[ad_1]
The 2018 results for Bitcoin show that cryptocurrency has plummeted by nearly 75% from the high price of $ 18 000 at the low price of $ 790 as of December 27, 2018.
This article deals with Bitcoin 2018 price forecasting and Bitcoin 2019 price forecast. Bitcoin 2018 results show that cryptocurrency has fallen nearly 75% from the high price of $ 18 000 to the low price of $ 3 790 of the December 27, 2018.
The following monthly chart of Bitcoin is indicative of the continuous and very strong sales pressure in 2018, making today a Bitcoin forecast a very difficult task. Nevertheless, we will forecast Bitcoin prices for 2019 and beyond, based on some expert opinions and technical analysis. After a summit formed at the beginning of January 2018, the price of Bitcoin followed only one trend – a very strong downward trend for the rest of 2018. C & # 39; is a fund, however, formed in December 2018 near at the price level of $ 3 200?
From the above graph it is not unreasonable to argue that the immense price acceleration of Bitcoin at the end of 2017 and the collapse of its price in 2018 is a bubble that they call in financial textbooks. It was just speculation and momentum trading that moved the price so high and was the realization that this price of about $ 20,000 was unjustified on the basis of the fundamental key factors of Bitcoin which made 2018 one of the most difficult years for the cryptocurrency market?
Pricing of bitcoin prices 2018
Forecasts on bitcoins are mostly an opinion, even if supported by some arguments and even a technical analysis can make a Bitcoin prediction attempt have at least some valid arguments to support it and have some validity . In our previous article about the Bitcoin projections for the end of 2018, we wrote the following:
"If support above $ 4,000 will hold for several days, our base scenario is for a Bitcoin price of around $ 4 700 for the remaining days of December 2018. This is based on the concept of average reversion trading, when volatility has expanded significantly since mid-November 2018. If high volatility is to be followed by low volatility, then a correction in prices at higher levels is quite likely to occur. "
Pricing of bitcoin prices 2019
In 2018, both bulls and bears had difficulty predicting the price of Bitcoin due to the increased volatility experienced throughout the year, which made the task almost impossible. For 2018, we read forecasts of Bitcoin for $ 50,000, $ 100,000 on the optimistic side, and $ 3,000, $ 6,000 and almost zero from the well-known economist Nouriel Roubini.
Will 2019 see a stronger or stronger selloff for the Bitcoin price? What do the experts expect?
Pricing of bitcoin prices 2019
What is the Bitcoin perspective for 2019? Some of the experts in the cryptocurrency market have talked about the future of the largest cryptocurrency by market capitalization and have also provided a range for Bitcoin price forecasts in the coming year. Will this bear market and intense selloff end in 2019? Many investors, both individuals and professionals, have lost a lot of money if they have chosen the long-only side, buying the cryptocurrency while moving towards lower price levels, perhaps trying to grab a falling knife and the real bottom of the price.
Here are some of the predictions made by the Bitcoin experts in 2019:
"Some potential institutional candidates are Marco's CTAs of funds, multi-strategy funds and alternative strategies have about $ 600 billion of AuMs. The only resources of raw materials held by hedge funds amounted to $ 300 billion in 2017. They represent the 10% of AuM BTC could fall into this bucket Macro funds are potential institutional candidates, but current circumstances are desolate. "- Boris Hristov.
According to Boris Hristov, who is a Bitcoin researcher and technology, a price catalyst to find a potential fund and move higher in 2019 will be the scenario of large institutional investors entering the market. But this scenario could occur in the future only if market volatility will be less extreme than current market conditions.
"If you're short, we think you should be very careful and reduce your short exposure, I think if you're trying to be long it's here that you start adding here to your long exposure," said Fundstrat's Robert Sluymer. In other words, a potential fund for Bitcoin is close and a downward shift in trend is possible at these low levels of around $ 3900, but as always the confirmation of this trend change is required.
A very optimistic Bitcoin price forecast was made by John McAfee, Bitcoin supporter and founder of the famous McAfee antivirus software, which predicts that the price of Bitcoin will reach $ 1 million by 2020.
Pricing of bitcoin 2020 prices
Here are some forecasts on Bitcoin prices for 2020:
Sam Doctor, Quantamental Strategist at Fundstrat Global Advisors:
"We expect the mining economy to grow over the next few years and project a BTC price of $ 36,000 by the end of 2019 based on the average historical multiple of 1.8x P / BE."
"The price of Bitcoin can be anywhere in 5 years, from $ 10,000 to $ 100,000. An exact prediction is difficult to provide because there are numerous fundamentals that are likely to change from now to today. [then]. Currencies and digital resources are the future of transactions and storing values, and Bitcoin is leading this revolution. But this does not make it easy to guarantee a specific price five years away, "says Joe DiPasquale, CEO of BitBull Capital.
"I think BTC could potentially reach higher figures by 2020. But for the next year or two, it will still be under the $ 10,000 mark, but then again, the end of 2019 is essentially millennia," says Fred Schebesta, co- founder and CEO of Finder.
"Your hypothesis is as good as mine, my price forecast for Bitcoin in 2020 is $ 30,000," says Craig Russo, co-founder of sludgefeed.com.
"In 2020, my BTC estimate is $ 75 000, which is approximately 10 times the price today, and a total market capitalization of $ 1.3 trillion," says Brandon Quittem, Cryptocurrency Analyst & Writer.
Pricing of Bitcoin 2025 prices
"I'm not able to guess because there are so many factors that it's impossible to say I would say that the lack of adequate security is currently the biggest obstacle to mass adoption of cryptocurrencies," says Alessandro Benigni, founder of coinhooked .com.
We are in agreement with this opinion, adding also the regulatory and fiscal issues. Making a forecast for 2025 is just an opinion, and in no case a financial advice. As history has shown, forecasts on financial instruments tend to be very inaccurate, and this is something we witnessed in 2018 as many experts were optimistic about the price of Bitcoin moving much higher than the maximum format for $ 20,000.
We will conduct a technical analysis for the Bitcoin price to express our opinions, but this will only be for 2019, a short-term forecast.
Bitcoin technical analysis for 2019
Our price level of $ 4,000 as an initial hurdle appears to be valid as the price has reached $ 4,300 and has dropped back below $ 4,000, currently at $ 3,980. We have seen a recent fund formed at $ 265 with a confirmation of the double minimum. But the current trend is still a downward trend sustained by the decline of daily exponential moving averages of 20 and 50 periods respectively.
However, the 20-day daily exponential moving average has changed its inclination and is now slightly higher, while the 50-period exponential moving average has not yet changed its slope. The recent figures for the 20 and 50 periods exponential moving averages are $ 3 836 and $ 4 469 respectively. The daily Bollinger Bands are $ 3 115 and $ 4 184 respectively for the lower and upper band and have shown a decrease in volatility in recent days. Strong support levels are $ 3 265 and $ 3 670 and strong resistance levels are $ 4 290, $ 4 480, $ 6 100.
The strength of the trend is still strong, but has shown to lose momentum, which means that in fact the fund close to $ 3 265 could remain in the future and a range of consolidation could be evident. What is interesting and noteworthy is the fact that the value of + DI line in the ADX / DMI indicator is now at 23.52 and has exceeded the value of -DI line now at 16.88. This crossover after a selloff from the price level of $ 6,500 to the recent low price of $ 3 265 is very important.
The importance of the 200-period exponential moving average is hard to ignore for our Bitcoin forecast in 2019. This moving average is largely followed by institutional investors as it represents the long-term trend that takes a long time to change. The figure for the 200-period exponential moving average is currently $ 6 080. This is our target price for 2019 if a downtrend trend change occurs in 2019. We can not predict higher levels as our financial analysis shows that in fact the main catalysts that could move the price to higher levels in 2019 are now non-existent in the cryptocurrency market.
Certainly, the scenario of institutional investors entering the market is optimistic for the price of Bitcoin. For now, the challenges for Bitcoin in the next year are many and severe. What prompted the price slump is perhaps momentum trading that suddenly changed to $ 20,000 in price levels quickly. The pessimism of the market on the short-term prospects of Bitcoin could continue in the new year. But if the bear market in 2018 will end, it should hold at least the price level of $ 4 000, and do not forget that our price target of $ 6 080 is 50% higher than current price levels, showing a significant price variation. This is not a financial advice, but rather our Bitcoin price forecast for 2019.
Source link
