Price Analysis

Bitcoin Price Analysis: BTC Falls Way Below $11,000; No Signs of Recovery for Now

  • Bitcoin falls below 11,000 USD with no signs of recovery for now.
  • Bitcoin has shown six major price swings in the last 30 days and the price range lies between 9100 USD and 12,200 USD.

Bitcoin has made its investors mourn over the last 24 hours as the coin has gone below 11,000 USD. It has been through many volatile phases in the past, but this fall is crucial as it has been only a month when the coin was being traded beyond 13,500 USD. Here is an analysis of the coin’s this month’s price movement. Let us first discuss the current details of the coin.

BTC Price Statistics-

Bitcoin (BTC)14th August 01:18 UTC
Rank1st
ROI (Return on Investment)7,881.76%
Coin Circulation17,875,000 BTC
Market Cap193,115,716,878 USD
Value in USD10,720.04 USD
All-Time High20,089 USD
All-Time Low65.53 USD

BTC to USD Price Comparison-

Bitcoin price chart August 14
Bitcoin Price Chart by TradingView

On 16th July, Bitcoin was hovering near 10,900 USD when the coin started weakening. It reached 9208 USD by 17th July. This was followed by a hike of 19.56% in 3 days and this hike pushed the coin to 10,995 USD. But this hike was not sustained for long. In the next 8 days, Bitcoin again got back to 9178 USD after getting a deduction of 16.37%. The fourth swing of the month came as the highest swing. The 33.22% hike made the coin to reach 12,226 USD by 06th August and this makes the highest point of the last 30 days. Over the next 7 days from there, the coin has been down by 11.09%. Currently, the coin is way below 11,000 USD. The market cap on 14th July was 191,864,266,761 USD and the value of the coin was 10,372.94 USD. The current market cap and the value of the coin are respectively 0.65% and 3.34% more than the data form last month.

Bitcoin Price Prediction-

Bitcoin is on a slope now and it is easier for the coin to lose value than gain even marginally. However, experts have predicted a bullish medium-term outlook for the coin and it may go near 15,000 USD before 2019. Here are the resistance and support levels of Bitcoin.

Bitcoin (BTC) 
1st Resistance11267.14333 USD
2nd Resistance11638.45667 USD
3rd Resistance11856.86333 USD
1st Support Level10677.42333 USD
2nd Support Level10459.01667 USD
3rd Support Level10087.70333 USD
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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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