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2019 may be the best year for Bitcoin: cryptocurrency prices have been in stasis in 2018. However, this does not mean that there is no room for improvement. During the 1st 40 days per year, most cryptocurrencies have lost at least half their value. After the recent decline, however, many investors have actually returned to the cryptocurrency market. This is why analysts and experts think that this year may be the best for Bitcoin despite the shaky start.
The movement of chat prices indicates that the couple is almost completing a reverse head and a formation of the shoulders. Its neckline appears as a model of short-term prices that plummets recent bullish movements. The most recent jump in the BTC / USD pair confirms what the bulls are trying to break.
A break above the level of the neckline should create a run to the area of $ 4,500. This level of resistance is the best psychological, and its invalidation could confirm an extended action on upward prices that could lead to Area $ 5000.
Traders can wait for the BTC / USD pair to close above the neckline level to validate the authenticity of the breakout
At the time of writing, traders could watch the BTC / USD pair advance beyond the neckline to validate the authenticity of the breakout. This strategy will allow traders to go very close to their respective long-term upside targets. Alternatively, traders can place a limit order right above or below the neckline, to get an execution in the event of a rebound in Bitcoin (BTC) prices.
In addition to the reverse formation of the H & S market, the technical analysis of BTC is mostly oriented to the upside in the short term. The pair is traded over the MA of 50 periods. The RSI indicator is close to 60, waiting for a jump to confirm a stronger uptrend. We can see the MACD indicator inside a positive region. At the same time, traders may begin to believe that the price of Bitcoin (BTC) has actually hit the bottom. While the digital goods market has located a short-term region at $ 3430, then a fund can not be confirmed unless there is a constant pause and consolidation above the $ 4500 level.
The lower prices, however, indicate reductions in speculative excesses and help reduce volatility, said McGlone. "But the trend of this year is clearly sustainable – it's a positive trend," he said.
"The trend is a reduction in prices, lower volatility, a reduction in speculation and a preponderance of stable currencies," he said, referring to tokens designed to minimize price volatility. Until then, cryptocurrencies must find a basis to see more stability and "we are not yet close to this base".
Bitcoin improvements:
Many experts are positive about Bitcoin. Furthermore, the development of Segwit is bringing much hope to both investors and experts. With code improvement, Bitcoin will be able to process transactions faster. In addition, the Bitcoin transaction fees will be at the bottom. This is why many investors believe that once this code is implemented, Bitcoin will start to rise again. In addition, the lightning of Bitcoin will certainly contribute to increasing its value. With the help of lightning, transaction times would also be reduced. The problem is that there is still a word on the launch of the lightning network.
Other cryptocurrencies:
Bitcoin is only part of the cryptocurrency market. There are various other cryptocurrencies that are finding interest among investors. Many experts believe that while most countries and authorities focus on Bitcoin, other cryptocurrencies will also grow. This is why investors are accumulating Ripple and Ethereum in this downward phase.
Many investors also believe that the entry of institutional investors will have a significant impact on cryptocurrency prices. Some platforms already offer Bitcoin futures trading. While this could bring more investors to the table, but volatility may also increase.
In addition, the ICO industry is also expanding at a rapid pace. With ICO as a telegram that collects about 700 million dollars, it is a niche in the cryptocurrency market that can no longer be ignored.
Taking all these factors into account, experts believe this may be the year of Bitcoin and will be able to recover losses. Moreover, many experts believe that it will be able to make new highs thanks to which it could be the best year for Bitcoin.
Bitcoin Price Predictions 2019: How high is the price of Bitcoin in 2019? Up to $ 1 million or up to $ 100? (Detailed analysis)
Bitcoin prices in 2018 were marked by volatility that made short-term bitcoin price forecast a bit of a challenge, even for experienced analysts. So far, 2018 had presented its surprises, though not as dramatic as the roller coaster we say in 2017.
The story generally has a way of repeating itself, but the bitcoin has a lot of history that makes it an equal challenge to predict which story will be repeated. It takes a lot more than a study of past trends to get timely predictions right now and so we closed this article by highlighting some area experts who were watching.
Analysts, enthusiasts and industry figures have very divergent views and forecasts on both long and short-term bitcoin prices. Optimism is still high in many quarters – reports from a new survey among UK financials suggest that a large majority will buy more coins in hopes of a resumption of prices by the end of the year.
As we delve into who's saying what and why, here's a heads-up. Expect many more price fluctuations in the meantime. It will be a bumpy ride to get anywhere Bitcoin is in the lead by the end of the year.
Surely, Bitcoin is directed – John McAfee
John McAfee, Bitcoin supporter and founder of the famous McAfee antivirus software, is very positive about Bitcoin. He predicted that the price of Bitcoin will reach $ 1 million by 2020 after last year's forecast of $ 7,000, which was exceeded.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””“BTC has accelerated much faster than my model assumptions. I now predict Bitcoin at $1 million by the end of 2020. I will still eat my d**k if wrong” – John McAfee[/perfectpullquote]Apart from the economy at the base of Bitcoin's limited supply, its forecast took into consideration factors such as the increase in the adoption of Bitcoin and blockchain and the total capital cap of cryptocurrency of about $ 162 billion, which offers ample room for growth.
Expect stability only after 10 years – Kristjan Dekleva (Hedge)
The financial expert based in Switzerland will give us courage for a decade of turbulence before any hope for a stable bitcoin. This suggests that it will coincide with a general acceptance of Bitcoin even in difficult China. This however, not as a fiat substitution but as a valid alternative.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In my opinion, it will take at least 10 years to see stability". – Kristjan Dekleva (Hedge)[/perfectpullquote] The finance expert of the Hedge cryptocurrency project sees the investments in Bitcoin all too similar to the DotCom bubble of the years' 90. [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"In the short term, falls have been driven by emotion and in many cases by misinformation – a small voice can have a big impact …Demand is driven by market speculation, but the absence of institutional investors means that the market is unstable.[/perfectpullquote]Instability is. The next stop is the prestigious Harvard.
Bitcoin will shrink to $ 100 – Kenneth Rogoff (Harvard Prof and former head of the IMF)
Known for his disparaging remarks against Bitcoin, a former chief economist of the International Monetary Fund (IMF), Kenneth Rogoff poured icy water on the hope that Bitcoin had arrived on the moon.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"I think Bitcoin will be worth a small part of what it is now if we go out in 10 years from now … I would see $ 100 as much more likely than $ 100,000." – Kenneth Rogoff[/perfectpullquote] Rogoff's prediction is based on his long-held belief that governments will rise up against anonymous virtual currencies like Bitcoin. The government regulations, according to Rogoff, will burst the Bitcoin bubble but a Bitcoin pioneer on Wall Street thinks on very different lines.Bitcoin is the future; Fiat has passed – (Tim Draper, Venture Capitalist)
In 2014 with bitcoins for only $ 413, the popular VC, Tim Draper predicted bitcoins to reach $ 10,000 in three years. This came true a month earlier than expected to earn a reputation among cryptographic fans. Although he did not categorically expect a $ 100k Bitcoin in 2018, he said he expected Bitcoin to continue its growth in an interview with Bloomberg last year. Tim Draper has made successful bets with Tesla, Skype and Twitter in the past.
Assuming that this growth takes place at the same rate as the 3-year journey up to $ 10k, we are six figures. Maniacal, right? That's exactly what Draper tries out of Bitcoin's prospects. Now on someone who understands a lot about the bitcoin foundation.
Bitcoin will hit $ 40,000 – Llew Claasen (executive director, Bitcoin Foundation)
Last month, Llew Classen made a bold statement to reassure Bitcoin believers that cryptocurrency is on the right track, in particular, on its way to reaching the $ 40,000 mark. Although his view of some altcoin supporters has not been very encouraging, he made it clear that as something new, the cryptocurrency will be as risky as it is exciting.
Bitcoin will reach $ 320,000 a day – Cameron Winklevoss (co-founder, Gemini)
One of the famous Winkelvoss twins, Cameron Winklevoss recently stated that he could easily see the price of BTC rise by 40% a day. Maybe this year? Not likely The twin said that he and his brother were taking a longer perspective, 10 to 20 years.
"Bitcoin is currently fixed in the supply, so it's better than poor … it's equivalent to better gold across the board.We think that regardless of price changes over the last few weeks, it's still a very little appreciated resource." – Winklevoss
The fourth richest investor in cryptocurrencies has weighed the bitcoin against gold and has issued a resounding verdict. "We believe that the bitcoin upsets the gold" He said.
Bitcoin will reach $ 1 million – Bobby Lee (BTCC Exchange CEO)
Bobby Lee, CEO of Bitcoin's first Chinese exchange at London Blockchain Week, exaggerated his prediction. Lee said bitcoin will exceed $ 1 million but unlike McAfee, he could see it happen in 20 years.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]"Bitcoin, I think it will reach $ 1 million per bitcoin … Right now it's 10,000, it will go to 100,000 and then to 200,000, 500,000." – Bobby Lee[/perfectpullquote]IN SUMMARY
A good number of analysts have also had their opinion even if very few would have been dragged into real forecasts. We have observed a general tendency in their evaluations.
Expect price fluctuations:
In this phase, bitcoins and cryptocurrencies will be strongly influenced by speculations. Even small developments in governments, traditional prices will probably affect prices. Most say that fluctuations are normal and do not affect long-term prospects.
Long-term prospects
Experts would prefer to make predictions over a longer period. It is more common to have bitcoin price forecasts for 2020 or a 10 to 20 year perspective. While current reality may suggest a bit of sadness, it is worth remembering that the heights reached last year have come amid similar corrections along the way. It is only the 1st quarter of the year.
Bitcoin will be the standard for virtual currencies.
Although bitcoin may have a limited use case, it has been suggested to remain the king of all cryptocurrencies. It will not be about "which altcoin will exceed bitcoin" rather than how they will impress on their special use cases. It is a fact that the technology behind bitcoin is less sophisticated than many other projects such as ethereum.
Bitcoin as a reserve of value
Little by little, bitcoin is seen more as a store of value than a real currency is compared to gold and other assets. Bitcoin was originally designed as an alternative currency to cash out the unbanked. Most decision-making bodies and financial experts, however, see Bitcoin more as a store of value, a resource rather than a means of transaction.
Many Altcoin will suffer
Part of the process that will lead to the general acceptance of cryptocurrencies will include a cleanup of "useless" cryptocurrencies. A good number of the 2,000 coins will naturally go as their value becomes useless: some, only a fraction of a cent. Brad Garlinghouse, CEO of Ripple and Llew Claasen of Bitcoin Foundation are among those who raise this alarm.
Scarcity economy
The limited supply of bitcoin, a fixed supply of 21 million BTC, will play a role in its price; if not now, in the future.
External factors will play a significant role
Many observers believe that the external factors that influence the adoption of bitcoins will ultimately determine the price in the short term. The creation and trend of futures markets are expected to pry the price in both ways.
There are still concerns about bitcoins used for illicit purposes
Because of the anonymity of Bitcoin transactions, it was used to conduct illegal activities that give Bitcoin a poor overall image. This image, according to analysts, will influence its adoption and, ultimately, its future prospects.
Finally, attention to the risk of life savings
Crypto investments are new and super-risky. Remember the ethereum founder who claims that the criptos are so risky that the premiums could actually drop to zero. Well, that does not seem practical but the message was clear. Do not invest the savings of a lifetime in bitcoins or cryptocurrencies in general. Just as John Draper noted, you still need to buy things in fiat. So even if the bitcoin will evaluate much more in the future, it is advisable to invest as much as one can afford to lose.
