Bitcoin News: Bitcoin (BTC) Trying to Break $4,000 Resistance for A New Bull Rally

bitcoin price chart

Everybody is looking forward to seeing a new bull rally in the cryptocurrency market and this depends on Bitcoin. On Monday afternoon, BTC was up by 0.22% trading at $3,839. This was 1.5% lower than the levels in Sunday afternoon and 2.7% lower from Sunday’s high of $3,950. Different cryptocurrency experts are giving their unique Bitcoin price prediction 2019. eToro’s Mati Greenspan said that the live price action of Bitcoin is an indication that the cryptocurrency winter may be coming to an end. In his words:

“With bitcoin lagging behind while other cryptos surge, the feeling is that the crypto winter is coming to a close and it is now alt season,”

At this time, the altcoins are outperforming Bitcoin. This is something that happens when the entire market is bracing up for a bull run. This happened just before the 2917 bull run. Also, when the sell-off was about to start at the beginning of 2018, altcoins started underperforming. Greenspan continued:

“Of course, there’s no telling how long this could last but the signs are all in place. Global volume across crypto exchanges is holding steady at around $30 billion per day, yet bitcoin’s volume is less than a third of that figure,”

Bitcoin Price Prediction 2019: What Does The Bitcoin Live Price Action Mean For The Market?

On the 15th of December, Bitcoin fell as low as $3,150. Many analysts said that the cryptocurrency reached a bottom at this point. However, it is important to note that not many people agree with this theory. There are those who believe that Bitcoin will fall lower against the and hit a bottom when it gets to the $1890 level or thereabout. This would be followed by a surge in prices that will drive the price of all cryptocurrencies up against the USD. Bitcoins market share has fallen from 55.2% to 51.7%.

Bitcoin (BTC) Price Today – BTC / USD

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Keep in mind that even if Bitcoin has been unable to cross the $4,000 resistance level, it is up significantly from the alleged bottom. On Monday, the price of altcoins fell against the USD. XRP fell by 0.07%. However, ETH fell by 2.3% against the USD. LTC fell by 3.2% and BCH fell by 2.9%

The Bitcoin futures contracts were also affected by the downward price action. Cobe Global Markets which is currently up by 0.52%, was down by 1.2% on Monday. CME Group was down by 1.3%.

At the time of writing, the Bitcoin (BTC) live price was $3,906.68. This means that it is down by 0.60% against the USD. The trading volume over a 24 hour period is $9,770,927,021 and the market capitalization is $68,695,085,587. It’s still not clear if the price of BTC will be able to break the resistance at $4000 before our next Bitcoin price prediction 2019.

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Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


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