Bitcoin Will Hit $100k And There Is Nothing Anyone Can Do About It, The Rise To $11 Is Just The Beginning

Bitcoin news today – Bitcoin has been on the fourth parabolic bull run since yesterday. The flagship cryptocurrency touched $10 for the first time since March 2018. Other cryptocurrencies have been trading in green as well but they can’t keep up with Bitcoin’s pace. This has been a cause for jubilation among the members of the cryptocurrency community and it has allowed Bitcoin price analysts to call for a surge to $100,000. How high with Bitcoin (BTC) go? Will the Bitcoin price prediction 2019 and beyond remain bullish or is this just a temporary hype that would cool off soon?

Bitcoin Price Prediction 2019 – Bitcoin Price Forecast – BTC Crosses $10, $100k Target Seems Possible

In our previous Bitcoin price analysis, we said that the price of the flagship cryptocurrency was preparing to rise above the $10k level noting that the next surge will see the price of BTC retest that level. This is exactly what happened yesterday morning. In fact, the price of Bitcoin BTC didn’t just cross the $10k level, it sold as high as $10,900 with a volume of $23 billion at the time. As the price of BTC approached the $11k level, the traders who took short-term positions started taking their profit and this led to a reduction in the bullish momentum but the bulls aren’t out of the market yet.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$10,050.24-3.15%

According to a Bitcoin price prediction on NewsBtc, there is a high chance that the flagship cryptocurrency will reach $100k. You’ll recall that in the beginning of the year, the Tom Lee Bitcoin price prediction placed the price of BTC around $100k after the cryptocurrency winter ended. Yesterday, as the price surged, Lee said that the increased exposure from mainstream media was contributing to a surge in the price of BTC. Another well known cryptocurrency trader with the handle CryptoFibonacci said that the technical the price surge will be followed by a pull back. In his words;

“Price is way way outside of the upper Bollinger Band. So be careful of a pullback inside of it here. A little sideways action and consolidation would be nice before the move to 11,500.”

It’s possible for the price of Bitcoin to correct lower after this bull run but this doesn’t mean that the bulls will be kicked out of the market. The pull back will be followed by another parabolic bull run and it will keep going until the price hits $100k eventually. This is in line with the Bitcoin price prediction of Peter Brandt. In his words;

“Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”

Bitcoin Price Prediction 2019 – Current Price Of Bitcoin – Bitcoin Price Forecast – Bitcoin News Today – Bitcoin Dominance Reaches 59%

As the price of Bitcoin surged and altcoins struggled to keep up, Bitcoin’s dominance in the market increased to 59%. Does this mean altcoins are dead? Not at all, a Bitcoin season is usually followed by an altcoin season when the price of altcoins gather the momentum required.

At the time of writing, the price of BTC was $11,113.70. This means that it is up by 13.06% against the USD with a trading volume of $26,744,935,464 and a market cap of $197,527,181,361. Near-term, BTC will test $12k if the bulls maintain their momentum in the market.

What do you think about the Bitcoin price prediction 2019 in our Bitcoin news today? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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