The Initial Strengthening of Bitcoin (BTC) Has Faded a Bit Away

While most of the big corporations and industries like Facebook are pushing for the mainstreaming of crypto coins. The CEO of Twitter, Jack Dorsey, stated that Bitcoin will continue to be adopted more widely, but it is still too early to consider it a currency. However, he further told that the gap between the gain and loss in BTC is like investing in gold. “What we need to do is make it more usable and accessible as a currency, but it’s not there yet,” he added.

Bitcoin Price Comparison and Forecast:

Let’s compare the fluctuation in the price of Bitcoin over a period of 25-days. On August 11, BTC was valued around 11,360.98 USD. However, in comparison to that, the coin today is trading with a decline of 6.74%. In the weekly chart, the crypto has shown a hike of 12.53% from the trading price of 9,416.87 USD on August 30. Yesterday was a flattish day for the coin where it slowed by a marginal value of 0.25%. The coin opened, the other day, at 10,621.18 USD and wrapped at 10,594.49 USD.

Bitcoin Price Chart:

Bitcoin Price

The initial consolidation in BTC has slowed a bit down, but it’s not the end of the bullish trend. As per our speculation, the coin will trend around 15K USD by the end of the year. As of now, the immediate resistance for the coin is at 10,759.85 USD and additionally, the support level is at 10,431.92 USD.

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