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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!

Raiden Red Eyes Successfully Deployed on Ethereum Mainnet

  • Thomas Hughes
    📈 Price Predictions

    The Raiden Network is a high-speed payments platform based on smart contracts and built on the Ethereum protocol

Raiden Red Eyes Successfully Deployed on Ethereum Mainnet
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The Raiden Network is a high-speed payments platform based on smart contracts and built on the Ethereum protocol. Their “Red Eyes” release is an alpha version used for testing and should be treated as such (bugs and other problems may arise).

Even if it’s just an alpha, its successful launch on the mainnet could bring Ethereum to new heights, especially if Red Eyes proves functional as a payment channel.

Chart Analysis – ETH/USD

ETH/USD chart

Lately, ETH has been moving like a rocket, posting 10% gains on Tuesday and a whopping 54% over the last 7 days, but currently trading at $129 against the US dollar after reaching a daily high at $139.

It must be noted that ETH/USD has not yet surpassed the 200 EMA on an 8-hour chart (at least not convincingly) and the Relative Strength Index is overbought (above its 70-level), so it would be wise to wait for a retracement lower before entering any positions but of course, this is not financial advice, just an opinion. In the longer term, 170 looks like the next target, with a cluster of resistance between 170 and 185.

Support zone: if the pair moves above 150, this will probably become support (as BRN - big round number); technical support sits at 122 – 125

Resistance zone: 170

Most likely scenario: move into 170 after possible retracements lower

Alternative scenario: sideways, choppy

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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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