Bitcoin Recovers From The Bears; Can it Maintain Its Efficiency Now?

Let us compare the price of the coin since the past one week when Bitcoin was valued at $9686.96 on 29-Aug-19 at 00:00 UTC. On the same day it fell as low as $9396.84. From the end of August,19 till about 2-Sep-19 the movement of the coin was almost at the same pace. There was no major rise or fall in the price of the BTC coin. Since 2-Sep-19 the coin seems to have gathered back its pace and has started to rise upwards. The coin may be traded today in the range of $10434.91 and $10656.41.

BTC to USD Price Chart:

Bitcoin Price

Bitcoin Price Analysis and Future Predictions:

Comparing the price of Bitcoin since the time it reached an all-time low in the chart, which was $9396.84 on 29-Aug-19 at 07:30 UTC and the current price, BTC reflects a bullish trend by 12%.

We anticipate that Bitcoin may continue with the same trend for tomorrow as well and can reach close to $10,636. In this month, it may be traded in the range of $10,163 and $10,707. By the end of 2019, BTC has all the potential to reach $12,247 if it is able to maintain its consistent performance.

As per today’s trend, we suggest purchasing the new BTC coins. The MACD indicator also points that the present movement of the coin is bullish. As per the RSI indicator, the number of coins being traded have been overbought and oversold, and now the number seems to be on the neutral side.

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