Bitcoin (BTC) Reflects Support at $8,000; Expected to Rise Despite Bear Attack
Bitcoin is dealing with a moderate loss since the morning. The currency is holding itself tight around $8,000. A few days ago, the BTC price was at $10,000, but then it fell. The traders and enthusiasts are looking forward to a recovery in the coin which would lead the market towards the price rally. The intraday price movement in the chart is reflecting not much of a movement and is expected to remain boring.
Bitcoin Price Analysis
Yesterday, Bitcoin began dealing at $8244.8. The price shifted to $8157.4 within the first few hours by 1.06%. Later, there was another drop of 2.52%, which took the BTC price from $8265.3 to $8057.2 by 2.52%. Further, the coin picked up the pace and moved from $8110.5 to $8357.8 by 3.05%. The intraday progression in the price was of 0.18%. Today, Bitcoin booked a loss of 1.98%. The price shifted from $8259.5 to $8095.7.
Bitcoin is the leading coin of the cryptocurrency market. BTC had helmed the beat of the crypto market many times in the past. A small bump in the road is not a subject to worry about, and hence, we are quite positive that the situation would soon improve. As per Bitcoin future value predictions, Bitcoin holds a high possibility of an upsurge in the future. Talking about today, Bitcoin is dealing at 146,429,727,861 USD Market Cap. The 24-hour volume of BTC coin is at 13,720,313,272 USD. There are 17,963,887 BTC coins currently circulating in the market.
In the coming months, BTC would cross its 30-day high $10,898. We would recommend the long-term investors to opt for Bitcoin to book a colossal profit.
Resistance & Support Levels:
R1: $8312.55, R2: $8379.18 and R3: $8472.74
S1: $8152.36, S2: $8058.8 and S3: $7992.17