Bitcoin (BTC) Records 25% Drop From $10,900 to $8150 Since the Last Month

Bitcoin has never gained so much attention than this year since the day of its inception. BTC has established itself as the potential substitute for conventional currencies across the globe. It may not happen this year, but it is not even far away that the coin will be accepted across stores as an alternate mode of payment. The current market performance of the BTC coin is towards downward side and may change in the coming week.

As on October 5, 2019, at 03:16:13 UTC, the price of Bitcoin is noted to be $8,154.34, and it has recorded a massive decline of 25% in the past one month, dipping from $10,900.07 to its current price. BTC price may surge up to $8,300 in the coming 2 to 3 days and cross its yesterday’s high value recorded at $8,260. The price of Bitcoin may even cross its 7-day high of $8,497 to trade around $8,500 in the upcoming weeks.

Bitcoin Price Prediction

BTC remains to be a profitable cryptocurrency even in the current time of sluggish trends. The market fluctuations have led to some speculation regarding the future of Bitcoin, but most of the enthusiasts continue to believe that the coin will soon replace other cryptocurrencies. The price of BTC coin may trade above $12,000 by the end of 2019.

As per recent Bitcoin projections by experts, this is the perfect time to hold the existing coins or plan investments in the Bitcoin, and start saving up for long-term benefits.

Resistance & Support Levels

R1: $8260.25, R2: $8314.57 and R3: $8369.07

S1: $8151.43, S2: $8096.93 and S3: $8042.61