Alistair Milne, the chief investment officer at an industry investment firm said in a tweet yesterday, that he has observed a positive trend among experienced cryptocurrency traders.
“Pretty much every OG Bitcoin trader that he respects is now leaning bullish.”
“OG Bitcoin Traders” as used by cryptocurrency fans refer to experienced, hardcore bitcoin traders. OG is a slang which means exceptional, authentic or old-school.
The bitcoin price prediction 2019 has taken a strange but pleasant turn in the last couple of days. The bitcoin bulls are not just having the day; it seems every notable figure in the cryptosphere is vocal about an imminent upturn in bitcoin (BTC) price. But Milne is not the only person who thinks bullish about BTC.
The founder of TechCrunch, Michael Arlington, is another bullish. He reportedly reiterated his position about the cryptocurrency market. He said;
“[I have] never been more bullish on cryptocurrencies than right now,”
Everyone is Bullish
Yet another popular crypto trader cum analyst The Crypto Dog wrote,
“”Literally everyone is bullish. Like everyone. Not in the usual ‘haha everyone’s bullish let’s short’ way. Everyone is bullish.”
It seems these bitcoin analysts know something that makes them so certain that bitcoin price is heading up very soon. While it is not very clear what has made everyone bullish about bitcoin all of a sudden, outlined here are a few pointers to help you better understand why bitcoin price is set to skyrocket soon.
Investments in Cryptocurrency
According to AsiaCryptoToday, Arlington who is a huge fan of Ripple XRP token, is impressed by the major investments going into the cryptocurrency industry. Huge investments like this show confidence in the future of cryptocurrency which is a key factor for long-term and short-term cryptocurrency price movements.
Furthermore, trust in the future of bitcoin despite the well-documented crash counters the key stronghold of bitcoin critics who claim it will not last long after the bubble pops. Cryptocurrency peculations about big firms like Facebook, Starbucks, and Rakuten also helps.
Bitcoin Tests Key Resistance at $4,200 – Bitcoin Technical Analysis
If BTC stays above $4,200 there is a common believe among traders that it will go on to $5,000 and beyond. Last week BTC reached a high of $4,290 on some exchanges but could not sustain the place above $4,200.
Several Positive Fundamental Analysis of Bitcoin (BTC) – Why did Bitcoin Go Up Today?
The fundamental analysis of BTC price throws up many reasons to have an optimistic bitcoin price prediction 2019. A notable supporter of bitcoin Brendan Bernstein predicted a bitcoin bull ride citing the following factors:
- The long-term potential of BTC
- Rising level of Quantitative Easing (QE)
- Increasing Modern Monetary Theory (MMT)
He tipped BTC to soon become a safe haven and hence a boom period.
New Bitcoin Bull Target at Over $5K
After today’s breakout, Bitcoin (BTC) now needs to move above crucial resistance near $5,200 to solidify the case for a longer-term bull market.
The world’s largest cryptocurrency by market capitalization crossed the last bearish lower high of $4,236 (Dec. 24 high) at 04:30 UTC Tuesday and jumped to $5,080 – the highest level since Nov. 19 – confirming a transition from a bear to a bull market.
Other major cryptocurrencies like Ethereum’s ETH token, XRP and EOS are up at least 5 percent each. Meanwhile, names like Litecoin, Cardano and Monero are flashing double-digit gains. Source: coindesk
Bitcoin Price Today – BTC to USD
At the time of writing BTC to USD is at $4,132. BTC price is 1% better than it traded than at this time yesterday.
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