Price Analysis

Bitcoin’s Good Fortune Gives Six Price Shocks In Four Hours

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  • Bitcoin (BTC) shows huge price variations in the last 4 hours.
  • The closing price for the day is likely to be around 10,800 USD.

The king of all crypto coins and the oldest of them all, Bitcoin (BTC) is on fire in the recent days. The unprecedented steep hikes and fall in the price have made every trader start scrutinizing the price clearly. The price of each coin has recently surpassed 10,000 USD mark and now it is giving huge benefits to the intraday traders. Here is an analysis of the growth pattern of Bitcoin (BTC) in the last 4 hours, so that the intraday traders will have enough data to reorganize their investments. Let us analyze the current details of the coin first.

BTC Current Statistics-

Bitcoin Price Chart - 23 June
Bitcoin Price Chart
Bitcoin (BTC) 23rd June 09:16 UTC
Rank 1st
ROI (Return on Investment) 7,783.26%
Coin Circulation 17,775,100 BTC
Market Cap 190,112,933,868 USD
Value in USD 10,616.15USD
All-Time High 20,089 USD
24h Volume 25,303,552,130 USD

BTC to USD Price Comparison-

Bitcoin encountered its first huge fall at 04:51 UTC and it lasted for 27 minutes. This fall cost the coin 0.81% of its value dropping from 10755.26 USD to 10667 USD. This was followed by a short stint of rising when the coin gained 0.54% over 12 minutes trading at 10724.94 USD. There was another hike which happened between 05:43 UTC and 06:03 UTC. This hike made the coin to gain 0.98%. This was followed by three steep falls. The first fall was of 35 minutes and it cost the coin 0.81%, the second one cost 0.74% to Bitcoin and lasted for 23 minutes. The last fall was of 16 minutes and this costed the coin 0.83%.

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BTC Price Comparison-

The coin is on fire and it is likely to show many such price variations until the closing. It may find its value near 10,800 USD at the time of closing.

Conclusion-

Bitcoin (BTC) is definitely the best option for the traders looking for short or quick money. But the traders need to be cautious about the falling points as well to minimize the possibilities of loss.

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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