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Bitcoin

Is Bitcoin (BTC) Always Going to Give Shocking Surprises?

“A one-day adventurous tale in the life of Bitcoin.”

Can a span of 24 hours do wonders? Not necessarily always. But certainly investors of Bitcoin can gawk at the wonders it creates in a span of 24 hours; anytime and every time.

Bitcoin that started its day with crossing a 5600 dollar mark is now swinging around $5500. The oscillations faced in one day are noteworthy which in a way give the investors an intimation that “Invest when you feel is the best” rather than waiting for hikes until forever; where it is the default that the market volatility is such that “the best” may simply diminish.

BitcoinThe above chart by the Coinmarketcap as on 24th April at 10:18 UTC time is evidence of what all can happen in 24 hours. The current price (USD) at which BTC is currently trading in the market is 5504.50 with a Market Cap of 97,223,095,014 USD, and the 24h volume is 15,950,481,296 USD.  Currently, it is 2.40% less than the peak price (USD) 5641.36 in just the previous 4 hours of the 24 hours. Since we are considering the dynamics of a day, it is inevitable to know yesterday’s high/low which was USD 5,642.04 and USD 5,483.76 respectively. Another crucial point is to know yesterday’s open and close price since yesterday’s close price is supposed to be today’s opening which is very much important to gauge the further movements. Therefore, yesterday’s open/close was 5399.37 USD and 5572.36 USD respectively.

This solid rise observed yesterday could not really be a backlink for the current spin-off taking place in the price of Bitcoin.

The theory of Market Volatility is true with respect to how Bitcoin is performing presently. Though, we are likely to analyze that it will not slip to a support level lower than $5300 in the nearest time.

But again if it runs down too soon, will totally it nullify the hype of the hike it created making investors shut down their interest and go to bed!

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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