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Bitcoin

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

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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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