Bitcoin Price Analysis: Can We Still Expect another June Like Bitcoin Rally before this Year Ends?
- Bitcoin shows significant volatility in the market since April.
- The coin is likely to trade around 15,000 USD to 20,000 USD by the end of 2019.
Bitcoin, the father of all crypt coins, have been through a roller-coaster ride in this year. In the initial few months of 2019, the coin maintained a stable outlook, but after April Bitcoin took its original form and reached way beyond 13,800 USD. However, the month of July has been little volatile for Bitcoin. Here is an analysis of Bitcoin’s price movement year to date. Let us first review the current statistics of the coin.
BTC to USD Price Statistics-
| Bitcoin (BTC) | 1st August 02:52 UTC |
| Rank | 1st |
| ROI (Return on Investment) | 7,319.82% |
| Coin Circulation | 17,850,275 BTC |
| Market Cap | 179,102,207,188 USD |
| Value in USD | 10020.78 USD |
| All-Time High | 20,089 USD |
| 24h Volume | 16,518,332,231 USD |
BTC to USD Price Comparison-
As mentioned earlier, the notable phase of the coin started after April only. Between 25th April and 15th May, Bitcoin got a push of 58% and this push helped the coin to gain 2982 USD. This is the first push which brought the coin from 5000 USD price range to 8000 USD price range. The next variation was another increment of 68.83% over 22 days from 04th June and this hike took the coin to its peak of 13,000 USD. However, the coin could not maintain its value there against USD. Between 09th July and 16th July, the coin lost 3049 USD and another fall of 5.92% over 11 days from 20th July cost the coin 636 USD. The market cap of Bitcoin on 1st July was 183,045,837,460 USD, and the value of each coin stood at 10,556.54 USD. The current market cap and the value against USD are respectively 2.15% and 5.07% less than the figures for the last month.
BTC Price Prediction-
The way Bitcoin managed to growth after April was commendable and it is likely to catch another rally of that degree before the end of 2019. According to Bitcoin price prediction, by that time, it may be hovering around 15,000 USD.
| Bitcoin (BTC) | |
| 1st Resistance | 10248.14 USD |
| 2nd Resistance | 10410.65USD |
| 3rd Resistance | 10735.67USD |
| 1st Support Level | 9760.61USD |
| 2nd Support Level | 9435.59USD |
| 3rd Support Level | 9273.08USD |
Conclusion-
Bitcoin, with no doubt, is the market pioneer. It affects the whole market in ways can’t be imagined. However, Bitcoin has always favored the long-term traders and it is unlikely to deviate this time as well.
