Price Analysis

Bitcoin Price Analysis: BTC Price Surge To Lead The Coin Above $8500

Bitcoin (BTC) price almost crossed $8200 yesterday. The price upsurge was shaky because the US stock market experienced regression. However, the currency has shown the potential recovery and now trading at $8142.8.

As per the latest news, Kookmin Bank (KB), a major South Korean bank has ventured with Atomrigs labs (blockchain technology firm) to try their luck with digital assets and protection solution. This is a great news for the crypto market as Kookmin Bank (KB) will bring more steadinesses in the cryptocurrencies.

Let’s have a look at the current statistics:

  • The price of Bitcoin is 8,142.8 USD
  • The Return on Investment is marked around 5,906.93%
  • The market capitalization is 144,309,308,907 USD
  • The 24hr volume of BTC coin is 18,333,370,697 USD
  • The circulation supply is marked around 17,755,962 BTC.

Bitcoin Price Chart - 13 June

As per the Trading View chart of 13th June 2019, at 04:53:27 UTC, the current trading price of BTC is $8142.8. If we have a closer look at the chart, then the price graph will give an exact prediction for today’s market. Yesterday, the coin started at around $7900. At 3:00 UTC the price jumped from $7863.8 to $8075.0 and registering a hike 07 2.61%. Around 15:00 UTC, another surge was observed in Bitcoin price, which was of 2.80% as prices escalated from $8013.8 to $8238.5. The entire day booked a progression of 3.45% as the opening price was $7900 and the closing was $8173.

Today, the price has opened around $8173. BTC as per the current price has locked a resistance level at $8200 and a support level at $8072. The price is moving at a steady pace and is likely to remain the same. The intraday traders will have several gaining opportunities today.

Bitcoin Price Prediction and Conclusion:

The price of Bitcoin will move ahead and may touch a high at $8250 during the day. By the end of the year, it is expected that BTC may go as high as $12,000, if the same momentum continues. The short term investors can dig into the market as it would be the perfect time for them. The long term traders will surely get high dividends on their investments.

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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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