The past week has seen the Bitcoin price moving stupendously in the
upward range, even under the continual bearish influence. The coin has been
moving in the range between $6680 – $7402 over this period. Yesterday, BTC
faced steep fall, and as per its movement, it was likely to fall around $7k,
but today, it recovers tremendously and regains $7.3k price mark.
Bitcoin Price Analysis
BTC/USD has shown a tremendous upward momentum over the past
week, even under a strong bearish outlook. The coin was at $7007.06 on April
03. With the ongoing bearish volatility, the price of Bitcoin went on a
downward swing to $6679.56 on the same day, showing a fall of 4.52%. On the next
day, the coin marked moderate recovery and traded to $6873.88 by 3.01% hike. However,
the currency again faced bearish hold and went down to $6736.33 on April 05.
Further, from this low, Bitcoin
took an upward swing and reached a high of $7402.25 yesterday, showing a price rally
to the extent of 9.95%. However, at this high, BTC faced rejection and traded
downwards and fell to $7153.35. Then, again it marked a steep hike and traded in
the upward direction and reached $7353.27 today.
BTC price has
shown its mettle even under ongoing volatility. Analysts have always banked on
the capability of this coin to deliver great returns and consider it the best
bet for the long haul. Investors can continue to hold on to their investments
from a long-term perspective.