Price Analysis

Bitcoin (BTC) Price Analysis: Bitcoin Price Volatility Leading to Significant Pump and Dump in the Market

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Bitcoin price seems to have had a colorful weekend for Bitcoin lovers and its investors. Is a 24-hour span enough to make investors gawk at the screen in a total thunderbolt?

Looking at the movements of the past month, no one would have presumed that Bitcoin value will ace the board. However, Bitcoin price past one week has been doing wonders in the cryptomarket. The Bitcoin price graph past one month has been showing sanguine movements along with the price range. The flow of Bitcoin price from $5000-$7000 has been very elementary.

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The price moment along the graph is as below:

Bitcoin Chart

Bitcoin (BTC) price at a glance:

As per the data and Bitcoin chart of Trading View on the exchange of Binance on 13th May at 5:43 UTC time, today’s statistics are as follows:

Bitcoin Chart

 
Particulars
 
Statistics
Price (USD) 7051.88
Market Capitalization 124,103,292,277 USD
Return on Investment 5090.50%
24h volume 26,540,979,761 USD
Circulating Supply 17,697,250  BTC

In 24 hours, Bitcoin price went as high as touching the price mark of $7500 with the weekend’s midday blue around the corner. The $7500 price mark that once seemed to be the greatest milestone for the year and was expected to be achieved by the end of 2019. However, it has been achieved even before half a year went by. Bitcoin price has been taking huge swings past one day. Currently, there is an onslaught of 6.35% than the highest price of the 24 hours.

The Return on Investment that was below 5000% last week, as predicted is now above the said mark making investors go gaga over their portfolio of investments.

Traders should firmly have a long position with their investments in Bitcoin, looking on the comprehensive market growth and not just transient movements.

Seems to be a large scale Bullish turn:

The above tweet appears to take into comparison the all-time highs of December 2012 with the present day boom market of Bitcoin. The trading volume now is principally six times more than the bulls then. Therefore, this time it has started having real-time investments having higher grounds.

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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