Price Analysis

BTC Price Analysis: Bitcoin Price Saw a Relief With Price Surge

With 2019 coming to an end, the crypto market is gearing for a bearish trend, as per the recent market analysis. However, Bitcoin price has seen a bit relief since the last 24 hrs.

Bitcoin is by far the topmost cryptocurrency by market capitalization as well as in terms of popularity. The year 2019 has been a disappointing one for this crypto. Currently trading at $7,316.18 USD, BTC has seen a surge of 1.61%. with a 24hr volume of $22,355,272,389 USD and circulating supply of 18,084,175 BTC.

BTC One Day Analysis:

BTC in the last 24 hrs has seen ups and downs. Wednesday late evening, Bitcoin price rose drastically by 3% and reached $7536.28. After a stagnant price growth, in the wee hours of Thursday as per UTC timezone, BTC price again dropped down to $7219.10 USD. This price drop was the lowest in the last 7 days.

BTC Technical Analysis:

Looking at the chart, the bitcoin price is clearly following a slight uptrend below the $7,320 level. Analysts are hopeful that Bitcoin will garner price till Christmas. 

Technical indicators:

  • MACD – The MACD is currently gaining strength in the bullish zone.
  • RSI (Relative Strength Index) – The RSI for BTC/USD is currently increasing going further away from the oversold levels.

What do you think of the BTC Price? Will it have a bullish trend until New Year’s Eve? Let us know on Facebook and Twitter.

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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