Bitcoin Price Analysis: Will XBT hit $11,000 next week?
Bitcoin is hovering below the $10,000 by the pressure of sellers but this bearish trend of XBT is not very strange as all the crypto markets are dipped in the bearish trend. The price rally of leading cryptocurrency is expected to rise and upsurge will test above the $10,000.
Bitcoin XBT Statistics
The market condition of bitcoin is indicated by Statistical values as follows:
Market Capitalization: $179,011,841,024 USD and 17,890,175 BTC
24 Hour Volume: $18,507,728,854 USD and 1,851,092 BTC.
Bitcoin Supply: 17,890,175 BTC are in circulation out of total 21,000,000 BTC.
Price Value of Bitcoin
The current price of bitcoin is standing at $9,980.81 at the time of writing. The ROI of XBT is hooking the positive mark of 7,295.53%.
Performance of Bitcoin in Q2, 2019
The bitcoin performed outclass during the period of the second quarter of 2019 as it increased by more than 10.4% during the specified range. The dominance of digital gold rose from 54.6% and held the mark of 65% against other cryptocurrencies.
According to a report by CoinGecko, the price value increased from $4,103 to $10,888 during Q2 of 2019. One reason behind this bullish trend is the announcement of digital asset called Libra by Facebook, a prominent social platform. The yellow zone in the chart given below demonstrates clearly the upsurge of XBT from April to the month of July.
Source: CoinGecko
Bitcoin XBT Price Prediction
The bitcoin price is hovering around the figure of $10,000 and the same trending behavior is seen from the past few days. There are strong support levels at 9814.013 (R1), 9761.21 (R2) and 8995.533(R3). The resistance levels are holding the positions at 10632.49(R1), 11122.49(R2) and 11450.97(R3) to hedging against the trend line of BTC. There is a strong support level at 9761.21 that will bounce the rally to the mark of $11,000 with a correction of almost $1000.
Conclusion
The crypto traders are very upset as cryptocurrency is not doing very well and a large number of traders and investors are selling the BTC which lead to the plummet in the tag price. But according to the technical analysis, it is going to achieve the rank of $11,000 in next coming days.
What do say about the price of bitcoin? Let us know in the comment box.
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