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[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

Ethereum Double Bottom Scenario Plays Out

  • Thomas Hughes
    📈 Price Predictions

    A couple of days ago, we spoke about a double bottom formed on ETH/USD charts, which is a strong bullish formation, and we predicted a jump higher

Ethereum Double Bottom Scenario Plays Out
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A couple of days ago, we spoke about a double bottom formed on ETH/USD charts, which is a strong bullish formation, and we predicted a jump higher. This scenario came true, and now Ethereum is trading at $106, comfortably above the major hurdle at $100.

Keep in mind that despite the major upside movement seen across the board over the last few days, we are not yet dealing with a bull market from a longer-term perspective. The entire 2018 has been bearish, and this cannot be erased by a few days of bullish action. Seeing green on the charts is great, but don’t go “all in” just yet.

Chart Analysis – ETH/USD

ETH/USD chart

With gains of almost 12% in the last 24 hours and more than 15% for the last 7 days, Ethereum seems to be at the beginning of a stronger recovery. Similar to other cryptocurrency pairs, ETH/USD shows an overbought Relative Strength Index, which is an early warning that a retracement lower will soon follow.

As long as this potential retracement doesn’t break any of the two Exponential Moving Averages, the bias remains bullish, anticipating a move into the next resistances (110 and 120 as psychological levels followed by the technical level at 127). If the pair remains above 100, it will greatly increase the chances of an extended bullish move.

Support zone: 95 – 100 and the two EMAs

Resistance zone: 110, 120 and 127

Most likely scenario: upside price action takes a “breather” (sideways or shallow retracements) and then continues into the next resistances

Alternative scenario: drop into the 50 EMA (red line)

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[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!

  • Denys Serhiichuk
    📈 Price Predictions

    💸🤑More than 1 year ago, Bitcoin cost $10,000. Despite the fact that the most popular cryptocurrency and the whole market was in a bearish trend last year, there are still positive forecasts from experts for 2019. We prepared a Bitcoin price analysis to show that both technical and fundamental factors can get BTC back to the important level of $10,000

[BTC/USD] Price Analysis: $10,000 for Bitcoin in 2019 — Is It possible? Of Course!
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Contents

Bitcoin is still the most popular cryptocurrency in the world. This year marks 10 years since its creation. Last year was not the best for cryptocurrency holders. After a long lull, many hope the value of Bitcoin will increase. There is reason to believe that in 2019 the cost of this cryptocurrency will reach $10,000.

Causes of the possible comeback

In favor of the appreciation of Bitcoin, many analysts of Forbes magazine offer negative forecasts of other cryptocurrencies. According to them, they will gradually lose their popularity. Fewer people trust altcoins. Forbes analyst Naeem Aslam argues that the cost of Bitcoin will not fall below $2,000 and may well overcome the mark of $10,000.

BTC Price Analysis

Analyst and expert in the field of cryptocurrency forecasts Kevin Cook notes that this month the volume of BTC transactions is on the rise and over the past five months has grown by 150%.

Thus, today it is impossible to say that Bitcoin is losing popularity.

On the contrary, its dominance in the cryptocurrency market is almost 51%, which allows the cryptocurrency to remain the focus of attention of potential investors.

Recently, a well-known BTC supporter, Tom Lee, suggested that the fair price for a popular digital asset should be between $5,000 and $20,000.

Tim Draper, a widely known crypto-optimist, also confirmed his forecast for cryptocurrency and expects its value to be $250,000 by 2022.

Bitcoin in 2019: what to expect?

The rapid growth of the Bitcoin rate can contribute to its implementation into the economy as a means of payment, and not as a stock exchange instrument. Optimism is added by plans of some large businessmen to accept Bitcoin. Although it was conceived as an independent currency, its entry into the world financial system would breathe new life into it. Now the US Securities and Exchange Commission is considering the possibility of creating Bitcoin ETFs. The decision is likely to be positive. This will attract several hundred billion dollars of investments and will have a positive effect on the cryptocurrency rate.

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