Bitcoin Price Analysis: Bitcoin (BTC) Performs a Quick Recovery by Rising Above $10,000

• Bitcoin recovers quickly from yesterday’s bloodbath; it is hovering around 10,300 USD.
• BTC’s last month’s performance hints at a price rally at the earliest.

After Yesterday’s quick fall below 10,000 USD, Bitcoin has been able to recover towards the closing of the day. Over the last 30 days, it has gone through four phases of price changes. The range of the value against USD is between 9100 USD and 12,200 USD. As stated in Bitcoin price projections, we should first look at the current details of the coin before analyzing the price movement trend of the coin for the month.

BTC Price Statistics-

BTC to USD Price Comparison-

Between 20^th July and 28^th July, BTC faced its first blow at 16.55% which pushed the coin from 11,013 USD to 9190 USD. However, the coin surprised the market with an enormous growth rate of 32.93% between 28^th June and 06^th August.  This hike is the reason the coin could touch its highest point of the day at 12,233 USD by 06^th August.  It was followed by two phases of deduction in the value of each coin against USD.  The first one happened over 4 days from 06^th August it deducted 868 USD, and the later one came on 11^th August, and by 15^th August, it has already served a cut of 1983 USD. The market cap of BTC on 16^th July was 195,623,929,233 USD, and the value of each coin stood at 10,950.18 USD. The current market cap and the value of each coin are respectively 5.06% and 5.48% less than the data for last month.

BTC Price Prediction-

Bitcoin, as the king of the market, has shown its strength by a quick recovery. The coin is yet to make a long journey for placing itself in a reasonable place. All the details of the resistance and support levels are listed below.