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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!

IOTA Moves Closer to Total Decentralization

  • Thomas Hughes
    📈 Price Predictions

    IOTA (MIOTA) has dropped almost 14% during the last 7 days against the US Dollar and is in a clear downtrend

IOTA Moves Closer to Total Decentralization
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The IOTA Foundation is preparing to completely remove the central node that currently exists to prevent double spending that can occur when the network doesn’t have enough hashing power to be naturally secure. The central node is named Coordinator, and its coming removal has been dubbed “Coordicide” by the Berlin-based IOTA Foundation.

Although the Coordinator is meant to secure IOTA’s network, in theory it can allow the Foundation to prioritize certain transactions or to freeze funds. Also, it is a single point of attack (if it’s taken over or it stops working, network confirmations would stop), and it has been a limiting factor for scalability. The planned removal will occur sometime in 2019 and is widely regarded as bullish.

Chart Analysis – IOTA/USD

IOTA/USD chart

Although IOTA (MIOTA) has dropped almost 14% during the last 7 days against the US dollar and is in a clear downtrend, it shows potential for a stronger correction to the upside.

Currently the pair is trading at 0.23 but has printed a higher low on the second attempt to break 0.20 and is testing the bearish trend line seen on the chart above.

If this barrier can be decisively broken, it’s likely to trigger a move above the 50 period Exponential Moving Average (red line) and into the next resistance at 0.25. A break of the latter would score a major victory for the bulls, opening the door for further upside.

Support zone: 0.20

Resistance zone: bearish trend line (still not completely broken at the time of writing) and 0.25

Most likely scenario: break of trend line, test of next resistance

Alternate scenario: false break of trend line followed by another attempt to break 0.20

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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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