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Price Analysis

Bitcoin Price Analysis: BTC’s Price Rally is a Possibility after It Moves beyond $12,100

  • Bitcoin’s huge growth can be seen in June and it reached its zenith there at 13,000 USD.
  • The target for 2019 should be 15,000 USD as a price rally is imminent in the future.

Bitcoin (BTC), since the starting of this year, has put tremendous effort to recover from the last year’s crypto winter. In the initial days of 2019, the coin could not get a start, but from April the growth of the coin is commendable. Here is an analysis of the coin’s price movement since the 1st January. Let us first have a look at the coin’s current data.

BTC Price Statistics-

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC)9th August 01:51 UTC
Rank1st
ROI (Return on Investment)8,686.01%
Coin Circulation17,865,800 BTC
Market Cap212,574,418,347 USD
Value in USD11,882.93 USD
All-Time High20,089 USD
24h Volume19,612,242,756 USD

BTC to USD Price Comparison-

Bitcoin initiated its recover just before the onset of April. Between 25th March and 10th April, the gain percentage stands at 34.86. This growth took the coin from 3800 USD price level to 5200 USD price level. The next variation came as another hike in the value against USD. Over 38 days from 25th April, the coin got a heads up of 3597 USD. And the most important swing happened between 09th June and 26th June. There is a 69.41% inclination in the value of the coin and it took the coin all the way from 7600 USD to 13,000 USD. From there, BTC is having a huge problem in retaining the momentum. In the second week of July, the coin lost almost 3000 USD and again got back to 9500 USD price level. However, the latest phase of the coin is moderately bullish. Towards the end of July, BTC started strengthening and gained 2449 USD by 07th August.

The market cap on 09th July was 225,673,162,206 USD and the value of each coin stood at 12,489.22 USD. The current market cap and the value are respectively 5.80% and 4.85% less than the data on 09th July.

Bitcoin Price Prediction-

Bitcoin, as the top coin of the market, affects every other coin. With this huge responsibility, Bitcoin is likely to have a bullish run before this year ends and it may reach as high as 15,000 USD. So, the long-term investment would be a prudent decision.

Bitcoin (BTC)
1st Resistance12111.83 USD
2nd Resistance12257.25 USD
3rd Resistance12535.08 USD
1st Support Level11688.58 USD
2nd Support Level11410.75 USD
3rd Support Level11265.33 USD

Above are the probable resistance and support levels of Bitcoin.

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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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