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Bitcoin Grows Beyond $4,000

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Bitcoin grows beyond $4000
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Bitcoin (BTC) is starting to make waves again, and while they are still small, investors around the world are welcoming the positive development. The number one cryptocurrency has just breached the $4,000 mark, and while this is still five times lower price than it was in early January 2018, it is over $800 higher than in early December 2018.

At the time of writing, Bitcoin price is at $4,048.60, after the coin experienced a 5.53% growth in the last 24 hours. Meanwhile, its market cap sits just above $70.5 billion, while the coin’s daily trading volume is at $5.7 billion.

Bitcoin has had a rough 2018, just like the rest of the crypto market. In fact, the coin is so influential that it usually dictates the market behavior, whether positive or negative. Right now, the rest of the market follows the positive trend, with all of the top 10 cryptocurrencies currently trading in the green, while only a few among the top 100 coins are experiencing minor losses.

The largest gainers among the top 10 cryptos by market cap are Litecoin (LTC) with a 7.64% growth, and Stellar (XLM), which is growing by 7.27%.

Bitcoin’s behavior in the new year has mostly been positive, which is a trend that originally started on December 17th, 2018. After a month and a half of constant losses, which have brought the coin to the new lows in 2018 — the situation started to improve. The coin eventually climbed up to reach $4,200, before a price correction which has reduced its price to $3,780. After spending a short time on stabilizing and adjusting, BTC is now slowly growing once again.

This is not a bull run that experts were hoping for during the bearish months of 2018, but many believe that it could be a beginning of a stable growth which will mark 2019, and end up bringing institutional investors to the world of cryptocurrency.

In addition, many are expecting Bitcoin’s Lightning Network to go live, as well as Bitcoin ETF approval by the US SEC, and the launch of Bakkt exchange which is scheduled for the second half of January 2019. In other words, there is a lot of potential for BTC in the near future, and its price might get a significant boost if everything that is expected actually comes to pass.

In the meanwhile, analysts believe that Bitcoin’s price follows a specific cycle, which would replace the bearish market with a bullish one, if uninterrupted by a large negative event. Because of all of these reasons, many expect that 2019 will be a good year for BTC, and judging by its behavior during the year’s first week, the predictions might be correct.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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Bitcoin

4 Reasons Why the New Bitcoin Rally Is Unlikely to Stop Now

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After more than a year of declining prices, the crypto market is finally seeing a period of serious recovery — one that has already brought digital currencies to heights not seen in over half a year now.

Only days ago, Bitcoin surged past several major resistance levels and managed to exceed its yearly high of over $8,000. Already, many skeptics are predicting the soon end of the bull run, and the possibility of yet another sharp decline. However, there are signs that suggest otherwise — that this bull run is only getting started, and that it will not end anytime soon.

There are four reasons why this is the case, and they are as follows:

1) Bakkt

There is the long-awaited Bitcoin futures exchange, Bakkt, which recently announced that the July test date for Bitcoin futures is soon to be set. Bakkt’s launch was delayed multiple times already, so the announcement came as quite a surprise. However, it appears that it will happen quite soon, after all.

As soon as its arrival becomes a certainty, Bitcoin will likely skyrocket even further, just like gold did when gold ETF appeared in 2013.

2) Bitcoin completely ignored the hacking of Binance

Binance has been the largest crypto exchange by trading volume for a while now, and as such, many expected that, if anything were to happen to it, Bitcoin…

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