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
Rank 1st
ROI (Return on Investment) 7,537.17%
Coin Circulation 17,926,087 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. According to our BTC forecast and current price formation, the coin might continue to trade downwards. Check out the following resistance and support levels:

Bitcoin Resistance 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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