Price Analysis

Bitcoin Price Analysis: Bitcoin (BTC) Price Spills Leaving Behind all the Presuppositions for its Colossal Investors

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Bitcoin is on the move since last week achieving new landmarks on a day-to-day basis. Bitcoin did not take enough time to rush from $6000-$8000. It just got its prices moving that featured the qualities of Bitcoin being a market leader and a forerunner. Currently, it is doing total justice with its position in the cryptomarket.

Bitcoin investors are going big on their investments, as BTC price is doubling at an increasing rate since the start of this year. It is now after the surge of 2017 that such metallic movements are observed.

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Bitcoin’s Bulls Hit Hard:

Bitcoin bulls seem to have taken the right ground to subdue the market space. Statistics according to Bitcoin price Chart from Trading View on the exchange of Binance as on 14th May at 3:55 UTC are as below:

Bitcoin Chart

Particulars Statistics
Price (USD) 7954.40
Market Capitalization 140,288,758,875 USD
24h volume 29,563,877,795 USD
Circulating Supply 17,699,275 BTC
Return on Investment 5754.23%

As per the above data and chart, we see five highlighted price marks.

  • The first one is at $7894.00 from where stable movements in the price are observed with trivial stride alongside.
  • The 2nd price mark is when Bitcoin price crossed the $8000 landmark real quick and trading at $8155.70; it was 3.31% more than the previous price mark ($7894.00) in almost no time.
  • Considering the other point with $7581.98 it plunged back to its periphery of being within the range of $7500 – $8000, there it was 7.03% from the previous price mark ($8155.70) of the run.
  • While for the next price mark it was observed around $8048.34, trading a little above the $8000 price mark where it was 6.15% more than the trading price marked below around $7500.
  • The last point is currently maintaining a balance between all the other price marks observed previously.

However, it is essential to note that all the above surge and plunge took place in almost a negligible time frame giving immense importance to its feature of being volatile in the market space.

Also, concerning the above tweet we see that Bitcoin price has outpoured the graph in comparison to that of the S&P 500. Bitcoin price has grown by 107.34% while S&P has grown only 12.06%. This hike is almost nine times more than the one S&P 500 has had which shows that BTC is making it be a massive surge for days to come.

Investors to hold on the security and take a long position as the predictions for BTC are blossomed to shed away trifling remains of crypto winter.

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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