March 20, 2019, | AtoZ Markets - As Bitcoin price continues the search to find the bottom of its current bear market correction, there’s no denying just how important the upcoming days for the crypto are. Many crypto experts believe that the next two weeks are the most important one for Bitcoin, as price approaches yearly downtrend resistance and that has proven to trigger massive selloffs throughout 2018 and the ongoing bearish market.
The sad part is that we aren’t likely to see a huge sudden crypto price boom like there was in December 2017. But still many other doors have opened, and the crypto market is simply taking another direction. In this article, we'll check out what experts say for Bitcoin 2019 predictions.
Bitcoin 2019 predictions
Recently, Bitcoin’s bullish price forecasts have been made quickly and frequently. First, it was just major Bitcoin investors that have always been optimistic about Bitcoin - Tim Draper, Mike Novogratz, and John McAfee. Now, some projecting technical analysis seems to have turned to bullish Bitcoin 2019 predictions too, which was based on various technical indicators that have been visible over the last twelve months.
Even though a lot of crypto traders are eager for the short-term price action of Bitcoin to fix their profits, the majority of the market are Bitcoin ‘hodlers’ and they are mainly in it for long-term growth. For almost half a year, the Bitcoin price has been trying to get over $4,000 handle. It did succeed in doing so a few times, but then made a quick retracement back under $4,000 mark. Now that last week Bitcoin’s rate did surpass the resistance level and has been over $4,000, and this bullish rally seems to be continuing.
The latest Bitcoin 2019 prediction came out from Michael Novogratz of crypto merchant bank Galaxy Digital who kept forecasting his opinions on Twitter. Novogratz predicted that Bitcoin has already hit the bottom and issued his latest bullish outlook for the Bitcoin price. He also explains that lots of underlying developments aren’t public knowledge, there is a handful of recent news pieces that show that institutional players are here.
He also quoted that:
“macro factors such as a rally in risk assets plus the US dollar no longer surging are tailwinds for BTC.”
Also, Thomas Lee has explained that the bitcoin price would hike to $10k to $20k if Bitcoin were to catch up to equities. In his latest tweet, he mentioned that the tailwinds that had dragged Bitcoin's price down during the current Crypto winter are easing.
Bitcoin's trading volume surpassing $11 billion
The most important thing experts have picked was, with the Bitcoin price managing to hold $4.042, according to coinmarketcap stats and jumped approximately 5% YTD. The thing to note about the recent price increase is higher trading volume, which surpassed $11 billion in recent days for the first time in nearly a year.
Few important scenarios for the crypto market in 2019
- The flow of institutional investors who will use blockchain infrastructure in their own interests.
- STOs to be replacing ICOs.
- Lower market volatility
- Stable coins are getting more attention.
- Central banks will be more interested in Bitcoin and other cryptocurrencies.
- Security will be a major concern.
- Safer storage becomes more available.
- Higher scalability.
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