Bitcoin’s current price is around $18,566 by the time of writing, with a low of $17,708.62, and it has a market cap of 356 billion dollars.
BTC Coin Market Analysis
BTC has a total supply of 19,162,481 coins worth around $18,566 with a market volume of 57 billion dollars, whereas the market capitalization is 356 billion dollars at writing.
The bitcoin price rose 1.9% on Monday, gaining back the 2.5% it lost over the weekend trading periods.
The upswing in trading volume shows that people are eager and willing to buy the speculative asset again, which is a positive sign but only if this trend continues to manifest in markets moving forward.
Bitcoin has been experiencing a bullish trend in the early weeks of 2022. Although some traders are skeptical about the manipulation of bitcoin prices by whales, it doesn’t appear that this trend will change soon.
According to a new study by a cryptocurrency data firm, short-term mortgages have been taken out on bitcoins to purchase contracts that would go long. This has made Bitcoin sentiment turn pessimistic.
What is BTC?
Bitcoin is around $18,566 by writing, with a low of $17,708.62. It reached $68,789, and its current ranking is #1, according to CoinMarketCap, with a market cap of 356 billion dollars.
BTC Price Prediction
Bitcoin prices start the week trading higher after sinking below key psychological levels over the weekend. The trend reversed course on Monday. On the 4H timeframe, the price action of $BTC/USDT consolidates inside the symmetrical triangle.
Currently, the price is trying to break its resistance trendline. We have to wait for a successful breakout or breakdown, and after a retest, we will see the market’s next direction.
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Closing Thoughts
Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed 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.
