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Is Bitcoin Price About to Enter a Bull Run? - Global Coin Report
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Bitcoin

Is Bitcoin Price About to Enter a Bull Run?

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The price of Bitcoin seems to be on the rise once more, and while the rise that the coin has been seeing in the past two months has been gradual and rather hesitant — it still proves that the largest crypto is slowly dragging the space out of the bear market. The bearish 2018 left a large mark on Bitcoin price, and the crypto winter still has a minor influence, but the main reason why the coin’s value remains low now might be the lack of large cash flow.

Even so, Bitcoin has seen some significant recovery recently. After reaching the lowest point in 2019 at the price of $3,400 on February 7th, BTC managed to steadily grow by over 13%. Immediately after the coin reached this low point, a series of bull runs started bringing it up, past several resistance levels.

The largest ones were at $3,600 and $4,000, but the coin currently remains above both, with its price at the time of writing being at $4,057. Further, BTC managed to remain above the $4,000 mark for nearly two weeks, not counting one minor drop that occurred on March 25th, and which was corrected in less than two days.

But, will Bitcoin experience a true bull run, like the one in 2017? Well, probably not. 2017 was the year of hype when cryptocurrencies emerged from the shadows of the dark web and shady usage. They presented themselves to the world and demonstrated the alternative to traditional banking. This attracted thousands of investors, and such a massive jump in demand caused the bull run which suffered a year-long correction which we now know as the crypto winter of 2018.

However, the hype is over, and the digital coins are now well known around the world. Such a massive surge will likely never come again, but it is possible that we might soon see one that can easily claim the second place in terms of size.

Bitcoin will definitely see a new bull run

Many were bullish about Bitcoin in 2019, and not only regular crypto enthusiasts. Even billionaires such as Mike Novogratz, Changpeng Zhao, and many others expect to see a growth of Bitcoin price soon. Institutional investors are finally making moves towards the crypto industry. They may be slow and hesitant, but they are moving, which is a huge step in the right direction.

Banks like JP Morgan, and even massive social networks like Facebook, are supposedly creating their own coins. While these will likely not be the real cryptos, they will reach millions, or even billions of people, and introduce them to cryptocurrencies. Once the interest spikes, people around the world will start researching crypto deeper, and they will notice that these coins are not good. However, they will also realize that they can just switch to BTC as a much better alternative.

Meanwhile, Bitcoin will likely get its Lightning Network, which will significantly improve its speed, cost, and scalability, and it will be able to serve a massive wave of new users. And, as the coin’s capacity is capped, the existing coins will have no choice but to surge in price as soon as the demand skyrockets.

With increased demand and acceptance, Bitcoin will also receive new use cases, as merchants around the world will start accepting the coin in their desire to be innovative and remain relevant, which will drive the adoption further.

In other words, yes, a large bull run does lie in Bitcoin’s future. The only requirement is time, but time is also needed for the coin to recover from the price decline which it suffered in 2018. This massive bull run might not arrive in 2019, but it is coming, and 2019 will be the year of recovery and growth, where Bitcoin will prepare itself for the mass adoption which is to come in the next several years.

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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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Bitcoin

Why Bitcoin (BTC) Revival is Likely to Continue

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The cryptocurrency market has been doing rather well in 2019 — certainly much better than in 2018. More than a year ago, the market crashed from its all-time high, and in the months that followed, it lost over 80% of its market cap. Bitcoin (BTC), as the leading digital currency, also dropped from $20,000 per coin to barely $3,200 in 2018.

These days, however, the situation seems to be turning, with digital currencies seeing significant growth in prices ever since mid-February. While January stopped the drops, February is the month when the market once again started seeing gains, and this kind of behavior has continued to this day. But, what does this mean for the future? Is this a passing trend, or is the crypto winter truly over?

The revival of Bitcoin

Questions such as the short-term future of Bitcoin are on many traders’ and investors’ minds right now and have been ever since the prices started growing again. A well-known Futures Now trader, Jim Iuorio, recently stated that Bitcoin would start seeing massive profits if it surpasses the price of $4,045. That was, of course, before the coin surged by around $1000 in the last week.

However, Iuorio’s prediction was that BTC is unlikely to go below $3,820, while the growth beyond $4,045 would mean massive gains for those involved with the industry. Soon after this prediction…

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How to Become a Millionaire without Risking Everything with Bitcoin

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It’s been well over a year since the crypto market reached its peak and then crashed, dropping to such lows that most of the coins lost anywhere between 80% and 95% of their value. A few of them lost even more. Of course, this was not enough to eradicate the crypto market, and the bulls are still as optimistic as ever, especially these days, when Bitcoin price surges again, taking the rest of the market with it.

Some predictions claim that Bitcoin will reach its own glory days within a year or two, and there are even speculations that the largest cryptocurrency might spike up to $100,000 per coin. One claim from last week even sees BTC hitting $400,000, as the highest price which someone was brave enough to predict.

While it is certainly possible — at this point, pretty much anything is — not everyone is willing to take such a gamble and invest their hard-earned money into a risky asset such as digital currencies. With that in mind, here are three alternatives that are considerably safer than Bitcoin and the altcoins.

1. Investing and re-investing in stocks

A lot of people — especially younger generations — find stocks to be incredibly boring. Most of the time, all you do is invest, and use the returns for re-investing in high-yielding shares. However, while boring will not…

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The Best Time to Buy Bitcoin (BTC) Approaches

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Ever since 2019 started, the bear market of 2018 has been losing momentum, with the bulls emerging numerous times in short intervals. This was the beginning of a crypto recovery, which still has quite a long way to go.

However, last week, Bitcoin saw massive growth in transactions, reaching a 14-month high. These were the levels that were previously seen back in 2017, as BTC approached its highest point in terms of price. The growth also reflected strongly on BTC price, which spiked yesterday from around $4.100 to the current $4,672.

Meanwhile, Bitcoin market cap followed as well, currently sitting above $82.3 billion, while the trading volume exceeded $14.5 billion.

What caused the growth?

While this is an exceptional growth, and potentially a start of the bull run that everyone was waiting for, it did not come without a cause. One of the reasons why BTC surged was last week’s Weiss Ratings report of multiple different cryptocurrencies. The report’s authors even stated themselves that the best time to invest might be very near at this point.

Weiss Ratings has done reports about specific coins in the past as well, and this time, they noticed a significant improvement in coins’ performance. The report mentions growth in user transaction volume, network capacity, as well as network security, which the authors took as an improvement coming from the evolution of the…

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