Price Analysis

Bitcoin’s (BTC) Market Cap Shows a Loss of 21% Over the Last Month

Finmax
  • Bitcoin lost about 20% over the last one month.
  • It is likely to reach 15,000 USD by the end of 2019.

Bitcoin seems to have lost the track. After days of anticipation of growth, the coin is now probably heading towards its support zone. Here we will analyze Bitcoin’s price movement against USD for the last 1 month. Over this period, the coin has lost huge value, and with five significant price swings, the coin has come from 11,000 USD to 9500 USD price level. Here are the current statistics of the coin.

Current Statistics of Bitcoin-

Bitcoin Price Prediction
Bitcoin Price Chart by TradingView
Bitcoin (BTC) 30th July 03:31 UTC
Rank 1st
ROI (Return on Investment) 6,891.56%
Coin Circulation 17,846,387 BTC
Market Cap 168,627,780,317 USD
Value in USD 9449.71 USD
All-Time High 20,089 USD
24h Volume 13,423,467,901 USD

BTC to USD Price Comparison-

On 2nd July, Bitcoin was being traded around 9700 USD after a fall of consecutive 3 days. However, from 2nd July to 3rd July, Bitcoin got a push of 22.24% and jumped to 11,959 USD. After a few days of price correction, the coin again faced a hike of 20.60%. This hike was extended over 5 days and revalued the coin by 2230 USD. But these hikes were not enough to make the coin’s growth sustainable. Right after the hike, the coin went to 9181.59 USD in just 6 days, and this is the most important price swing of Bitcoin in this period as it traded the coin from the highest of the month to the lowest of the month. After 17th July, Bitcoin managed to create some space to breathe, and the latest swing started on 20th July, and by 28th, it has already given a blow of 1807 USD to Bitcoin price. The Market Cap of the BTC coin on 30th June stood at 213,885,261,673 USD, and the value of each coin against USD was 11,529.28 USD. The current market cap and the value of each coin are respectively lost 21.15% and 18.03%.

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Bitcoin Price Prediction & Conclusion-

Bitcoin is now on a downfall, and it may be eyeing somewhere below 9000 USD. But, it doesn’t change the fact that it is still the coin with the highest potential. The year’s end may see the BTC price near 15,000 USD. Here are the details of resistance and support levels of the Bitcoin.

Bitcoin (BTC)
1st Resistance 9642.883333 USD
2nd Resistance 9766.616667 USD
3rd Resistance 9851.583333 USD
1st Support Level 9434.183333 USD
2nd Support Level 9349.216667 USD
3rd Support Level 9225.483333 USD

Investors should aim for a BTC price around 9400 USD now. Accepting the truth that Bitcoin is currently not in its best shape, we should not forget that the coin has a bright near term.

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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