2018 has ended, and while there was no enormous surge that investors were hoping for, it still ended with a bit of hope for those wishing to see Bitcoin BTC rise.
Only two weeks before the end of 2018, BTC was in a desperate position, with the value of its coin being at $3,200, threating to drop even lower. However, a sudden surge occurred on December 17th, which returned $1,000 to its value. And, since it lost approximately $400 since then, the final days of 2018 have still seen BTC well-above its lowest point of that year.
Now, 2019 has arrived, with traders and investors wondering what will happen next? Is BTC going to drop to $2,000? Will it rise back to $5,000? Will the bear market expand to this year as well, or is the market ready for a proper bull run this time?
The answer, once again, remains uncertain. The problems with scalability may be reduced significantly soon, but high volatility remains an issue. Even the slightest shift can have enormous consequences for the entire market, and any news can impact the BTC price, no matter how big or small, or if positive or negative. To stop its further drop, BTC had to find a balance. However, this balance is more fragile than ever, and the price is expected to move very soon.
What to expect from BTC in 2019?
In the next few weeks, many are expecting to hear an update regarding the launch of Bakkt exchange. Whether it will go live in late January, as scheduled, or get postponed again, is currently unknown. However, any of the two can impact Bitcoin significantly, in one way or another. The last days of February are also expected to bring the US SEC decision regarding Bitcoin ETFs. Their potential approval will bring considerable cash flow to the crypto space, and with it, BTC price would likely grow.
Another thing that might increase BTC price includes the completion of Lightning network, which is expected by many to arrive in 2019. However, while there are only a few huge things that might impact the price for the better, pretty much anything can negatively affect the price. This really does include pretty much anything, from a hacking attack to regulatory issues, closing down a significant exchange, or whale movements, and anything in between.
Some investors in late 2018 explained that Bitcoin is moving predictably and that it drops and grows stronger each time. After a surge that brought it to $20,000 per coin, a significant drop was following, only to be replaced by an even larger rush. This is why many of them predicted that BTC might drop to below $3,000 before rising to well above $20,000.
At the time of writing, the coin’s price is at $3,827, with a 2.07% growth in the last 24 hours. In other words, the act of crossing into a new year did not do much to impact the coin’s price, as investors remain uncertain regarding what to expect from it in the future.
Some of them are dedicated HODLers and are using this opportunity to buy as much BTC as they can before another bull run starts. However, it is also noteworthy that there is no indication that such an event is on the horizon. In conclusion, even though the year has started on a positive note, with almost all coins trading in the green, there is still no any serious price movement, and everyone is holding their breath, waiting for something to happen and foreshadow the behavior of the market in the new year.
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of Pexels
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…