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Here Is How Bitcoin (BTC) Will Recover

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Recent comments by Ran Neu Ner, founder of OnChain Capital, and host of Cryptotrader on CNBC Africa indicate that we could be headed to Bitcoin (BTC) levels that will be as low as $5,900. Neu Ner was quoted as saying that the problem is not with the recent hacks on Coinrail or the investigations on 4 popular exchanges by US Authorities. He believes that there is simply no demand for Bitcoin right now. Of course, he is just one opinion while other experts have different takes.

Neu Ner would also comment that the current levels of Bitcoin will not matter if the digital asset will be valued at 20 to 80 thousand dollars in a few years. The ones worried about the current value of the King of Crypto are the day traders and those who specialize in scalping.

Scalping is a trading style specializing in taking profits on small price changes, generally soon after a trade has been entered and has become profitable. It requires a trader to have a strict exit strategy because one large loss could eliminate the many small gains the trader has worked to obtain.

Away from the comments of Neu Ner and observing the behavior of Bitcoin (BTC) in the month of April, we find that there was a similar decline that bottomed out around the 1st of April. On that same date, Bitcoin was valued at a new low of approximately $6,500. The coin would later bounce back within a month and was valued at $9,600 by April 25th and $9,900 by the 5th of May this year.

Fundstrat CEO, Thomas Lee, has continually stuck to his price prediction of $25,000 per BTC by the end of the year. Mr. Lee is keeping an eye on the institutional investors who will jump into the crypto-markets as soon as regulatory guidance is given by primarily the SEC of the US.

Mr. Lee was quoted as saying:

“I think institutional investors have gained a lot of interest, and they haven’t really come into crypto yet because there is still some regulatory uncertainty. But that sort of ultimate allocation into crypto as an asset class is going to be a powerful reason why bitcoin rallies.”

Recent news indicates that the country of Thailand, through its very own SEC, has officially recognized the seven cryptocurrencies of Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple, and Stellar. The reasons given by the government organization is that these cryptocurrencies have been collectively agreed by the crypto community as being credible and at the same time, the digital assets are highly liquid/available.

This means the time is nigh for regulatory direction in the major countries of the United States, Canada, Russia, United Kingdom, Japan and South Korea. Once these countries give some form of direction, the institutional investors will not mind being part of the crypto-verse. They will, in turn, cause a resurgence of interest in Bitcoin (BTC) that will propel it to greater heights.

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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

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…

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Bitcoin

What Will Happen First: BTC 2k or 5k?

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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…

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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,…

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