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Bitcoin

Bitcoin (BTC) Price Suffers Sudden Slump Within No Time In A Single Day

Bitcoin price on a whole is showing an ascending trend in consideration to its surge observed since past week.

Bitcoin Chart

However, the above graph only shows the surge on a totality basis, but when we look into the graph on a daily basis; it is evident that the movements are not at all straight and easy. The daily price movement is swaying attaining a different price every hour and every minute. The price is not at all fixed, rather is variable and keeps changing subject to volatility.

Bitcoin Price statistics at a glance:

As per the data and Bitcoin price chart by Trading View on the exchange of Binance as on 14th May at 10:30 UTC, the statistics of dynamism within 3 hours in the BTC price are as below:

Bitcoin Chart

BTC is currently trading at $7979.20 with a Market Capitalization of more than $140 billion. The 24 h volume is 30,726,743,253 USD with a circulating supply of 17,699,500 BTC. Currently, it is giving a Return on Investment of 5810.95% which is almost 1000 more than the past week. This surge seems to be a high time dominance just as the one that happened in December 2017.

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Taking into consideration, the power of dominance by the Bitcoin price, it is important to highlight the daily motion of the same. Bitcoin price is not at all constant for a certain period; it has multiple take-offs as per the market demand and supply.

The above chart shows the dangling of the Bitcoin graph along the axis within just 3 hours in a single day. Around high noon it was traded as high as $8346.52; with a sudden dip in the price as highlighted, it was traded at $7905.10 within an hour of the mentioned span of 3 hours. This was a 5.28% decrease in a negligible time frame.

Conclusion:

Therefore, it is important to note that Bitcoin price and its movement has no relevance to any specific variable or any other coin in the cryptomarket. It is independent of its position in the rally of the market and is likely to lead this position for a handsome amount of time.

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