Bitcoin(BTC) Price Analysis April 2022

Bitcoin’s current price is around $39,832.06, with a low of $28,893.62 in a 1year timeframe, and has a market cap of 757 billion dollars.

Bitcoin On Chain Analysis

The recent price drop doesn’t mean that Bitcoin is worthless. On the contrary, according to the current price, most BTC holders are in profit. However, the bottom is still strong, and 58.26% of all addresses holding BC have an additional $BTC balance.

Bitcoin(Btc) Price Analysis April 2022
Global Bitcoin Trades

Bitcoin transactions have become the norm in the retail industry, and we have seen that some of the major changes in people’s Bitcoin balances involve having less than 10 BTC has soared to 2.08 million BTC. In comparison, 0.001 – 0.01 BTC and 0.01 – 0.1 BTC balances have increased by 2%.

Bitcoin Balance By Holdings
Bitcoin Balance by Holdings

 The volume of USD transactions is increasing. As a result, it reached its 7-Day high of $318.67 billion with a 7-Day low of $186.39 billion.

Bitcoin(Btc) Price Analysis April 2022
Dollar Spent for Bitcoin

BTC Market Price

BTC is currently worth around $39,800.31, according to CoinMarketCap. It’s had a low of $28,893.62 in the last year and reached its highest value in 2021 at $68,789.63, with a market cap of around 757 billion dollars, ranked 1st according to CoinMarketCap.

BTC Coin Market Analysis 

BTC has a max supply of 21,000,000 coins worth around $39,832.06 with a market volume of 32 billion dollars, whereas the market capitalization is 757 billion dollars at writing. 

BTC Price Prediction

In the 15Min timeframe, the $BTC/USDT price is breaking down rapidly and could break down 50%. Then further correction can be expected. We can consider it wave 2 of the impulsive five waves. Now, let’s observe some price action to confirm with volume the next possible.

Bitcoin(Btc) Price Analysis April 2022
$BTC/USDT price

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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