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[BTC|USD] Bitcoin Price Prediction: Will Bear Lose It Grip? Don’t Expect It To Leave Soon

  • Vera Thornpike
    📈 Price Predictions

    Bitcoin market is still driven by bears. What Bitcoin price prediction is, and will bearish tendency end this year?


[BTC|USD] Bitcoin Price Prediction: Will Bear Lose It Grip? Don’t Expect It To Leave Soon
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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

A few days ago, Hacked reported that cryptocurrencies are one month close to their longest bear market in history. As of 01/26/2019, the crypto bear market has been lasting 399 days, which is 3 weeks away from all-time record in 2014-2015. During that period, it lasted 420 days.

As for Bitcoin, cryptocurrency analyst Josh Rager noted, Bitcoin’s longest correction spanned from Nov. 2013 to Jan. 2015, lasting 410 days in total:


“Very soon, you will be able to say that you survived the longest crypto market correction in BTC history,” - he said.

Crypto community believed Bitcoin exchange-traded fund (ETF) will trigger the bullish wave in the market, but these hopes were shattered over the refusal from SEC. Recently, the Chicago Board Options Exchange pulled its application for the VanEck-SolidX Bitcoin Trust.

Does it all mean bear market will continue?

How long do we have to bear it?

While some crypto pundits make loud statements about Bitcoin reaching $30-50 in 2019, some take a more realistic look on the market.

  1. Kaspersky Lab claims that the price of cryptocurrency will stay at low levels because it won’t be commonly used as a means of payment. Besides, they believe that general expectations about cryptocurrency advantages will decrease.

  2. Tone Vays, a Bitcoin enthusiast/influencer, is sure that the bear market might last until summer 2019. His lower price prediction is $1,300.

  3. Having the same line of thinking, Arthur Hayes, CEO of BitMEX, has recently stated that bear market will last the entire 2019, and this trend may even last through the early months of 2020. This assumption is based on BitMEX Research’s analyses of bitcoin’s historical performance.

  4. Anthony Pompliano, the founder of Morgan Creek Capital Management, believes that positive trends on the market should be expected not earlier than Q3 of 2019. Pompliano explains that bear markets tend to last long: the bear market in 2011 lasted 160 days, and the second took place in 2013-2014 lasting 400 days. This time, according to the historical trend, it can last 650 days.

  5. Exchange market analyst Willy Woo says Bitcoin will reach its bottom in the nearest months. To make his prediction, he analyses NVT indicator (BTC market value between the daily trading volume in USD) and the average Bitcoin price in the last 200 days.

(Un)happy ending of Bitcoin bear market: 3 scenarios

Observing the precious Bitcoin performance, crypto experts consider and discuss three possibilities and Bitcoin price predictions.

Bitcoin development scenarios depend on support breaches
  1. We have already seen the worst, so the market will bound to its previous state. Bitcoin ETF approval can trigger price growth and save Bitcoin from complete capitulation.

  2. Bitcoin will range within $3,000 - $5,000. If there are no ETF approvals (which is likely to happen in 2019), Bitcoin will resume the bearish trend. Considering very acute Bitcoin reactions to trendlike breaks, there are two versions of bottom. The first bottom zone is around $5,000 area: it was reached due to ‘support and resistance’ lines. However, Bitcoin capitulates, and the $3,000 level is much more likely to hold. It means 85% loss of Bitcoin’s value from December 2017.

  3. Bitcoin hits $1,000. According to this theory, if the current ascending trend line changes, prices will fall further until reaching the beginning of mega bull run. Such bottom threshold lies in $1,200 area.

Behold, crypto winter that’s come isn’t going to finish in the following months. Don’t let it discourage you: it might be your chance to buy BTC before it starts skyrocketing again.

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TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Should Buyers Fix Their Profit or Not Yet?

  • Denys Serhiichuk
    📈 Price Predictions

    It looks that buyers are fixing their positions. In this regard, is that a chance to buy or we need to follow the general market mood?


TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Should Buyers Fix Their Profit or Not Yet?
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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

The situation on the cryptocurrency market has not changed a lot comparing to Thursday. Prices of most coins out of the top 10 have been reduced, however, there are 2 exceptions from the rule. Binance Coin and Litecoin are those ones that keep going up when other coins are ’’relaxing’’.   

Especially it is remarkable for BNB, whose rate has exceeded $20.


BTC’s domination rate is stagnating and now constitutes 52%.

BTC/USD

Friday, Apr. 19 has started for the main cryptocurrency with a red bullish candle, pushed down BTC from $5,274 to the $5,200 mark. Currently, the quotes are trading in the $5,200 - $5,250 corridor.

BTC/USD chart by tradingview

Yesterday, the main cryptocurrency managed to overcome the resistance of the Fibonacci level and tested the mark of $5,276 (61.8%).

If today we manage to return to this level, then the path to the $5,300 mark is possible. The target level of bulls will be reached, after which a pullback will start to fix positions.

On the whole, the BTC maintains an upward priority, but in the coming days, a flat range is also possible.

The price of BTC is trading at $5,256 at the time of writing.

ETH/USD

A general picture for Ethereum is even better than for BTC, as its price has not reduced so much.  Yesterday, the asset touched the $176 mark but was not able to consolidate it and rolled back to $170.

ETH/USD chart by tradingview

On the 1-hour chart, ETH has all efforts to come back to the $180 mark, which was achieved on April.10. That is confirmed by the RSI indicator and trade volumes.

👉MUST READ Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019
Ethereum 6 Month Price Prediction – ETH Price May Touch $375 Very Soon. ETH/USD Price Forecast 2019

However, taking into account fundamental factors, some Ethereum based projects have started to migrate to Binance Chain network. If such a trend continues, it could negatively affect the ETH’s rate.

The price of ETH is trading at $171.89 at the time of writing.

XRP/USD

Ripple is the biggest loser from the top 3 coins, as its rate has dropped by more than 2% over the last 24 hours.

XRP/USD chart by tradingview

The price of XRP is trading at $0.33 and continues to move within the growth and the downward channel. The quotes XRP/USD are moving inside the Ichimoku cloud, which indicates the presence of a lateral trend for Ripple.

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An impetus for growth renewal can be the recent news concerning the Huobi exchange which added 3 more trading pairs for XRP.

The price of XRP is trading at $0.3322 at the time of writing

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