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Price Analysis

Bitcoin Price Analysis: Will Bitcoin (BTC) Be Able To Show A June Like Rally?

  • Bitcoin goes beyond 10,000 USD price level and may soon touch 11,000 USD.
  • The next resistance of 10,540 USD may come in the middle of the next week.

Bitcoin has been through many power shifts in this year as far as the value against USD concerned. The coin has made a journey from 4000 USD to 13,000 USD, and now it has again fallen to 10,000 USD zone. The journey of Bitcoin of 2019 can be divided into five major price variation zones. Before analyzing these changes, let us see the current data of BTC now.

BTC Price Statistics-

Bitcoin (BTC)24th August 04:53 UTC
Rank1st
ROI (Return on Investment)7,549.21%
Coin Circulation17,893,512 BTC
Market Cap186,270,548,132 USD
Value in USD10,353.27 USD
All-Time High20,089 USD
24h Volume15,350,703,744 USD

BTC to USD Price Comparison-

BTC Price Prediction
BTC Price Chart by TradingView

Bitcoin started its growth story at the onset of April this year. Between 1st April and 15th May, BTC managed to grow by 96.80%, which took the coin from 4149.96 USD to 8167.27 USD. It was followed by another steep hike in the value which pushed the coin to the highest point of the year. The second swing started on 18th May, and over the next 39 days, the coin was up by 77.50%. From 26th June, The coin started weakening, and by 16th July, it was being traded near 9483 USD. From there BTC has been showing volatility. The fourth variation happened between 27th July and 07th August, and this variation added 2476 USD to each coin. But again it was followed by a fall of 13.75% which pushed the coin to 10,366.40 USD. The market cap on 24th July was 173,379,821,201 USD, and the value of each coin was 9794.98 USD. The current market cap and the value of each coin are respectively 7.43% and 5.699% more than the figures for the last month.

BTC Price Prediction-

Bitcoin has touched 13,800 USD in June, and it has been a matter of a few days, the coin is struggling near 10,000 USD. The coin’s volatility might not be new, but it is shocking for the market. As per our prediction, the medium-term of the coin is likely to be bullish, and the coin may bring about a price rally before the New Year sets in.

Bitcoin (BTC)
1st Resistance10540.87667 USD
2nd Resistance10673.78333  USD
3rd Resistance10905.12667  USD
1st Support Level10176.62667 USD
2nd Support Level9945.283333 USD
3rd Support Level9812.376667 USD
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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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