Bitcoin’s Value Decreases by 0.53%

Bitcoin (BTC) is worth £19,944 ($24,031). It is down 0.52% from yesterday’s result of £20,050 ($23,048), up 11.01% from one month ago, and down 1.68% from the previous week.

At today’s price of £18,944 ($24,031), if you bought one Bitcoin at the 52-week low of £14,485 ($17,709) and sold it, you would receive £5,659 ($6,322) for a profit of 37.69%.

Within the past 24 hours, Bitcoin’s price has decreased by 0.52%. The bitcoin price is lower than its 52-week high, which was £50,843 ($68,790).

The previous week, Bitcoin experienced highs of £20,745 ($25,135) and lows of £17,870 ($22,772).

The overall value of cryptocurrencies has decreased over the last three months. Its cost has decreased over the past 90 days to its present level of £19,932 ($24,021).

Alternately, you would have lost 61.77%, or £30,910 (minus $43,759), if you had bought a single Bitcoin at the 52-week high of £51,843 ($69,790) and sold it at the current price.

Crypto Market Is Picking up The Pace

After a rough period, the crypto market appears to be steadily regaining its power. It no longer has selling pressure from bitcoin miners as the price of the first token approaches $25,000.

Public miners, in particular, sold 6,500 of their Bitcoin holdings in July. In contrast, in June, they sold about 14,600. This was when they had to sell off their BTC on a large scale to keep their operations running.

Hence, in the two months, BTC’s sell-off has fallen by nearly 58%. Still, higher than two months ago when public miners faced the decreasing profitability of mining on a wider scale.

Bitcoin miners surprised the community in May when they sold off more than 100% of their output. In June, public miners sold four times as much as they did in May, selling about 400% of their output despite severely depressed market circumstances.