fbpx
Price Analysis

Bitcoin Price Analysis: BTC is On Price Recovery Mode; Gains 4.55% Overnight

  • Bitcoin gained 4.55% in the last 24 hours and breached the resistance at 10,800 USD.
  • It may soon touch 12,000 USD and further, it is likely to get a price rally before the year ends.

Bitcoin has managed to reach its first resistance point at 10,800 USD with the help of a 4.55% hike. It is likely to rise more in the coming days and by the end of this year, the coin is likely to be near 15,000 USD. In the last three months, the journey of Bitcoin was full of shocks and volatility. The coin reached its peak towards the end of June and it has been trying to reach there since then. We will now analyze the current statistics of the coin before going into details of the price movement pattern.

Bitcoin Price Statistics-

Bitcoin (BTC)20th August 02:35 UTC
Rank1st
ROI (Return on Investment)7,927.83%
Coin Circulation17,886,100 BTC
Market Cap194,532,775,884 USD
Value in USD10,869.71 USD
All-Time High20,089 USD
24h Volume16,101,654,663 USD

BTC to USD Price Comparison-

Bitcoin price chart August 20
Bitcoin Price Chart by TradingView

Bitcoin’s highest hike of this year has been the 85.70% hike between 04th June and 26th June. This hike pushed the coin near 14,000 USD. From there, Bitcoin has been showing huge volatility. It was followed by a fall of almost 30% in the value against USD which deducted 4039 USD from the coin over just 5 days. After a week of growth, Bitcoin again took a dip to 9208.95 USD by 17th July. From there it has been a satisfying journey for the coin and it has risen to 12,196 USD by 06th August with the help of a 32% increase in the value. The market cap on 20th July was 186,505,443,026 USD and the value of the coin was 10,991.43 USD. The current market cap and the value of each coin are respectively 4.30 % more and 1.10 % less than the figures for the last month.

Bitcoin Price Prediction-

Bitcoin is consistently raging against 11,000 USD and the next big target should be 12,000 USD with so many little halts. But the coin is likely to get a good growth by the mid of next month. With the help of a price rally, the target of 15,000 USD by 2019 seems reasonable. The details of the resistance and support levels are given below.

Bitcoin (BTC)
1st Resistance11117 USD
2nd Resistance11317.95 USD
3rd Resistance11719.85 USD
1st Support Level10514.15 USD
2nd Support Level10112.25 USD
3rd Support Level9911.3 USD
Tags
Show More

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.

Related Articles

Back to top button