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Bitcoin

Bitcoin’s Bounce Back Might be the Biggest Bull Signal Ever

Just when we thought that the price correction of Bitcoin is the result of the most influential personality, Donald Trump stating that he is not a big fan of Bitcoin and other cryptocurrencies. But taking this into consideration, it is important to note that Bitcoin and other cryptocurrencies have now become a Global Policy issue. Global acceptance of these investment avenues will soon be in the limelight to engage more potential investors.

However, this can be a signal to have an active movement towards the enormous Bull Run. Yesterday’s price correction has taken a surging pace. The current statistics are an indication of the same.

BTC Chart:

Bitcoin Price Prediction-July 13
BTC Chart by TradingView

BTC Current Market Statistics:

  • Bitcoin is currently trading at $11,649.86 at 6:10 UTC as on 13th July.
  • The Market Cap of the coin as on the date is $207,790,342,318 with the 24h volume of $21,559,117,345.
  • The current Circulating Supply of the coin is 17,814,750 BTC.
  • The current trading price of the coin fetches 8,506.82% Return on Investment (ROI) currently.

BTC to USD Price Comparison:

As per the 1-day chart of Bitcoin, the intraday movements of the coin highlight the surging strides. Yesterday, the coin started in the bearish zone below the baseline trading at $11,523.38. Around 4:00 UTC it fell by 3.5% to trade with a price mark of $11,111.06. Later, the coin took a surge and mounted as high as $11,781.74 breaking its major support level at $11,500. Around 20:00 UTC it took another major step and traded near its major level at $12,000 with a price mark of $11,951.37. Today, the coin started with a slumping trend and slipped by 3.3% from the latter price to $11,552.09. The coin is currently trading at $11,649.86, slightly above the said price.

Technical Indicators:

BTC technical Indicators

  • The MACD of the coin exhibits average volatility with MACD line crossing the Signal line and indicating towards having a bullish crossover.
  • The RSI is slightly above 40 and manifests no extremity of being overvalued or undervalued, thereby having no overbought or oversold trends with respect to the current trading price.
  • As per the Fibo retracement, the next immediate major resistance and support for the coin is at $12,000 and $11,300 respectively.

BTC Price Prediction and conclusion:

BTC has not lost its momentum and charm since its inception until now. It has rather been attracting many new people by being a strong potential investment option day by day. The time is not far when Bitcoin and other cryptocurrencies will become the go-to option for the investors. With this, the coin is expected to trade around $15,000 to $20,000 by the end of the year.

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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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