Bitcoin (BTC) Bull Rally Resumes As Upward Momentum Above $4050 Strengthens in Today’s BTC Price Analysis

The cryptocurrency market has been enjoying a lot of positive sentiment lately. The BTC price analysis for the past few days has been positive against the USD. Altcoins are also doing well. The renewed interest in cryptocurrencies has made the Bitcoin price prediction 2019 more positive. The Bitcoin news by Joseph Young, a cryptocurrency price analyst on CCN.com noted that the pullback in the market yesterday may have happened to allow the price of BTC to gather momentum against the USD.

Bitcoin Price Prediction 2019: BTC Price Analysis

Two days ago, according to our BTC price analysis, the price of BTC went above the resistance at $4,000. This was a big deal as BTC has failed to cross this resistance for months now. It moved as high as $4,068 against the USD and eventually fell to the $4,000 region. Before the end of trading yesterday, however, the price started to recover against the USD moving as high as $4050 and is still going higher against the USD. At the time of writing, the Bitcoin live price was at $4,052.76. This means that it is up by 0.85% against the USD. The trading volume within a 24 hour is $8,374,006,210 and the market capitalization is $71,307,411,358.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,680.00
9.32%

Young noted the fact that minor pullbacks in the past have been followed by promising Bitcoin bull rallies. This is why traders were not surprised when the price took a dip. Bitcoin appears to have broken the tight range between $3,700 and $4,000 which it was stuck in for more than three months. Young also made reference to the price analysis of another expert, Satoshi, MBA, who had initially said that the cryptocurrency winter, which lasted for 15 months, is finally coming to an end. In Satoshi’s words:

“How can possibly not be bullish right when we’re at the bottom of this bear market. Accumulating as much BTC as I can here, to be honest. When bitcoin approaches its new all-time high again, I’ll be bearish.”

Keep in mind that the Bitcoin price analysis today isn’t the only positive one. Other cryptocurrencies are doing relatively well too. Litecoin and Ethereum are almost twice as high as they were after the bloody November Bitcoin Cash hard fork war. As the market corrected, LTC fell by 3% while ETH fell by 1%. Keep an eye out for the Litecoin price prediction 2019 as LTC is set for a major retrace after suffering a fall by over 170% since the start of the cryptocurrency winter.

Bitcoin Price Prediction 2019: Will The BTC Bull Run Continue?

We know that Bitcoin is rising against the USD. The question traders are currently concerned about is; will Bitcoin hold the momentum? Satoshi continued:

“Most coins have very bullish setups right now, virtually all of them sitting on annual support. When BTC moves sideways, liquidity will move into alts. Recently we’ve seen huge moves, 40%, 80%, even 150% overnight gains by some alternative cryptocurrencies.”

What the analyst is saying is that there is a high chance that a major bull rally is coming. This positive sentiment in the market is rather impressive considering the fact that Cboe recently delisted its Bitcoin futures contract. This shows maturity in the cryptocurrency market. It means that individual factors are losing their hold over the BTC price action. It also shows that the retail investors are powerful and we may not need to rely on institutional money after all.

What do you think about today’s BTC price analysis? In your opinion, will the price of BTC continue to rise against the USD along with other cryptocurrencies? Comment below.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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