Price Analysis

Bitcoin Price Analysis: Super Weekend helps Bitcoin (BTC) to Dominate the Red Monday

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Bitcoin is currently riding the bulls along with its best momentum. The coin touched $9300 yesterday. The miracle took place not once but twice during the day. The coin couldn’t hold itself to the level and fell. The drop was subject to market volatility.

The marketers were happy with the growth. The crypto market also received a boost because of Bitcoin. Today, many coins in the market are bearish. The reason could be the selling pressure.

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The coin movement has given hopes to the investors that in coming months, the coin can reach $10,000. However, the prediction is too farfetched, but as long as Bitcoin maintains its momentum, the said prediction is likely to be achieved.

Statistics From Bitcoin Price Chart:

Bitcoin Price Chart - 17 June

Summary of Bitcoin Price:

  • The current trading price of Bitcoin is $9,183.4.
  • The ROI (Return on Investment) stands at 6,666.88%.
  • The circulating supply is noted around 17,763,537 BTC.
  • The 24hr volume of Bitcoin is around $21,178,866,072.
  • The market capitalization is at $162,635,709,306.

As per the 17th June 2019 chart of Bitcoin (BTC), at 08:11:30 UTC, the graph reflects a steep improvement in the price of Bitcoin from May 2019. The price of BTC exhibits an increase of 21.73% as the coin was priced $7235.9 on 18th May and rose till $8808 within the time span of 9 days.

The coin later suffered from a price drop. In the last week, the price of Bitcoin has shown tremendous improvement as the coin climbed from $7664 to $9143, reflecting a progression of 19.30%.

However, the beginning of the year started at a steady pace. From January till April first week, the price of Bitcoin remained between a resistance level of $4347 and support level $3363.

BTC to USD Price Comparison:

If we compare the price of BTC from the starting of the year 2019, which was at $3978 with that of the current price, which is $9183, the price has risen by 130%. Thus, the expectation of Bitcoin is higher than ever.

Bitcoin Price Prediction and Conclusion:

After touching $9300, the coin is targeting towards $10,000. The future of the coin seems nice and steady. The long-term and short-term investors can dig in Bitcoin for drawing huge dividends.

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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