Price Analysis

Bitcoin’s Dismal Performance in the Last Month Worries the Market

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  • Over the past 30 days, Bitcoin has overall lost value after showing huge variations.
  • The medium-term bullish outlook places the target at 15,000 USD.

The king of all crypto coins, Bitcoin, has been facing trouble in the past few days. BTC has seen huge volatility in the price, and it has also impacted all other coins. Over the last 24 hours as well, the coin has lost almost 6%. The coin has shown four huge price swings. The medium-term outlook of Bitcoin is bullish, and by the year’s end, the coin may get to 15,000 USD. Let us look at the current details of the Bitcoin now.

Current Statistics of Bitcoin-

Bitcoin (BTC) 24th July 03:06 UTC
Rank 1st
ROI (Return on Investment) 7,080.66%
Coin Circulation 17,834,425 BTC
Market Cap 173,135,721,900 USD
Value in USD 9669.86 USD
All-Time High 20,089 USD
24h Volume 18,580,985,276 USD

BTC to USD Price Comparison-

BTC price chart - 24 July 2019
Bitcoin Pirce Chart By TradingView

Bitcoin had its first fall between 26th June and 27th June. Over these 24 hours, the coin has lost 23.83%. The next variation also came as a fall after a few days of strengthening. This fall happened between 28th June and 02nd July. This fall of almost 21% cost the coin 2580 USD. It was followed by a hike of 33.81%. This hike happened over 8 days from 2nd July and added 3300 USD to the Bitcoin price. The biggest variation was the steep fall that happened between 10th July and 17th July. This fall of 29.85% cost the coin 3899 USD. The Market Cap on 24th June was 191,704,950,863 USD, and the BTC price was 10,989.30 USD. The current market cap and the value of each coin are 9.68% and 12.00 % less than the values for the last month.

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Bitcoin Price Prediction & Conclusion-

Bitcoin has a bullish medium-term outlook. By the end of 2019, the coin may get to 15,000 USD. The next resistance points of the coin are 10203.81 USD, 10506.85 USD, and 10666.96 USD. The support levels are 9740.66 USD, 9580.55 USD, and 9277.51 USD.

Bitcoin is on a downfall now. So, investors are advised to have patience. The coin has huge potential to grow in the medium-term as well as in the long-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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