Price Analysis

Bitcoin’s Volatility Indicates Uncertainty in Price Movements

  • Bitcoin value loses in one day and falls below $10,300.
  • The last week’s volatility pushed the coin from $10,900 to $10,300.

Bitcoin price has faced another phase of correction in the last 24 hours and this time; it has been pushed below $10,300. Over the previous seven days, BTC has been through a volatile movement having four major price shifts. It has been traded from $10,900 to $10,300. Before analyzing the price changes, let us look at the current details of the BTC.

Current Statistics of Bitcoin:

Bitcoin (BTC)September 10, 2019 02:49 UTC
ROI (Return on Investment)7,537.17%
Coin Circulation17,926,087 BTC
Market Cap$185,721,214,237
Value in USD$10,293.64
All-Time High$20,089
24h Volume$18,000,180,625

 Bitcoin Price Analysis & Predictions:

BTC Price Prediction
BTC Price Chart by TradingView

Bitcoin’s first swing of the week happened between September 03 and 04, 2019, that priced the coin $317 and placed it at $10,404.44. It was followed by a 5.05% hike over the next 2 days and this hike added $525.73 to the Bitcoin price at the highest point of the week at $10,928.52. The third swing, between September 06 and 09, 2019, had a break on September 08 at $10,590. The last swing of the week is between September 09 and 10, 2019, which managed to give the coin a semblance of recovery. This 1.90% surged in the price took the BTC to $10,302.58 by 02:45 UTC of today. And then, Bitcoin recorded price drop and reached $10293.64 as of now.

Bitcoin’s last seven days have been full of volatile fluctuations and the uncertainty prevails on the whole market as well. Check out the following resistance and support levels:

BitcoinResistance and Support Levels
1st Resistance$10475.21
2nd Resistance$10615.45
3rd Resistance$10780.59
1st Support Level$10169.83
2nd Support Level$10004.69
3rd Support Level$9864.45

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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