Bitcoin News Now – yesterday we reported bitcoin news prediction that BTC price was on course to reach an all-time high this year after impressive performances the days before. That may well still be the case, but first, BTC has to overcome a rather unexpected dip reminiscent of the crypto winter season. Latest BTC news has it that bitcoin (BTC) lost close to $2,000 from its value in only a quarter of an hour yesterday bringing the primary cryptocurrency to under $12,000 once again. In today’s Bitcoin News Now, we analyze the bitcoin price drop, its impact on bitcoin price prediction 2019 and the cryptocurrency market in general.
Bitcoin Price Today – BTC Price Analysis – BTC News Now
At the time of writing, Bitcoin (BTC) is trading at USD 11,980.23 according to data from CoinMarketCap, and this is about 5 percent less than it sold yesterday. After reaching a high of just under $14,000 yesterday, BTC price slumped, reaching a trough of $11,500 and along with it hopes of a quick race to $20,000 all-time high. The daily trading volume is about $44 billion, which more than double it could manage two days ago.
Ethereum ETH, Ripple XRP, and EOS Price Analysis – Altcoin Price Today
As expected, the drop in BTC price affected other major cryptocurrencies; a lot of the top 20 category coins lost double-digit percentages. Ethereum, the second most valuable coin by market capitalization lost 7.8 percent in 24 hours to trade at $311 to the USD at the time of writing. It has a healthy 24-hour trading volume of $15.9 billion, which is about half its total market cap. ETH still maintains a 17 percent gain in the last seven days.
Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), EOS (EOS) among others lost more than 10 percent in the last 24 hours. Whereas BCH posts a net weekly gain of around 5 percent, Litecoin suffers a 10 percent weekly loss as it trades for $119.4 according to CoinMarketCap data.
Bitcoin Dominance is still high at 62.8 percent of the entire cryptocurrency market capitalization.
Bitcoin Price Prediction 2019 – BTC Price Forecast Today
The sudden bitcoin price drop, which undoubtedly worries bitcoin digital asset investors didn’t unnerve cryptocurrency optimists and analysts. This is because, impressive price gains, like those in the last week, is often followed by price corrections. Looking at the bigger future and mid-term outlook, BTC is expected to fulfil BTC price prediction of at least $20,000 by year-end.
Although 5 percent is much to lose in an hour (or a day), BTC price is still in a good position given that it has gained close to 30 percent in the last seven days. The hourly analysis shows that the worse may be over as BTC is notching up gains by the hour. The BTC price dip may well be a misstep in an ultimately decisive bitcoin bull run.
Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.