Is Bitcoin dead, will Bitcoin recover, when will Bitcoin recover, when is the next Bitcoin bull run? These are some of the questions that members of the cryptocurrency community have been asking since Bitcoin reached it all-time high and started to fall in a 15-month long bear market. The cryptocurrency winter, as it was nicknamed has now come to an end and people are wondering when the new bullish cycle will start and how high the price of Bitcoin will go. Some well-known figures in the financial services space have given their own Bitcoin price prediction. This weekend, the Tim Draper Bitcoin price prediction of $4 million per Bitcoin was trending within the cryptocurrency space.
Bitcoin Price Prediction 2019: Will Bitcoin Recover To $150,000 By 2023? Bitcoin Bull Run – Bitcoin News Today
According to a new Bitcoin price prediction on NewsBtc, the price of Bitcoin, just like every other digital asset, has a cycle. Since its inception, Bitcoin has broken three cycles. Each broken cycle is used by analysts to predict the next. This is why as the most recent cycle is near its end, a well-known cryptocurrency analyst has predicted that Bitcoin is going to sell as high as $150,000 by the end of the next cycle in 2023.
The Bitcoin analyst, Josh Rager said that each cycle lasts for at least 574 days. This would place the next Bitcoin peak in the year 2023 and the price at $150,000. The first peak was $31, the second was $1,177, the third was $19,764 and the fourth will be $150,000. This is expected to happen in 2051 days from the last peak. According to the analyst, several factors will influence the next Bitcoin bull run. When the bulls take over Bitcoin, the entire cryptocurrency market will follow.
Bitcoin Price Prediction 2019: Factors That Will Influence The Next Bitcoin Bull Run – Bitcoin Halving
For starters, the upcoming Bitcoin halving is going to influence the next Bitcoin bull run. Historically, the price of BTC often increases ahead of a halving event when the block reward is divided into two. Reger isn’t the first person to suggest that the Bitcoin bull run is going to be ignited by the Bitcoin halving event. Many other Bitcoin price prediction have suggested the same thing. So, it should not be a surprise. The next Bitcoin halving is scheduled to take place in May 2020. This will reduce the block reward for all miners.
Bitcoin (BTC) Price Today – BTC / USD
Short-term, things are bullish. The price of Bitcoin has been relatively stable over the last few weeks. Even if it has hit bottom and the bear market has ended, the price still hasn’t been able to cross above the important $4,200 level to mark the end of the bear run. At the time of writing, BTC was trading at $4,140.88. This shows that it is up by 0.83% against the USD. The trading volume over a 24 hour period is $10,013,382,488 and the market capitalization is $72,964,440,026 per CoinMarketcap.com. If Bitcoin is able to hold the upward momentum for long, it will cross the $4,200 resistance this week.
What do you think about the Bitcoin news today? Is Bitcoin dead? Will Bitcoin recover? What is your personal Bitcoin price prediction 2019? Share your thoughts in the comment section.