Price Analysis

Bitcoin’s (BTC) Marginal Growth Gives a Good Sign to the Market

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Bitcoin, the king of all cryptocurrencies, seems to have been struggling and putting huge efforts to avert the bearish market run. After days of ups and downs, the Bitcoin price could go up only by 1.8% over the last 24 hours. However, in the last 1 month, the coin has seen both the extreme points. With five significant price variations, Bitcoin’s price movement in the last month is nowhere near stability. However, by the end of this year, the coin is expected to pluck speed. It is likely to touch as high as 15,000 USD in this short span. Let us find out the current details of the coin now.

Current Statistics of Bitcoin-

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC) 29th July 02:19 UTC
Rank 1st
ROI (Return on Investment) 7,036.74%
Coin Circulation 17,844,200 BTC
Market Cap 172,519,062,759 USD
Value in USD 9635.74 USD
All-Time High 20,089 USD
24-Hour Volume 14,407,088,412 USD

BTC to USD Price Comparison-

The top-ranked coin was dragged from 12,014 USD to 9784 USD by a huge downside movement between 29th June and 02nd July. This 18.56% decline is the first huge variation of Bitcoin in a month. However, Bitcoin later got a mild push and gained 3286 USD over the next one week’s time. But this push was not a long-standing one. It was followed by a decline of 3873 USD in another week’s time starting from 10th July. However, between 17th July and 20th July, Bitcoin could uplift itself by 1807 USD. The final call of Bitcoin was a downfall of 1799 USD till the 28th of July.

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Bitcoin Price Prediction-

Bitcoin is going through a tough phase now. But it will soon see some good growth. It is expected to touch 15,000 USD by the end of 2019. The next resistance points are likely to be 9668.17 USD, 9783.48 USD, and 9991.42 USD. The support levels are 9344.92 USD, 9136.98 USD, and 9021.67 USD.

Conclusion-

Bitcoin is still one of the best performing coins if we consider its high ROI. This bear phase is temporary; it will certainly favor its long-term investors.

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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