Best Time To Accumulate Bitcoin or Just Another Hype? Analyst Suggest That This The Best Time To Buy Bitcoin

In the Bitcoin news today, The momentum of cryptocurrencies remains difficult to understand as another day goes by in the crypto sphere. Number one crypto, Bitcoin and other top cryptocurrencies have been experiencing a slight increase in prices. Although most of the cryptos are still tied to a particular range as the consolidation continues. According to crypto analysts, now is the perfect time to accumulate.

Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Prediction – BTC Price Back Over The 200 Hour Moving Average

Bitcoin has finally crossed the 200 moving average on the hourly chart. This is the first time the coin will achieve this over the last seven days. Even though the move is not entirely bullish, it is, however, the highest Bitcoin has managed to attain, on such a short time frame. According to Tradingview, the number one crypto climbed at a four-day high during the morning trading — reaching $9,830. That trading value saw Bitcoin attain a 3% gain on the day. The coin also touched the 50 Moving Average on the four-hour chart.

Bitcoin (BTC) Price Today – BTC / USD [ccpw id=”8759″]

This has provided a strong resistance many times in the past week, therefore, a break above that mark could see Bitcoin trading in five figures again before the end of the week. A major drop in volatility, as well as a continued consolidation, were observed on the daily chart for the coin. Analysts and traders in the crypto market usually see these periods of little activities as the best time to accumulate before the next big move takes place. John Rager, a popular crypto analyst had this to say:

“With a lack of major volatility, things quiet down. Reminds me when we were under $4k (not near as quiet) but these are the times where I set targets on Bitcoin & maybe a few alts. Months from now people will wish they would have taken more action during the slow price movement” (Source: Bitcoinist.com). He has been setting targets on Bitcoin and a few altcoins when market situations are in this state.

Crypto analysts also said the same thing when Bitcoin fell below $4,000 during the first quarter of the year before going up in April. Albeit they were a tad bit skeptical back then with majority of them predicting a freefall of the coin to the $2,000 price range and below. It is not advisable to try catching the bottom as very few experts in the crypto market can successfully do that. A lot of traders are waiting on the sidelines hoping for a drop in the coin value to about $8,000 before buying the coin. But then, that may not even happen.

Bitcoin Latest Update –Will Bitcoin Hit The Five figure Mark Before The Week Ends? –Bitcoin Price Prediction

In Bitcoin price prediction, asset manager, Travis Kling, in his recent tweeted declared that the FED will cut the interest rate of the coin by a quarter percent in the United States. This is a sign that the Dollar is growing weaker and the economy is getting slower. However, it is great news for the number one cryptocurrency. In his tweet, he stated, “Tomorrow, Bitcoin will experience the first Fed rate cut in its history”. This new development points towards a big move for the price of Bitcoin before the end of the week. Meanwhile, the consolidation continues at the moment. We can only keep our fingers crossed in anticipation of Bitcoin hitting the five-figure mark again before the week runs out.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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