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Bitcoin (BTC) is starting to make waves again, and while they are still small, investors around the world are welcoming positive development positively. Cryptocurrency number one has just exceeded $ 4000, and while it is still five times lower than it was in early January 2018, it is more than $ 800 more than in early December 2018.
At the time of writing, the price of Bitcoin is $ 4,048.60, after the currency has recorded a growth of 5.53% in the last 24 hours. Meanwhile, its market capitalization is just over $ 70.5 billion, while the daily trading volume of the currency is $ 5.7 billion.
Bitcoin had a bad 2018, just like the rest of the crypto market. Indeed, money is so influential that it usually dictates market behavior, both positive and negative. At this time, the rest of the market is following the positive trend, with all the top 10 crypto-currencies currently traded in the green, while only a few of the top 100 coins are suffering smaller losses.
The biggest gains in the top 10 criptos by market capitalization are Litecoin (LTC) with an increase of 7.64% and Stellar (XLM), which grew by 7.27%.
Bitcoin's behavior in the new year was largely positive, which is a trend originally started on December 17, 2018. After a month and a half of constant losses, which brought the currency to new lows in 2018, the situation began to Improve. The currency eventually rose to reach $ 4,200, before a price correction that reduced its price to $ 3,780. After spending little time stabilizing and adjusting, BTC is slowly growing again.
This is not a race that experts hoped during the bearish months of 2018, but many believe it could be the beginning of stable growth that will mark 2019 and end up bringing institutional investors into the world of cryptocurrency.
In addition, many expect Bitcoin's Lightning network to become active, as well as the US SEC's approval of Bitcoin's ETF and the launch of the Bakkt exchange, scheduled for the second half of January 2019. In other words, there is much potential for BTC in the near future, and its price could get a significant boost if all that is actually expected to occur.
Meanwhile, analysts believe that the price of Bitcoin follows a specific cycle, which will replace the bear market with a bullish one, if not interrupted by a major negative event. Because of all these reasons, many expect that 2019 will be a good year for BTC and, judging by its behavior during the first week of the year, the predictions could be corrected.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not hold stakes in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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