Price Analysis

Bitcoin Price Analysis: Increased Interest on Bitcoin from Silicon Valley May Push the Price to Previous High

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  • The market leader of the cryptocurrency- Bitcoin; may attract investors by the news of Apple iOS 13 Cryptokit.
  • The medium-term bullish outlook places the coin at $12,000.

There is nothing bigger for any crypto coin than getting recognized by huge MNCs. Recently, Apple has released its flagship iOS 13 software, and in that release, it gave a hint of stepping into the world of Bitcoin and cryptocurrency. Apple has added a “cryptographic” developer tool in its new OS. Big MNCs refrain from using direct references so that the crypto market is not impacted unnecessarily. Previously Facebook and Samsung also have started showing interest in cryptocurrencies. As Bitcoin (BTC) now swings between 7800 USD and 8000 USD, experts believe that increased attention from Silicon Valley towards Bitcoin (BTC) will be a good sign and it may push the value to a previous all-time high. However, it is too early to predict that. Bitcoin’s medium-term is likely to remain bullish, and the price may go as high as 12,000 USD by the end of this year. Let us look at the current figures of the coin.

Bitcoin Price Statistics-

Bitcoin-Price-Chart

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Bitcoin (BTC) 07th June 02:16 UTC
Rank 1st
ROI (Return On Investment) 5,676.51%
Coin Circulation 17,745,000 BTC
Market Cap 138,711,991,580 USD
Value in USD 7793.82 USD
All-time High USD 20,089.00
24h Volume 19,672,273,988 USD

Bitcoin Price Comparison-

Right after the so-called Crypto winter, Bitcoin (BTC) started the year 2019 with a very minimal price. After a short stint of growth in the first week itself, it fell by almost 17% over 49 days. The April boom worked for Bitcoin, but that was again a short-lived one. Another major hike can be noticed on 29th April when the coin gained 57.80% over 16 days. The highest point of the coin at 8791 USD also lies in the last 30 days period. The Market Cap on 07th May was 102,367,981,935 USD, and the value of each BTC stood at 5743.45 USD. The current Market Cap and the value of each coin are respectively 35.50% and 35.69% more than the prices for last month.

Bitcoin Price Prediction-

Looking at the growth pattern of Bitcoin (BTC), it is easy to say that the medium-term for Bitcoin is likely to become bullish. By the end of 2019, the value may get to 12,000 USD price level.

Conclusion-

As Bitcoin (BTC) is currently traded around its one of the lowest prices, it is a good time to buy fresh coins. Long-term holding is the key to yielding maximum profits over the current investment.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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