Price Analysis

Bitcoin (BTC) Price Analysis: Bitcoin’s Intraday Trade Took the Worst Hit in a Year

  • Bitcoin (BTC) has suffered the worst intraday loss in a year.
  • The medium-term outlook is bullish; the target price should be 10,000 USD.

Bitcoin chart

At a time when the whole crypto sector is looking up to Bitcoin for market guidance, Bitcoin (BTC) has suffered the biggest intraday loss since January 2018. The fall has been recorded on Friday, and it shocked the investors as well as the experts. There has been news of overbuying of Bitcoins (BTC), and experts have credited this for an inflated price of Bitcoin. But the unprecedented fall took Bitcoin (BTC) on Friday from the starting point of 7880 USD to 6178 USD. This translates into a 1702 USD fall. However, the fall was not a long-standing one. It could recover in minutes. Currently, it is being traded around 7300 USD. We predict the value of Bitcoin to touch the highly anticipated value of 10,000 USD by the end of this year. Let’s now analyze the current status of the coin.

Current Bitcoin Price Statistics-

Bitcoin

  • Bitcoin (BTC) is the largest crypto coin in the global market with the highest market cap.
  • The ROI (Return on Investment) of Bitcoin (BTC) stands at 5293.46%.
  • A total of 17,706,600 BTC coins are in current circulation.
  • The market capitalization of Bitcoin on 18th May at 00:44 UTC stands at 129,605,424,412 USD.
  • The value of each BTC coin stands at 7319.63 USD.
  • The current 24h volume stands at 30,090,430,163 USD.

BTC Price Comparison-

The value of Bitcoin (BTC) has been performing with much stability throughout the year since the starting of 2019. One major growth can be seen at the onset of April. Since then the coin has been growing gradually. The market cap on 18th April was 93,185,578,513 USD, and the value of each BTC was 5279.02 USD. The current market cap is 39.08% more than the market cap of 18th April, and the value of each BTC has gained 38.65% in the last 30 days.

2019 Price Prediction of Bitcoin-

As mentioned earlier, the whole market for Bitcoin is on fire. After the crypto winter, the coin has been gaining momentum. Investors have been worried about the oversubscription, but no one wants to be missed out of the growth story. We predict the coin to reach as high as 10,000 USD by the end of 2019. The resistance level will be there around 8500 USD.

Conclusion-

Buying fresh coins is advised as in the long term it will give a huge dividend. A target of 10,000 USD is the minimum every investor should look for.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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