Bitcoin is often crowned as the ruler among the rest of the altcoins. The currency has many a time anchored the falling market alone. However, the coin was spotted falling in the last two quarters. The tremendous fall in the coin brought the price down from $13,000 to $6,500.
The coming term holds high expectations. BTC is likely to help the market to rally. The traders interested in the currency wouldn’t regret it as the future is predicted to be bright. If we look at the intraday movement, Bitcoin is anticipated to reach $7,500 soon.
BTC/USD Price Chart
Yesterday, Bitcoin began the day at $7,286 and then, jumped to $7,363 by 1.06%. The currency couldn’t stay there for long and slipped to $7,315. The coin moved up again and this time it went to $7,388 by 1%. Bitcoin price dropped again to $7,300 by 1.19%. The price improved and touched $7,386 by 1.25% and then, the price dropped by 1.13%. The improvement in the coin took place immediately and coin returned to $7,385 by 1.14%. The closing hours experienced heavy pullback pressure that took Bitcoin price to $7,327. Despite heavy movement in the price, Bitcoin managed to register an overall profit of a marginal 0.56%. Today, BTC started at a moderate pace. Recently, the coin improved and touched $7,367.
As per the Trade99’s analysts, the coin would breach the immediate resistance level at $7382 at any moment. The traders might expect a flourishing closing with the coin. Bitcoin is recommended for long-term investment. The short-term period wouldn’t give the desired return to the investors.