BTC is the dominant cryptocurrency with its blockchain technology. Its availability is much less, but it has huge and increasing demand from investors worldwide. It is still the most powerful cryptocurrency to impact several other digital currencies in the crypto space. It relies on a peer to peer network with no intermediaries in between. It is aimed to exclude the involvement of any third parties while users are transacting on its platform. With its increasing adoption, some people have also started using BTC in real time.
Current status of BTC
BTC is currently getting traded at USD 5,451.00 (UTC time 04:00). With a market cap of USD 96,267,520,686 and a circulating supply of 17,660,525 BTC, it is the most leading cryptocurrency in the crypto sphere.
Price analysis of BTC
The above chart shows that BTC is currently getting traded at 5,450.86 USD (UTC time 04:05). Its current market cap is worth of 96,264,834,561 USD with a 24h volume of 14,732,626,397 USD. The same chart shows that approx. One month earlier, BTC had a trading value of 4089.18 USD. So, within this period, the value of BTC has been spiked up by 33.29% with 5037.51 USD as a good support resistance.
Future price prediction of BTC
The crypto sphere was recently overwhelmed to see the bullish action of bitcoin for the past several weeks. Some analysts after seeing this had even told earlier that BTC is surely going to be profitable for long term basis. The recent price lines have drastically shifted the market sentiment, and many investors are hoping for the bullish range every single day. At this point, one of the most renowned crypto enthusiasts told that BTC could surge even up to $6000 before it gets significant selling pressure that will automatically push its price much lower than it is today. BTC is expected to deter as low as $3000 in this year only before it surges up. As people are investing more on BTC and as it has good prospects in the upcoming days, we believed that it could trade around $20,000 by the end of this year. The market condition will also improve by the end of 2019, so, that can be an added advantage to its price hike.
BTC is an unputdownable cryptocurrency but, as the market is highly unstable and unpredictable, it is very much uncertain about guessing anything perfect for BTC, therefore, definitely, it’s not worth investing on BTC in the long term basis as it can incur significant losses to the hopeful investors according to Bitcoin forecast.