Bitcoin (BTC) Could Surge To $400k As Its Losing Streak Is Over – Analyst Naeem Aslam

Bullish Bitcoin price predictions have returned. Many people are researching the best cryptocurrency to invest 2019.  Is Bitcoin a good investment? Early last year, after Bitcoin (BTC) tested its all-time high, there were many bullish predictions for the coin. Many experts predicted that the digital currency would surpass its all-time high before the end of the year. The price action of Bitcoin in December 2017 brought out many bullish BTC enthusiasts from their shells. The likes of Tom Lee also came out, giving a Bitcoin price prediction of $40k before the end of the year.

However, after Bitcoin ended the year in a poor state, Bitcoin price predictions have reduced considerably. But the trend is about to start again, as many believe that the BTC bear market has hit bottom. There are now several BTC bullish price predictions 2019.

Bitcoin (BTC) Could Hit $400k As the Crypto Market Has Hit Bottom, Says Naeem Aslam

Recently, Naeem Aslam – chief market analyst – said that the fifteen-month bear market is coming to an end. He also said that the first wave of a BTC bull market is already on the way. Aslam pointed out that the digital currency just broke its longest run of monthly losses. He said that is a strong indication that the temperature of the market is surging higher and that Crypto Winter is starting to liquify.

The crypto analyst further added that the price of BTC had crossed its 200-week MA (moving average). At the moment, the digital currency is approaching its 50-week moving average. He said that if Bitcoin breaks over this level, it would be an indisputable sign that the bulls are in charge of the market. However, he said it might take the digital currency a couple of months to get there.

A Break Over the 50-Week Moving Average Will Trigger the Bulls

Bitcoin (BTC) is currently showing signs of a massive bull run. The digital currency has been hovering around the $4k level for quite some time. While it is not plunging lower, it is also not recording massive gains over the $4k level. However, many analysts believe that the digital currency is getting ready for a massive bull run. Tom Lee Bitcoin price prediction 2019 is $10k, and many believe the digital currency could test this level before the end of this year.

Bitcoin (BTC) might start its massive bull run immediately it breaks over the 50-week moving average. In a statement, Aslam said:

Once Bitcoin breaks over the 50-week moving average, all bets would be in favor of the bulls. A break over the 50-week moving average would send the strongest bull signal, and it has worked well so far. But this is something that would not happen immediately. It might take a few months for this to happen.”

Best cryptocurrency to invest 2019

Will Bitcoin recover? Yes, I am strongly convinced, he said. Aslam also gave his future price prediction for Bitcoin (BTC). The analyst said that the value of Bitcoin (BTC) could surge as high as $400,000. This would be an increase of almost 10,000% from its present value.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,545.00
-0.94%

At the time of writing, Bitcoin (BTC) is changing hands at $4,082 after an increase of about one percent over the past twenty-four hours. The current market cap of the digital currency is $70.23 billion. The trade volume of BTC over the past twenty-four hours is $6.02 billion.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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