Bitcoin Weekly Analysis: Bitcoin (BTC) Price Making it Big from $5900 to $8000 Effortlessly

Bitcoin prices in the past week are no less than the most exceptional survival for the whale investors. The blaze has been radiant enough for investors to keep gawking at the screen since BTC price prediction says that Bitcoin will leap to $20,000 in just three winks.

Bitcoin justifying its rank and position in the cryptomarket leads the rally of cryptocurrencies. After July 2018, it is now that Bitcoin has crossed the $8000 price mark which is almost after ten months. Bitcoin seems to make the market and its institutional investors to notice that “Bitcoin is on a roll with the bang.” Looking at trends, it can be said that Bitcoin has been readily pleasing its investors at least once in the whole year; we think it’s that time of the year when investors should make hay while the sun is still shining. There is no specific reason for Bitcoin to hit this 10-month high subject to market volatility.

BTC Weekly take-off:

Bitcoin chart

At the time of penning down this article around midday on 14th May, Bitcoin was traded at a value $7906.16 in the cryptomarket. Bitcoin has been already traded around $8100 in the last 24 hours.

As evident from the above Bitcoin price chart by Trading View on the exchange of Binance, we see the weekly BTC price movements and its momentum. With the onset of these atypical seven days, we know that market started with the BTC price as low as $5736.22 in comparison to the price it is traded at present. But it was since then that Bitcoin was gaining stupefying momentum to reach new heights.

It was until the day before yesterday, i.e. 12th May when Bitcoin hops through the prices in the market. Resultant was the price mark of $7500 that was achieved which once seemed to be a goal for the year 2019. Within two days Bitcoin price went through a countless number of oscillations since then and currently is traded near to $8000 after having traded above $8000. The trend today is almost 37.82% more than the initial price mark of the spot seven days till now.

Bitcoin price seems to be running a race without halts.

Never too late for investment in Bitcoin, potential investors are advised to buck up their finances and get a long position for timeless returns to go big and the existing investors to opt for call options because Bitcoin legit is a deity among all the avenues.

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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