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Is Bitcoin Spiraling Down to a New Bottom?

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Bitcoin (BTC) appears to be in yet another free fall, with no indication when or where it will stop, and investors are wondering if the coin is going to breach its recently identified bottom once again.

Bitcoin behavior in 2018

Bitcoin has had an eventful 2018, with countless ups and downs in the last 12 months. As many are aware of at this point, the BTC started this year with an all-time high, when it reached $20,000 per coin. The situation quickly took a turn for the worse, and in mid-January 2018, the market crashed. As a result, BTC started losing value, and over the following months, it lost over 30%.

The free fall stopped at around $6,300, which is where the coin managed to stabilize for several months. At this point, it often had small surges which provided investors with hope that the coin has reached a bottom. Many believed that it will stop dropping and that it can only go up from this price. Then, in November 2018, the market crashed yet again, and BTC breached its bottom.

It continued its downward spiral until it reached $3,200, which experts identified as the new bottom. Once again, investors were hoping that this will be the end of Bitcoin’s value loss and that the market will switch from bearish to bullish. That also seemingly happened on December 17th, and for an entire week, Bitcoin was growing once again, until the surge increased its value by around $1,000.

As many predicted, this was still not the end, and the coin is now rapidly losing value for the third time this year. At the time of writing, the BTC value is at $3,661.49, after experiencing a drop of 3.5% in the last 24 hours.

What will happen next?

It is unclear where the coin will go from here, and while investors are hoping that its bottom might still lie at around $3,200, some analysts are leaving open the possibility that this bottom is not the real one, and that BTC will soon breach it.

It appears that Bitcoin’s downward spiral once again affected the entire market, and almost all cryptos within the top 100 are currently trading in the red. The situation is pretty much the same when it comes to the ten largest coins by market cap, with only Tether (USDT) experiencing slight gains. Bitcoin’s market cap ($63.88 billion) currently still dominates the crypto space, with the coin owning more than half of the total market cap ($120.5 billion).

Since the second market crash occurred, the crypto community searched for Bitcoin price predictions in their attempts to understand what is going on, and what might be the best course of action. Some analysts proposed that Bitcoin’s value has yet to reach its real bottom and that it is likely that the coin will drop below $3,000.

In the meanwhile, it appears that bears have returned to the market for one last time in 2018. With only a few days of this year remaining, this will likely be the last drop that Bitcoin is experiencing. The community is expecting that 2019 will be the year when the situation will turn around, with crypto thriving in prosperous conditions once again. While this is not impossible, many experts believe it is unlikely that it will occur on January 1st.

It will take a lot of change for the market to break free from the bearish grip, and large projects such as the Bakkt exchange launch might start this process. Of course, no one can predict the future, and analysts can only rely on behavioral patterns through which Bitcoin has gone through so far. Even so, there is a lot of potential in 2019, and it is entirely possible that the new era of crypto prosperity might start at some point.

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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

Trusted Crypto Tumbler To Protect Your Wealth

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Back when Bitcoin originally emerged, over 11 years ago at this point, cryptocurrency transactions were believed to be fully anonymous. This belief stuck around for years to come, but today, we know that, in most cases — this is no longer the truth.

Since the invention of blockchain explorers, it became possible to track every Bitcoin transaction, all the way back to the genesis block. This came as a part of blockchain transparency which promises to eliminate corruption, theft, and other such issues.

However, there is still a need for a certain level of privacy, as people like to keep their wealth to themselves, and not let everyone know how much money they have, or how much they sent for whatever purpose. This is why many are now using crypto tumblers, or mixers.

What do crypto mixers do?

As the name suggests, crypto mixers/tumblers mix up the coins in order to hide/disguise/make it difficult to discover where the coins came from. Things like the amounts, transactions, and wallet addresses to and from which the coins travel are fully traceable, which is why tumblers exist.

In a way, you could say that mixers can add an extra layer of privacy while using Bitcoin, Ethereum, Litecoin, and many other cryptocurrencies. There are many Bitcoin mixers Continue Reading

Bitcoin

5 Best Places to Bet with Bitcoin

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It seems like BTC is always making headlines for one reason or another.

When the market points towards bullish behavior Bitcoin is all the rage. When there is so much long action (going on right now) and then the price plummets, BTC also dominates the headlines. The same goes for legislation and when any new crypto product or platform comes out. It’s always compared against BTC.

So with BTC fever in full swing, sportsbooks around the world have adopted digital currencies as one of their main forms of funding accounts and paying out winnings. And with sports betting legalized in states across the USA, both BTC and legal online gambling are in the limelight. 

But where are the best places to bet using BTC and other cryptos? Furthermore, why would you want to use BTC, LTC, or Ethereum in this manner?

The Why

The principal reason why you would want to use cryptocurrencies in your ‘sports investing’ ventures is speed, cost, security, and bonuses.

When you use cryptos like BTC (BTX) to move money in and out of your account. You bypass the standard centralized banking system which drastically improves on both the speed of the transaction and the cost of the transaction – this is especially true with payouts. 

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Bitplaza Inc Introducing Cryptocurrency to Retail

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Even though influential companies are not ready to validate cryptocurrencies as a stable form of money, Bitcoin is becoming a more frequently used currency daily. There is a rising number of companies that accept Bitcoin for the purchase of their products, validating it as a spendable currency around the globe.

Bitplaza Inc took the next step into technology and commerce, providing customers with a platform where they can spend Bitcoins for their needs through a mobile device. It opens the opportunity for companies and brands to list their products in exchange for Bitcoin, which will give more credibility to the coin.

What is Bitplaza?

Bitplaza is a shopping app that belongs to a retail company called Bitplaza Inc, located in Pennsylvania. The app is available on both Google Play and the Apple App Store. Bitplaza allows anyone globally to purchase brand new items with Bitcoin. The app has a wide variety of products to buy online, from electronic devices, video games, even groceries. The products that can be purchased from the app range from popular brands such as Sony, Starbucks, Adidas, Apple, and many more. The Bitplaza team is always adding new products to the shopping app, making more items available to be purchased with Bitcoin. The app covers a broad range of products for the different needs of the…

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