• Possible resistance at $ 9530.9
  • Possible support at $ 9341.6
  • This week’s highest: $9,938.30
  • This weeks lowest: $8,990.18
  • Last 1 months highest: $10,199.56
  • Last 1 months lowest: $8,719.67 

There is some resistance around $9530.9 and the next resistance sits at $9643.1.

Newsherder’s BTC/USD Daily Price & Forecast of June 17, 2020 reveals that downward movement from current levels is expected for Bitcoin’s current price. With first daily support level breached at $9,431, Bitcoin is expected to move down towards $9,341.6 and $9,264.5. However, If Bitcoin is able to cross resistance level at $9,350.9, it may try to move up towards $9,643.1 .

Bitcoin in news:

Also read : Binance Pool Becomes The Largest Bitcoin SV Miner

  1. 2% increase in number of whales from Bitcoin’s recent halving

Since Bitcoin’s third halving on May 11, Bitcoin price rally has been slow but investor confidence remains strong in Bitcoin’s long term prospect.According to data from Glassnode, a blockchain analytics firm – as of 16th June, number of bitcoin whales was 1,840 which is nearly 2% up nearly from level of May1 of 1,811.

2.  Bitcoin difficulty mining rate rise to highest in 2 years

Auto adjusted mining rate for BTC/USD saw an increase of 14.95% difficulty levels, highest since January 2018. After the third halving, miners turned unprofitable and many moved out of the network.

Increase in difficulty levels will cause several miners to shut down their systems and consecutively move out of the network, this is because many miners use old systems to mine.