Will Bitcoin Embark on a New Journey This Year?

Bitcoin has never failed to surprise its investors and loyalists. Just when Bitcoin worked with its full potentiality in December 2017, it went on a declining stride in 2018. However, the same declining stride turned into a surging trend this year where the coin even traded beyond $13,000 from the price mark of $3983.03 at the start of 2019. This manifests a growth of more than 200% in 7 months.

Will the remaining months of the year come up with the newest all-time high? Well, the same is subject to volatility and the speculative nature of the coin as well as the market. But, the rising trends since the start of the year until now, give an indication that the Bitcoin is likely to trade around $15,000 to $20,000 by the end of the year. Click here to know more about Bitcoin forecast from our forecast page.

BTC Chart:

Bitcoin price chart July 23

Bitcoin Current Market Statistics:

Bitcoin is currently trading at the market price of $10,194.76.

The Market Cap of the coin is $182,548,694,908 with a 24h volume of $16,219,603,680.

The current Circulating Supply of the coin is 17,832,762 BTC.

It currently fetches 7,465.46% Return on Investment (ROI).

BTC to USD Price Comparison:

As observed from the above chart, the year started with the price being as low as around $3983.03. However, the steady uptrend began from the month of April, that took the coin to cross new price benchmarks in order to march towards breaching the all-time high of 2017. No doubt, the coin has been falling and rising in between, but has shown immense potential with current trading above its major support level of $10,000.

Technical Indicators:

The 200-day SMA ($6185.68) lies below 200-day EMA ($7421.50). With respect to this the current price is less by 64.8% and 37.3% from the respective SMA and EMA.

The MACD of the coin shows a bearish crossover as the signal line is above the MACD line which means that the coin is having a declining outlook at present.

The current RSI of the coin lies above 40, that shows no extremities in the overbought and oversold region.


BTC to face its major resistance at $10,800 and $11,000, whereas if it plunges even further, the coin may face major support at $10,000.

Bitcoin Price Prediction and Conclusion:

As stated in BTC forecast, The price trend of the coin is likely to gain traction, and is expected that the coin may trade around $15,000 to $20,000 by the end of the year.

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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