Bitcoin (BTC) Loses 13% in 30 Days; No Quick Recovery is Likely

Bitcoin is currently trading around $10,300 mark after a free fall from $10,900 a few days back. The coin has shown immense volatility in the last 30 days. From $11,900 price point, BTC has shown four significant price variations and reached $10,300. Before analyzing the Bitcoin price swings, let us look at the current details of the coin.

Current Statistics of Bitcoin:

Bitcoin to USD Price Comparison:

The first swing of the month started on 9^th August and over the next 5 days, the BTC lost 19.77%. This fall took the coin from $11,929.79 to $9570.92. This was followed by a hike in the Bitcoin price by 14% and the coin added $1339.79 by 19^th August. The third swing of the month happened between 19^th August and 29^th August and this fall had a break on 25^th August. This fall is responsible for pushing the BTC price to its lowest point at $9426.08 on 29^th August. From there, Bitcoin saw some decent growth and with the help of a 15.63% increment, the coin reached $10,905.54 by 06^th September. The current value is a devaluation of $600. The market cap of Bitcoin on 9^th August was $211,305,851,156 and the price was at $11,929.79. The current market cap and the value of BTC coin are respectively 11.64% and 13.27% less than the figures for the last month.

BTC Price Prediction:

Bitcoin might have faced a setback for now; this is not a permanent one. According to Bitcoin price projections, the coin is likely to have a bullish run in the short-term. A price rally may help the coin to touch its monthly high. The next probable resistance and support levels are listed below.