BTC Price Analysis July 2022

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BTC, also known as Bitcoin’s current price, is around $19,300.01 by the time of writing, with a low of $17,708.62, and has a market cap of 368 billion dollars.

Bitcoin On-Chain analysis

The amount of Bitcoin held by the largest holders has reached a new record high. Hundreds of thousands have been invested in Bitcoin, with over 776k BTC being controlled by what are essentially one hundred Bitcoin wallets. Over 16% more Bitcoins have found their way into these entities in the past 30 days alone.

Bitcoin Hodling At New Highs
Bitcoin HODLing at New Highs

Miners are scrambling to sell their Bitcoins to cover loans & business expenses. However, with Bitcoin’s Hash Rate staying at historically high levels and the price hovering around $20k, it is increasingly difficult for them to break even. As a result, the reserve for mining companies has dropped by 18,251 $BTC since June 14th.

Btc Price Analysis July 2022
Miners Selling Bitcoin

As the BTC price declines, the value of Bitcoin (BTC) rapidly decreases. As of today, 54.28% of addresses are out of money. However, 45.58% have bitcoins that are still worth something.

Btc Price Analysis July 2022
54.28% Bitcoin Addresses are Empty

What is BTC?

BTC is worth around $19,300.01 by writing, with a low of $17,708.62. It reached a high of $68,789.63, and its current ranking is #1 according to CoinMarketCap, with a market cap of 368 billion dollars.

BTC Coin Market Analysis 

BTC has a total supply of 19,083,362 coins worth around $19,300.01 with a market volume of 18 billion dollars, whereas the market capitalization is 368 billion dollars at writing. 

BTC Price Prediction

On the 4H timeframe, the price action of $BTC/USDT is still trading in the same range, Indecision in the market. So we have to wait for the perfect levels. Our expert believes it will go down further as USDT dominance doesn’t look good.

Rangebound Trading In Bitcoin
Rangebound Trading in Bitcoin

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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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