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This Is Why Bitcoin Price Will Surge Higher This Year

  • Thomas Hughes
    📈 Price Predictions

    💸✅Cryptocurrency traders, investors, and HODLer’s will be happy to learn that Bitcoin will surge higher this year📈


This Is Why Bitcoin Price Will Surge Higher This Year
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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.

Cryptocurrency traders, investors, and HODLer’s will be happy to learn that Bitcoin will surge higher this year. The world’s reserve cryptocurrency and the leading digital token has been undergoing a period of recuperation that will soon be complete.

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Last year, uncertain regulation, the so-called Fork Wars, and lack of awareness all played a role in the sharp sell-off and bear-market that has lingered into the current year. Now, many of the issues weighing on the market are disappearing or about to disappear and that is setting up conditions for a massive bull market.

BTC Price Prediction chart by tradingview

BTC/USD chart by TradingView

Fundstrat’s Tom Lee, one of the most prominent and outspoken BTC bulls, says macroeconomic trends are going to underpin the rally he thinks will start before the end of the year. He cites last year’s surging dollar and global market uncertainty as headwinds now gone. In his view, the technical picture is promising but it is the fundamental story that will drive value long-term.

The most important factor for Bitcoins value for Lee is the fact that it, and blockchain, are becoming useful. Banks like JP Morgan, Mizuho Bank, and Santander are all using blockchain while non-financials like Facebook and sovereign nations like Venezuela are also flocking to the technology. This is causing a shift of awareness that will spill into the retail sector and that in turn will further increase BTCs utility and emergence as a stand-alone asset class.

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Ironically, Lee says global turmoil is helping Bitcoin’s adoption. Venezuela is only one example where uncertain economic times, skyrocketing inflation, and mismanaged government are pushing people to the blockchain. Bottom line, Bitcoin is going to move higher, a retest of the all-time high (in my opinion) is all but certain.

The Six-Month Bitcoin Forecast You Need to Know Now

Bitcoin has been wallowing near long-term lows for several months now. In recent weeks the coin has begun showing bullish activity that is the first signs of movement in what will become a massive bull market. The near-term outlook is not quite as rosy, the token may continue to move sideways inside its range until one of a few things happens.

BTC/USD chart by tradingview

BTC/USD chart by TradingView

The first possibility is the U.S. government will finally adopt cryptocurrency regulation and/or allow the listing of a BTC based ETF. The next thing that may happen is an advancement in blockchain technology that may include but is not limited to enhancing BTC’s transaction speed and the much-needed and long-awaited upgrade of the Ethereum network; either could spark a massive rally in the entire market.

The final scenario, and possibly more likely, is that the market will slowly return to BTC. Investor confidence was sorely shaken last year, it is taking time for it to heal. Eventually, the market will build to a boiling point and spark a rebound in prices.

Cover image via u.today
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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.

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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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