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Bitcoin (BTC) Price Forecasts 2019: $9,500 Is the Least to Count on. BTC Scenarios for the Following Months

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Bitcoin (BTC) Price Forecasts 2019: $9,500 Is the Least to Count on. BTC Scenarios for the Following Months
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

As the latest bullish run has shown, Bitcoin is strong enough to break resistance levels one by one, and even the long-awaited goal of $9K has recently been achieved followed by a serious retracement.

What are the chances for Bitcoin to grow higher? Let’s discuss BTC price predictions for Q3 - Q4 2019 and see what do crypto influencers think about the world’s most famous cryptocurrency.

Bitcoin achievements and projections

The current situation can be formulated in the following points:

  • With 63% month-to-date gains, BTC seems to have entered its longest month to month winning period since August 2017.

  • The falling channel breakout seen on the month to month diagram supports a rally to key Fib resistance of $9,442.

  • BTC has beaten one of its yearly highest highs hit recently. It has managed to reach $9,000, as the day by day diagram flag breakout affirmed on Sunday has been validated

  • The bullish trend would weaken if the value dips under $8,000.

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So, what to expect from Bitcoin?

Bitcoin (BTC) is on track to enroll its longest series of wins since August 2017, with four months of value gains.

The bulls generally chill out after making such price jumps, and a sound adjustment might be seen throughout the following days.

Yet, a drop right back to the month to month opening cost of $5,267 before Friday's UTC close looks impossible, as both the present moment and long haul specialized examinations are one-sided bullish.

For example, BTC is at present is seeing a lot of buying weight since December as indicated by the week by week money flow index. 

The crypto is trading great over the 200-day moving normal (MA) – a widely followed indicator of the long haul pattern. The average is now situated at $4,544.

So BTC looks set to finish in the green for the fourth straight month, having grown 11, 8 and 28.6 % in February, March, and April, individually. The run denotes the longest month to month series of wins since August 2017.

BTC price chart from CoinMarketCap

Right now, if the correction pushes Bitcoin below $8,000, it’s more likely to start the bear run. Hopefully, it can keep a bit longer and reach $9K again.

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Crypto experts share one opinion

One famous British comparison website has analyzed the opinions of ten crypto experts and came to the conclusion that despite slight dissimilarities in their vision, all of them are expecting BTC to end 2019 having reached $9,500 level successfully.

The panel of 10 experts included Joseph Raczynski, Craig Conn, Jimmy song, and other influencers.

They were asked to describe their thoughts about top 10 cryptocurrencies and share their predictions. 4 of survey participants claimed that BTC will be able to touch $20K level during the next bull run.

50% of panelists also agreed that BTC can repeat the history from 2017, though it will eventually cool off after the parabolic run.

We are entering a new period with Bitcoin. Many of the institutional players have said they are done with this experiment (publicly), which may be the case [but] I think privately, some other hedge funds and other institutions will continue to invest during this lower period.” - Joe Raczynski

The reasons for the recent spike can be different, here’s what crypto influencers think:

Here’s why BTC surged
Graph from Finder.com

Most probably, the combination of these factors will push BTC price upwards by the end of 2019, too.

Bottom line

In the light of the fact how difficult it gets for BTC to break resistance levels above $8,500, we can say that breaking $10K won’t necessarily happen in summer – it might be observed by the end of 2019.

When the bearish period ends if it starts soon? No one can say for sure. But it’s getting clear that hitting $20K level again will be too hard this year.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper

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    World-famous investor and Bitcoin bull Tim Draper explains what reasons will push Bitcoin price to $250,000 by 2023

Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper
Cover image via en.wikipedia.org

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

While speaking to the audience at the Malta AI & Blockchain Summit last week, the billionaire and prominent Bitcoin supporter Tim Draper confirmed his previous forecast for the BTC price hitting $250,000 in the near future.

This time he explained that this high price per one BTC will be achieved through the growing use of the Lightning Network and explained how it will happen from his point of view.

Bitcoin still to hit $250,000

The Bitcoin permabull Tim Draper again stated that the Bitcoin price is going to hit $250,000 by 2022-2023. He said this will happen due to the growing use of the Lightning network which allows conducting payments in BTC easily.

Being a major global investor, he nevertheless shares the opinion of many crypto enthusiasts that BTC is not only a store of value but it can also be used to pay for things in everyday life – micropayments, the retail sector, etc, i.e. is perfect for adoption.

Previously, Tim Draper stated that his forecast of BTC reaching $250,000 was actually a quite conservative prediction.

Will Bitcoin get to be worth $1 mln?

As reported earlier on Wednesday by U.Today, the crypto asset manager and a trader Marius Landman tweeted that before Bitcoin hits $1 mln, it is bound to go through ‘super hyper inflation’, in which price drops by $20,000 will be considered insignificant.

He also expects Bitcoin and Litecoin to show ‘subito motus’ (Latin for ‘sudden movements’) soon, saying that this will leave uninformed investors and technical analysts at a loss.

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Smaller bullish BTC forecasts

Other traders and analysts seem to think more vaguely when they are looking at technical analysis graphs. They are bullish, nevertheless.

The @crypto_rand trader with over 216,000 followers on Twitter simply posts a chart, saying that Bitcoin ‘still looks bullish’.

Another analyst and trader PlanB has published a chart of the way the changes in the Bitcoin mining difficulty have impacted the BTC price. People in the comment thread agree that this data at the moment is bullish for the Bitcoin price.

At press-time, Bitcoin is sitting at $8,823.

BTC price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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