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Price Analysis

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-

Bitcoin (BTC)19th August 02:26 UTC
Rank1st
ROI (Return on Investment)7,588.14%
Coin Circulation17,884,075 BTC
Market Cap185,843,396,897 USD
Value in USD10,398.98 USD
All-Time High20,089 USD
24h Volume13,159,430,781 USD

BTC to USD Price Comparison-

Bitcoin price chart August 19
Bitcoin Price Chart by TradingView

Between 20th July and 28th 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 28th 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 06th 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 15th August. Over the next 3 days from 15th August, Bitcoin has managed to recover marginally and it has been successful in breaching 10,000 USD level. The market cap on 20th 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. 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.

Bitcoin (BTC) 
1st Resistance10515.55667 USD
2nd Resistance10685.30333 USD
3rd Resistance10883.53667 USD
1st Support Level10147.57667 USD
2nd Support Level9949.343333 USD
3rd Support Level9779.596667 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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