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Bitcoin Price Daily Analysis: A Slight Dip in Performance at an Average of $25869 on Sep 08, 2023

Bitcoin kicked off the day with a slight dip in performance as it recorded an average price of $25869. The world’s largest cryptocurrency by market capitalization seemed to fluctuate within the 24-hour price range of $26401 and $25652.

Despite the tumble, traders remained pretty engaged with Bitcoin by moving $12,282,216,977 within the last 24 hours. This placed Bitcoin’s market capitalization at a whopping $503,422,372,604. Keeping its dominance at 41951.8644%, the ‘digital gold’ retained its top spot in the market cap rank against other cryptocurrencies.

Over the last seven days, Bitcoin’s price range hasn’t shown any significant movements, with a marginal dip of -0.6537%. The price trend also indicated a downward direction, falling by -13.77337%.

Bitcoin Price Prediction: Next 24 Hours

Considering the last 24 hours trading volume and ongoing trends, Bitcoin’s price might continue to explore the lower range. However, the overall sentiment in the market can bring some changes.

Bitcoin Price Prediction: Next 7 Days

If the current trend persists, Bitcoin might continue to dip over the next week. However, as Bitcoin has a proven record of swift recovery, traders and investors could witness an uptrend after the slight bearish phase.

In its journey since inception, Bitcoin has marked its all-time high and low at $69045 and $67.81 respectively. With a circulating supply of 19,479,631 BTC against its max supply of 21,000,000 BTC, there’s a limited number of Bitcoin up for grabs, which might affect the price incrementally.

As the market sentiment hovers at 73.51%, it indicates a positive outlook amongst the investors and traders, suggesting that the community is optimistic despite the downslide. Given how Bitcoin often leads trends in the crypto market, this dip could influence other cryptocurrencies too.

Stay tuned for the latest updates about Bitcoin, as it continues to shape the dynamics of the global cryptocurrency network.

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