Price Analysis

Bitcoin (BTC) Price Analysis: Bitcoin’s High Intra-day Fall is Nothing to Worry About

  • Bitcoin fell to $7400 in the last 24 hours, giving a shock to the investors.
  • The 2019 Prediction target rests with $55,000.

At the times of high valuation and high expectation, Bitcoin (BTC) had given a shock to many investors when it touched 7400 USD in the last 24 hours. This fall in the intraday was much to worry about. But, experts have suggested that investors need not worry about the sudden pause in the crypto rally. According to Tim Draper, a prominent venture capitalist, the low price was the perfect time for buying fresh Bitcoins. He also showed optimism and said the market for Bitcoin would revive. His words became true when Bitcoin again gained its strength around 7900 USD.

While explaining the reason behind buying Bitcoin, he said, “All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency,’ so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin.” As per our prediction, Bitcoin will reach as high as $250,000 by the end of 2022. Let’s now look at the current figures.

Current BTC Statistics-

Bitcoin Chart

  • Bitcoin (BTC) is the largest crypto coin in the market.
  • The ROI (Return on Investment) stands at 5731.21%.
  • A total of 17,718,550 BTC coins are in current circulation.
  • The current market cap as on 24th May at 01:15 UTC stands at 139,512,624,546 USD.
  • The value of each coin stands at 7927.92 USD.
  • The 24h volume at the same UTC stands at 24,318,856,734 USD.

BTC Price Comparison-

Bitcoin 1 Day

Bitcoin (BTC) has shown tremendous stability since the starting of the year. The lowest point of the coin was on 07th February at 3347.18 USD. There was massive growth at the onset of April. In just 1 day, Bitcoin gained 17.58%. The highest point of the coin was seen recently at 7984.01 USD. The market cap and the value of each Bitcoin on 24th April were respectively 99,173,879,542 USD and 5415.59 USD. The current market cap and value of each coin are respectively 40.67% and 46.39% more than the figures for last month.

BTC Prediction-

We predict the coin to reach $55,000 by the end of 2019. The 2022 outlook is bullish and places the coin at $250,000.

Conclusion-

Buying fresh Bitcoins is advised as the coin will have a definite bullish trend. The bullish path may have some steep rise and fall. But investors need to keep patience.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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