The price of bitcoin and that of most altcoins has been falling throughout 2018 with small momentary recoveries. After the incredible growth of cryptocurrencies in 2017, it was a surprise that the crypto scenario changed in such a way. The price of Bitcoin came to close to $ 20,000 and this year it almost fell below $ 3,000.
The Rise of Bitcoin Predictions
This week, specifically on Sunday, 6th of January, the price of bitcoin increased by 7.7% against the US dollar. In recent days several bullish predictions about the price of bitcoin and some other cryptocurrencies had been heard.
The maximum price reached by bitcoin yesterday was $ 4,093.30 according to coinmarketcap.com. Subsequently, the price suffered some corrections that did not leave the $ 4,000. And until the time of publication, its price remains above 4,000, exactly at $ 4,035.27.
Bullish predictions for 2019
Bitcoin has taken a while to reach $ 4,000 again. It had been battling since December 28, but due to various market circumstances it had not succeeded. Today, finally, Bitcoin broke the barrier of 4,000, coming close to the two-week maximum of 4,244 dollars.
Among the bullish predictions for 2019 is that of Weiss Ratings, a financial rating agency based in Florida. Weiss Ratings has predicted that by 2019 more people will start using bitcoin as a value storage asset. The company explained that storing bitcoin, unlike storing gold, is not expensive, and in addition, can be transferred easily and verifiably, is safe and is not controlled by any government.
“No other asset provides that combination of properties,” Weiss said. “And, consequently, no other asset can currently compete with bitcoin as a store of value. Result: Bitcoin is on its way to becoming a true digital gold.”
Fred Wilson, a leading venture capitalist and co-founder of the world-famous Union Square Ventures, recently shared his thoughts on the future of Bitcoin and the market outlook for 2019.
After analyzing the current market he concluded that the market was about to reach its lowest point and that it was going to start a bullish period as “the result of some of the many promises made in 2017”. However, it did not give a specific date because cryptocurrencies are subject to great volatility. What he did make clear is that this will happen in 2019.
What to expect from this increase?
Now, the question that many must be asking is: Has this bullish epoch begun? Will Bitcoin break its record high reached in December 2017?
If we are guided by the predictions of the many crypto investors who bet blindly on Bitcoin, maybe, this is the moment. However, it may be another failed attempt to return to the $ 20,000.
Whatever the path bitcoin and altcoins are taking, remember that you should not invest more than you can afford to lose. And, that these large investors can not ensure the path that the price of digital assets will really take, this depends on many factors. Therefore, these opinions should not be taken as investment advice.
Before investing any amount in an active crypto find out and research from several sources, to have several points of view.
What is your opinion about this latest bullish movement? Is a new bullish epoch starting? Leave your opinion in the comments.