Each time you look for Bitcoin News, you know doubt, would want to see some information about the BTC price today. Well, you’re not alone in this case because the search terms; how much is one Bitcoin, Bitcoin price prediction 2019, when will Bitcoin have a bull run, and many other related terms are the most common on search engines. This isn’t a surprise as investors are eager to know when the best time to start accumulating Bitcoin is. Before you rush into buying Bitcoins, you should read this Bitcoin price prediction 2019 by experts in the industry.
Bitcoin Price Prediction 2019: Will Bitcoin Recover?
The transactional volume of Bitcoin has been high since January. Even if the live price of Bitcoin hasn’t been anything near its all-time high, there has been relative stability within this period. Between December 16th and this month, BTC has managed to rise from its 2018 low of $3,122 above $4,000. Unfortunately, BTC price was unable to hold the $4,000 level for long. It fell below this important resistance and has been unable to find its way above it again.
Bitcoin (BTC) Price Today – BTC / USD
Bitcoin is poised for a great bull run later in the year. This Bitcoin bull run will drive the price of all cryptocurrencies up significantly and may even correct the damage done during the cryptocurrency winter according to recent Bitcoin price prediction 2019. However, a well-known cryptocurrency analyst, Bleeding Crypto, has predicted a new Bitcoin bottom at $1,850. During an interview with CCN about Bitcoin, the analyst expressed his professional opinion on the price of Bitcoin.
Bleeding Crypto was answering one of the most important questions in the cryptocurrency community; will Bitcoin recover? The analyst said that the inability for the flagship cryptocurrency to break out of the resistance at $4,000 and even $4,200, means the bullish momentum isn’t strong enough. He said that there is a strong possibility that the price of BTC will fall as low as $1850 if it is unable to hold its ground in the $2,400 and $3,100 range. In his words:
“I believe so because if you look at the chart on May of 2017 we maintained support at $2,450 region for months before we dipped to $1,850 and that marked the end of the BCH fork bearish trend. We shot up from there and we never came back and really re-tested that area $2,450.
So I believe like with most significant area of support, a test back is probably as price action tends to repeat itself. So a test back of $2,450 does not seem irrational.”
If the analyst’s Bitcoin price prediction 2019 comes to pass, the entire market will suffer. Bitcoin will fall and drag the cryptocurrency market down with it. The good news is that it will rise again like a phoenix for a bull run that may outperform the 2017/2018 bull run. The best time to buy Bitcoin would be when the price hits a bottom. The lower the price is when you buy, the more you’ll gain when it rises.
What do you think? Is the Bitcoin price prediction 2019 of Bleeding Crypto accurate? Comment below.