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-

BTC to USD Price Comparison-

Bitcoin’s highest hike of this year has been the 85.70% hike between 04^th June and 26^th 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 17^th July. From there it has been a satisfying journey for the coin and it has risen to 12,196 USD by 06^th August with the help of a 32% increase in the value. The market cap on 20^th 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. As per Bitcoin price prediction, the coin is likely to get good growth by the mid of next 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. 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.