- Bitcoin has gained 32.54% value in the last 30 days and traded from $7136 to $9458
- As per the current movement, BTC may show sideways trading due to lack of momentum
Bitcoin has come close to the end of January with a significant gain of 32.54%. At the starting of January, it was trading at $7136, and today, it is continuously aiming towards $9500. This uptrend is likely to be retained by Bitcoin, and it may go further near $10,000 anytime soon. However, at the time of writing, it started correcting downwards, but as per technicals, BTC still holds bullish momentum.
Bitcoin Price Analysis
On January 01, Bitcoin was being traded at $7136.05, and over the next week, it got strengthened by 18.20% and touched $8434.85. It was followed by another massive hike of 19.13%, and this upsurge could add $1474.99 in the value and pushed BTC price to $9186 by January 19. The last significant swing happened between January 19 & 30. Over these 11 days, Bitcoin’s value increased by 11.86%, and this upward movement took the price to the monthly high point of $9563.
The market cap of Bitcoin has seen a paradigm shift as well. It was at 130.446 billion USD on January 01, and in the last 30 days, it has been beefed up to 172.404 billion USD.
Bitcoin’s 20 days MA is trading above the current price. However, the current price has managed a marginal lead over the 50 days MA. As per the past performance of BTC and our analysis, the bullish trend is likely to continue in the medium-term. However, the coin may continue trading sideways as recently, it corrected downwards and touched $9458.
|Bitcoin (BTC)||Support & Resistance Levels|