Bitcoin’s Last Month Volatility Hints at Similar Phase in Future

  • Bitcoin has shown five major price variations in the last 1 month.
  • By the end of 2019, the coin may trade around 15,000 USD to 20,000 USD.

Bitcoin (BTC) could not gain momentum to start a price rally to revive completely. In the last 24 hours, the coin has shown some huge price variations and lost around 2% of its value. Here is an analysis of Bitcoin’s price movement in the last 1 month. The medium-term outlook of Bitcoin is bullish. By the end of 2019, the coin is likely to be around 15,000 USD to 20,000 USD.

Bitcoin (BTC) Current Statistics-

Bitcoin (BTC)20th July 01:38 UTC
Rank1st
ROI (Return on Investment)7,634.81%
Coin Circulation17,826,587 BTC
Market Cap186,457,095,051 USD
Value in USD10,436.39 USD
All-Time High20,089 USD
24h Volume20,572,577,329 USD

BTC to USD Price Comparison-

Bitcoin Price Chart - 20 July
BTC Chart By TradingView

Bitcoin faced its first hike by 48.83% between 20th June and 26th June where the coin jumped from the trading price of 9293.95 USD to 13,822.34 USD. It was followed by a steep fall of 23.37% over the next 1 day and the coin fell to the trading value of 10,591.83 USD. After a few days of growth, Bitcoin again faced a dip of 20.43% in the BTC price between 28th June and 02nd July. It was followed by a hike of 33.04% between 02nd June and 10th June. This hike added 3239 USD to the value of Bitcoin. The latest was a steep fall between 10th June and 17th June. This fall of 29.63% and cost the coin 3865 USD. These are the five major price swings of Bitcoin in the last 30 days.

The market cap on 20th June was 164,522,018,886 USD and the value of each coin was 9303.42 USD. The current market cap and the value of each coin are respectively 13.33% and 12.17% more than the figures for the last month.

Bitcoin Price Prediction-

The medium-term outlook of Bitcoin is bullish. The coin is likely to be around 15,000 USD to 20,000 USD by the end of this year. The next resistance points are 10755.26333 USD, 10979.79667 USD, and 11242.61333 USD. The support levels are 10267.91333 USD, 10005.09667 USD, and 9780.563333 USD.

Conclusion-

The coin is likely to experience a bullish price rally with a gap of some days. Investors should now aim at 10,700 USD. On the long-term, the coin may give huge returns.

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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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