Bitcoin’s Pendulum Swings May Hint towards Increased Volatility

• Bitcoin (BTC) faces five major price fluctuations in the last 6 hours.
• The closing price is likely to be around 11,500 USD.

Bitcoin (BTC), after getting a huge push, has now become the first choice of many investors. People are hoarding Bitcoin not only for long-term holding but also for short-term trading. The price swings in case of Bitcoin has increased by a significant degree in the last few days. Though it has given good space for intraday traders to make quick money, it is not completely free of the fear of losses. Here is an analysis of Bitcoin’s price movement in the last 6 hours. Let us first look at the current details of the coin.

BTC Current Price Statistics-

BTC to USD Price Comparison-

Bitcoin has shown five major price swings in the last 6 hours. The first hike of 1.19% it got was between 01:47 UTC and 02:45 UTC. It was followed by a dip of 1.20% over the next 51 minutes. In between 03:35 UTC and 05:23 UTC, there was another huge price hike of 2.42%. It was followed by a small dip of 0.82% that happened over the next 1 hour and 22 minutes. Finally, the coin got a push of 1.05% over 54 minutes. The final push has enabled the coin to go beyond 11,300 USD.

BTC Price Prediction-

Though the coin has experienced many price variations in the last few hours, the closing point of the coin is likely to be bullish. As per our prediction, the coin may see itself around 11,500 USD by the end of today. By clicking here you can know more about Bitcoin predictions from crypto experts. But it should be noted that the price path until that point will be full of many price variations.

Conclusion-

The price variations are unprecedented and steep, giving not much space to intraday traders for reorganizing their investment. Investors should aim for the closing value for realizing maximum profit.