Bitcoin analysis- the week gone by December 2018

loading Bitcoin analysis- the week gone by December 2018

The king coin may get evicted from its throne if the current market trend continues, after the recent hard fork the coin went on to hit an all-time low and after that, the coin is struggling to find a strong platform to reach the heights. Graphs of the coin in the past week clearly demolished the hopes of a rising market among the crypto community. The week started with a market cap of $59,852,815,202 and price of the coin during the initial hours of the week was at $3,437.69. That is exactly how the coin started the week.                                                                                                                                                                                                                                                                                                                                                      loading

The coin had steep a rise in the graph during the first day of the week. After the spike in the initial hours the coin maintained a stable path throughout the day, the original coin escaped the sudden drop trend in the first day. The coin underwent a sudden surge in the initial hours of the day, the price of the coin reached $3, 486, 64 and the market cap raised to $60,708,004,254. This increase helped the coin to reach a stable market for the whole day. There were no sudden spikes or drops witnessed after the initial rise.

loading Bitcoin analysis- the week gone by December 2018

The second day of the week witnessed a sudden plunge during the early hours of the day. The plunge caused the coin to reach a market cap of $58,346,304,724 and price was at $3,350.65. This sudden drop caused a momentarily panic in the market. The coin got a push after the drop and from then on the coin started to climb the graph. Till the end of the day, the coin did not see another fall in the graph and the day ended on a positive note with a market cap standing tall at $63,481,912,504.

loading Bitcoin analysis- the week gone by December 2018

In spite of the previous day ending on a high, not the coin suffered a serious downfall in the following day. The coin was on an uncontrolled descent tumbling down the line. $ 63,481,912,504 was the market cap when the day started and the price was hovering around $3,600 mark. It is true the coin has seen both the side of the sword but this day of the week did not go as planned for the coin. The curve was searching for a new low to achieve and eventually the evening drop trend of the market affected the coin further. As the day was moving towards the end the coin witnessed a sudden decrease in price and reached a market cap of $60,992,693,938 and price was at $3,502.11. This caused the coin to decline further in the market before reaching the end of the day. After the dip just a few hours before the end of the day caused the coin to complete the day with the market cap of $61,155,507,377 and price was floating around $3,500 range.

loading Bitcoin analysis- the week gone by December 2018

Due to the fall that happened at the end of the previous day, the next day started slowly but that also helped the coin to get a stabilized graph. The first half of the day saw the coin gaining some stability.   Market cap at the start of the day was $61,196,128,531 and the price was hovering around $3, 513.74. The coin was maintaining a steady path before the drop in the evening the coin had a market cap of $60,641,122,671 and price was $3,481.65, but the drop caused the coin to reach a lower price when compared with the startling statistics of the day. At the end of the day, the coin started to get some hope and reached a market cap of $9,493,982,552 with the price hovering around $3,415.69.

loading Bitcoin analysis- the week gone by December 2018

Previous day’s fall was managed by the next day’s market. Bitcoin started its controlled ascent and it continued all day when compared with the previous day this can be called as a great day. It is vital to note the market cap and price of the coin when the day started because at the end of the day the coin witnessed a reasonable increase in the price and market cap. When the market started the price of the coin stood at $3,414.74 and the market cap of the coin was $59,477,375,296 after a period of gradual increase the coin reached a market cap of $61,167,838,445 and price at the beginning of the next day stood at 3,511.49.

loading Bitcoin analysis- the week gone by December 2018

loading Bitcoin analysis- the week gone by December 2018

As mentioned earlier the market had a bumpy week, with falling and raising the graphs of each coin looked like a moving worm. Bitcoin experienced the same.  After the initial hours of the next day, the coin started to tumble, again. This time the coin was getting close to the lowest ever mark. During the midday, the coin reached a low price of $3,406 and the market cap was $59,344,997,686. This was the lowest point of the day for the coin, the period after that saw a sudden increase in the chart making the market cap to reach $ 59,983,418,537 and price also increased reaching $3,443.25. This helped the coin to get a push towards the end of the day. At the end of the day, the coin maintained a market cap of $59,414,937,293 and price was at $3,410.55.

loading Bitcoin analysis- the week gone by December 2018

The trend of the declining graph before reaching the end of the day continues, after maintaining a gradual and steady graph from morning till late hours of the afternoon Bitcoin suffered a blow at the end of the previous day. The final day of the week started with a low market cap and price. Market cap of the coin further declined in the morning hours, the market cap of the coin was at $57,217,351,241 and the price dropped to $3,284.32 when the dip occurred in the morning hours. After the dip, the coin stared to maintain a stale path, at the time of writing the market cap of the coin stands at $57,653,415,420 and price of the coin is at $3,309.27.

With Bitcoin travelling in the downward trend all other Altcoins are following the path. For the past couple of months, the crypto market is facing heavy blows. The coins are spiralling downwards after the hard fork event in the recent past. May the approaching weekend bring a good news for the crypto community.

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