Bitcoin Price Analysis: BTC’s Price Rally is a Possibility after It Moves beyond $12,100

Bitcoin (BTC), since the starting of this year, has put tremendous effort to recover from the last year’s crypto winter. In the initial days of 2019, the coin could not get a start, but from April the growth of the coin is commendable. Here is an analysis of the coin’s price movement since the 1^st January. Let us first have a look at the coin’s current data.

BTC Price Statistics-

BTC to USD Price Comparison-

Bitcoin initiated its recover just before the onset of April. Between 25^th March and 10^th April, the gain percentage stands at 34.86. This growth took the coin from 3800 USD price level to 5200 USD price level. The next variation came as another hike in the value against USD. Over 38 days from 25^th April, the coin got a heads up of 3597 USD. And the most important swing happened between 09^th June and 26^th June. There is a 69.41% inclination in the value of the coin and it took the coin all the way from 7600 USD to 13,000 USD. From there, BTC is having a huge problem in retaining the momentum. In the second week of July, the coin lost almost 3000 USD and again got back to 9500 USD price level. However, the latest phase of the coin is moderately bullish. Towards the end of July, BTC started strengthening and gained 2449 USD by 07^th August.

The market cap on 09^th July was 225,673,162,206 USD and the value of each coin stood at 12,489.22 USD. The current market cap and the value are respectively 5.80% and 4.85% less than the data on 09^th July.

Bitcoin Price Prediction-

Bitcoin, as the top coin of the market, affects every other coin. With this huge responsibility, To know more about BTC Prediction, Bitcoin is likely to have a bullish before this year ends and it may reach as high as 15,000 USD. So, the long-term investment would be a prudent decision.

Above are the probable resistance and support levels of Bitcoin.