In bitcoin news now and latest bitcoin price prediction 2019, a Chinese cryptocurrency expert and bitcoin billionaire has rejected the notion that a bitcoin bull run has started already noting that BTC price will remain stagnant until much later in the year.
Zhao Dong Makes Interesting Bitcoin Price Prediction 2019
Chinese billionaire and bitcoin leader Zhao Dong reportedly predicted that the long-awaited bullish cycle for Bitcoin price has not yet arrived, contrary to what many crypto analysts and enthusiasts believe
He gave his bitcoin price prediction on Thursday, April 12 via a post on social media platform Weibo, and was originally reported by Chinese cryptocurrency news website 8BTC. In its bitcoin news now, 8BTC reported that Zhao predicted the bitcoin bull run will start later this year.
BTC Price to Stay below $6,000 for Most of 2019
Zhao, who is long-time bitcoin bull, started his bitcoin price prediction 2019 by saying that bitcoin price now around $5,000 will remain between $4,000 and $6,000 for the most of the year before a proper bullish trend sets in later in the year.
This bitcoin prediction will raise a lot of interest in digital asset investors because of the trading range mentioned. On the one hand, trading above $4,000 is an indication that the crypto winter—the downtrend caused by the last bitcoin crash—must have ended. It means that bitcoin price must have bottomed at $3,100 levels it dropped to last December.
On the other hand, BTC price maintained below $6,000 indicates there is no massive breakout for the cryptocurrency. This is very critical because at $6,200 bitcoin price will have doubled the bottom of $3,100 and therefore confirm the end of its decline while announcing the start of a new bitcoin bull run.
Bitcoin Bull Run will start in October 2019
Zhao continued his bitcoin price prediction 2019 by saying that BTC price will experience a resurgence around October this year. He explained that after trading for some months within the $4,000 and $6,000 bracket, bitcoin price will break away and enter a new period of bitcoin surge.
He agreed with other analysts that bitcoin price will not enter new lows rather it will start the resurgence later this year.
Bitcoin Price will Surpass Previous All-Time High; $50,000 Likely
In a previous bitcoin price prediction 2019, Zhao had suggested that the next crypto bull run which will start in 2019 will take the bitcoin price far beyond $20,000 it reached in 2017. He spoke of a “crypto summer”—a boom period for cryptocurrency—which would be further helped by the halving of bitcoin block rewards and by extension bitcoin supply. With this he said BTC price could easily swell to $50,000.
The Next Best Time to Buy Bitcoin is now
A long-term supporter of bitcoin and cryptocurrency, Zhao advised that bitcoin price will see such highs that people will look back to 2019 as a turning point for bitcoin. He said the period will be both the best and worst time for investors and entrepreneurs.
Bitcoin (BTC) Price Today / USD
Despite the positive bitcoin price prediction 2019, the cryptocurrency market has retreated into a sea of red making downward corrections after the sudden market spike that occurred just after the April fool’s day.
1 BTC to USD is at $5,037 as at press time. The coin is about 4% down from yesterday as it struggles to stay above $5,000 mark. Altcoins, however, have not been that lucky some recording as much as a 10% decline in 24 hours.