Price Analysis

Bitcoin Price Analysis: Investors are Worried about Bitcoin’s Fake Price Rally

eToro
  • Crypto-experts are worried about Bitcoin’s fake Price rally.
  • Bitcoin is likely to reach 15,000 USD by the end of 2019.

Bitcoin is having a gala time in the market now. It is getting so close to 9000 USD price level that many new investors have been starting trading on Bitcoin (BTC). But in the world of cryptocurrency with great performance comes great risk and uncertainty. As per Peter Schiff of Euro Pacific Asset management, BTC has not been able to recover completely from the crypto winter of 2018 when the coin dropped from 20,000 USD to 3200 USD over just 11 months. He also said that the current growth would not be a sustainable one. This growth is only bringing many amateurs to the market, and this explains the sudden rise in the price. He also added that the fake buying sentiment of Bitcoin (BTC) would be responsible for the loss of people’s hard-earned money. We predict that Bitcoin value likely to reach 12,000 USD by the end of 2019. Let us look at the current figures for Bitcoin.

Bitcoin Price Current Statistics-

Bitcoin-Price-Chart

eToro Crypto
  • Bitcoin (BTC) is the largest crypto coin in the market now.
  • The ROI (Return on Investment) stands at 6301.93%.
  • A total of 17,737,612 BTC coins are in current circulation.
  • The market cap as on 3rd June at 01:45 USD stands at 153,594,876,458 USD.
  • The bitcoin value stands at 8701.97 USD.
  • The 24h volume at the same UTC stands at 20,109,053,083 USD.

BTC Price Comparison-

Bitcoin (BTC) is watched for its performance because of the loss it made during the crypto winter. However, the year started with a low figure for Bitcoin, and it maintained that figure for some time. The lowest point of the coin was on 07th February at 3353.33 USD. The April boom brought life to the growth cycle. Over 22 days, Bitcoin (BTC) gained 33.12%, and this growth was a hint of the current growth. The market cap on 3rd May was 101,862,925,684 USD, and the value of each coin was 5696.36 USD. The current market cap and the value of each BTC are respectively 50.78% and 52.76% more than the figures for last month.

Bitcoin Price Prediction-

The value of Bitcoin (BTC) is likely to rise in the long term. As per our prediction, the value of each coin may reach 12,000 USD by the end of 2019. The journey to this figure will have huge price variations as well.

Conclusion-

New entrants shouldn’t come attracted only to the huge gain Bitcoin made recently. This rise may not last forever. Long-term holding will be profitable.

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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