Bitcoin Price Analysis: BTC Hovering Around $10,400; the Next Resistance May Come at $10,600

• Bitcoin shows four major price variations in the last 30 days with a range of 12,200 USD and 9,100 USD.
• The medium-term outlook of Bitcoin is likely to be bullish.

It was a matter of a few months when Bitcoin was raging near 14,000 USD and now it struggled to enter into 10,000 USD zone. Over the last 24 hours, the coin managed to get over 10,000 USD with a 2.05% growth. Here we will analyze the price movement of Bitcoin over the last 30 days. With the help of four significant price swings, the coin has traveled 12,200 USD to 9100 USD. Let us look at the current details of Bitcoin.

Bitcoin Price Statistics-

BTC to USD Price Comparison-

Between 20^th July and 28^th July, Bitcoin fell by 16.51% and this fall pushed the coin from 11,007 USD to 9190 USD. The value of the coin against USD on 28^th July is the lowest point for the coin. However, it was followed by a hike in the value by 33.13%, which took the coin to 12,226.86 USD by 06^th August and this makes the highest point of the month. The third swing made an almost perfect pyramidal growth pattern with a cut in the value by 22% and this swing caused the coin to be at 9547.61 USD on 15^th August. Over the next 3 days from 15^th August, Bitcoin has managed to recover marginally and it has been successful in breaching 10,000 USD level. The market cap on 20^th July was 186,505,443,026 USD and the value of the coin was 11,007 USD. The current market cap and the value of the coin are respectively 0.35% and 5.5% more than the figures for the last month.

Bitcoin Price Prediction-

Though Bitcoin is now struggling near 10,500 USD, it has a huge potential to breach 12,000 USD anytime soon. According to Bitcoin future price, the coin’s next resistance is 10,600 USD and this may be achieved before the end of the current week. Over the long-term, Bitcoin is likely to become one of the most successful coins.