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Is it a Good Idea to Buy BTC After the Latest Market Crash?

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The crypto market is still vulnerable and subjected to slight price drops, despite the fact that the major crash is believed to be over. With the prices of numerous coins slowly going back up, investors are starting to wonder: is it safe to buy BTC these days?

Is the market crash over?

It has been 16 days since the latest market crash began. This was the second one in 2018 and has left a significant impact on the market, as well as investors’ confidence. The details of the crash are already well-known to everyone — Bitcoin Cash has had a hard fork on November 15, although due to a disagreement between two parties of its community, the prices started dropping, while the fork resulted in two separate coins and the following hash war.

The hash war brought even more damage to the Bitcoin ecosystem, and the entire market started losing value. As always, Bitcoin lost the most regarding the price and market cap. The coin has spent most of this year balancing at around $6,400. After the crash, however, it hit a new low of $3,700. While this is the lowest that BTC has been in 2018, it did not stay here for long. It soon started rising again, breaching the $4,000 per coin, and staying mostly above it.

So, it has been two weeks after the crash initially began, is BTC stable now? Well, not exactly. The coin is currently trying to stabilize, but also to return to its older price. This has led to big price shifts, where the value of Bitcoin, as well as other digital currencies, suddenly starts growing or dropping by a significant percentage. Yesterday, November 29, BTC experienced an 8% growth, only for it to start dropping again on November 30th, this time by over 3%. This situation is expected to continue at least for a while until Bitcoin can find a new bottom.

Is investing in Bitcoin a good idea now?

As always, answering this is not that simple, and it mostly depends on who you ask. There are a lot of respected names in the financial world that are pro-Bitcoin and are quite bullish on it. Tom Lee of Fundstrat Global Advisors, for example, previously believed that BTC will hit $25,000 per coin by the end of the year. He gave up on this prediction when the bear market continued, but he also predicted another price, stating that Bitcoin will end the year at $15,000.

He has yet to change this prediction, which means that he likely expects a bull run to start at some point in December.

John McAfee is also known for being bullish on Bitcoin, and he even came up with his own ways to predict its future. This has led to some astronomical predictions, such as Bitcoin reaching $500,000 per coin by 2020.

Billionaire Tim Draper also believes that the market will bounce back and that cryptos are far from being dead. Thanks to these predictions, a lot of people think that now is the time to invest, since Bitcoin is currently much cheaper than it was earlier this year. It is unlikely that its price will drop further at this point. This leaves only one direction for it to go — up.

Of course, nobody knows the future, and all of this is only speculation at this point. However, cryptocurrencies are known to move in cycles, which is something that experts and analysts are well aware of. If so many of them claim that BTC will soon start rising, it might be profitable to heed such advice.

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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 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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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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Bitcoin

The New Rally Has Arrived: Crypto Market Cap Goes up by $24 Billion Within a Day

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The crypto market’s recovery progresses further, and at a rapid pace, at that. Bitcoin has just surpassed the $8,000 mark, which is the first time its price has been that high since July of last year. In addition, the entire crypto market is making billions within hours.

Bitcoin (BTC) sees another serious surge

In the past 24 hours, the total crypto market cap has gone up by around $24 billion. Meanwhile, BTC price has grown by $1,000 within the same period, as the largest coin traded barely above $7,000 on early Monday. At the time of writing, the coin’s price sits at $8.014.31, with a 14% growth in the last 24 hours. Meanwhile, the BTC market cap has gone up to $141.85 billion, and even the coin’s trading volume surged to over $31 billion.

While many are wondering whether this is a return to the massive heights seen back in 2017 or only a temporary surge which will soon see a correction — no signs of an upcoming decline have been noticed as of yet. In fact, new heights were made and then exceeded multiple times in the past week, with a massive 33% gain during that time. And, with Bitcoin’s dominance at 60%, many are expecting that massive altcoin surges are to be expected as well.

The growth of altcoins can already be seen, as Bitcoin

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