Price Analysis

Bitcoin Price Analysis: BTC Makes a 6.23% Cut and Falls Below $10,000

  • Bitcoin makes a cut of 6.23% in the last 24 hours and falls below 10,000 USD.
  • The next resistance for Bitcoin is likely to come at 10,636 USD.

Bitcoin, in the last 24 hours, has lost a whopping 6.23% and it has pushed the coin to below 10,000 USD. The current fall is a significant one, after struggling for days it had just started recovering. However, the medium-term outlook of the coin is likely to become bullish. Here we will analyze the four major price swings of the coin in the last 1 day, let us first see the current statistics of the coin.

BTC Price Statistics-

Bitcoin (BTC)22nd August 03:04 UTC
Rank1st
ROI (Return on Investment)7,240.52%
Coin Circulation17,889,700 BTC
Market Cap177,677,206,232 USD
Value in USD9,907.96 USD
All-Time High20,089 USD
All-Time Low65.53 USD

BTC to USD Price Comparison-

Bitcoin price chart August 22
BTC Chart by TradingView

At the time of opening, Bitcoin was being traded near 10,800 USD when it faced a blow of 6.58% over the next six and a half hours. This fall made the coin to be placed at 10,089 USD. The second swing was another price correction that happened between 09:36 UTC and 16:06 UTC and this correction took 349 USD away from the value of the coin. It was followed by a hike of 3.08% and by 20:33, this hike added 304 USD to Bitcoin. By the closing of yesterday, the coin was hovering around 10,150 USD, but within the next 2 hours, it made a steep dip down losing 367 USD.

Bitcoin Price Prediction-

As Bitcoin has been put under 10,000 USD, recovering from this blow would be its priority. The coin may take some more time to be able to reach 11,000 USD. The next resistance of the coin may come at 10,636 USD. All the next probable resistance and support levels are given below.

Bitcoin (BTC) 
1st Resistance10636.94667 USD
2nd Resistance11135.84333 USD
3rd Resistance11472.95667 USD
1st Support Level9800.936667 USD
2nd Support Level9463.823333 USD
3rd Support Level8964.926667 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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