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Bitcoin’s Volatility in the Last Week Indicates Uncertainty in Price Movements

 

 

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Bitcoin’s Volatility in the Last Week Indicates Uncertainty in Price Movements

  • Bitcoin loses value in one day and falls below 10,300 USD.
  • The last week’s volatility pushed the coin from 10,900 USD to 10,300 USD.

Bitcoin has faced another phase of price correction in the last 24 hours and this time; it has been pushed below 10,300 USD. Over the previous seven days, BTC has been through a volatile movement having four major price shifts. It has been traded from $10,900 to $10,300. Before analyzing the price changes, let us look at the current details of the Bitcoin.

Current Statistics of Bitcoin:

Bitcoin (BTC) September 10, 2019 02:49 UTC
Rank 1st
ROI (Return on Investment) 7,537.17%
Coin Circulation 17,926,087 BTC
Market Cap 185,721,214,237 USD
Value in USD 10,293.64 USD
All-Time High 20,089 USD
24h Volume 18,000,180,625 USD

 Bitcoin Price Analysis & Predictions:

BTC Price Prediction
BTC Price Chart by TradingView

Bitcoin’s first swing of the week happened between 03rd September and 04th September. This swing cost the coin $317 and placed it at $10,404.44. It was followed by a 5.05% hike over the next 2 days and this hike added $525.73 to place the Bitcoin price at the highest point of the week at $10,928.52. The third swing happened between 06th September and 09th September and this hike had a break on 08th September at $10,590. The last swing of the week is between 09th September and 10th September and this swing managed to give the coin a semblance of recovery. This 1.90% increment in the price took the BTC to $10,302.58 by 02:45 UTC of today. And then, Bitcoin recorded price drop and reached $10293.64 as of now.

Bitcoin’s last seven days have been full of volatile fluctuations and the uncertainty prevails on the whole market as well. Following are the calculated resistance and support levels:

Bitcoin (BTC) Resistance and Support Levels
1st Resistance $10475.21
2nd Resistance $10615.45
3rd Resistance $10780.59
1st Support Level $10169.83
2nd Support Level $10004.69
3rd Support Level $9864.45

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