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When Might Bitcoin See Another Rally?

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It appears that the time has come and that the crypto market is finally ready to shake off the bears, and start a new rally that will restore the coins’ prices. Bitcoin investors are particularly impatient right now, as the coin shows clear signs that it wants to grow, although one big resistance stands in its way.

At the time of writing, Bitcoin is struggling with overcoming the price of $4,000, constantly approaching it only to be brought back down. It did manage to break the resistance a few times now, although a correction followed nearly immediately, preventing the coin from breaking free, and confusing the investors who are wondering whether to buy, sell, or HODL.

Judging from its performance in the past, Bitcoin has the potential to reach at least $20,000, possibly more. Every time the coin hit the all-time high in the past, it was brought back down, only to rise even further during the next rally. If this happens again, its price may exceed $20,000, maybe even during 2019.

However, if we take a look at what is currently going on, some might say that this is unlikely, and for several reasons. One of them is the fact that the interest in Bitcoin has dropped, mainly because trading it is not making as much money as it used to. In addition, the investors’ attention has split, and many are now focusing on the other parts of the market as well.

This does not mean that Bitcoin’s influence or popularity are going down, however, as the coin still dominates the market by far. However, it is not receiving all of the attention, which can be felt in its performance.

What does Bitcoin need in order to surge?

Those who know Bitcoin from the “old days” know that the coin needs to re-awaken the investors’ and traders’ interest. If the investors start making money by trading it again, more cash will flow into the market, and Bitcoin will be able to grow once more. However, one theory is that this will not happen without institutional investors this time.

The last time Bitcoin grew was just after cryptocurrencies exploded back in 2017. Thousands upon thousands of new investors came to the market due to the rising prices, and they were ready to invest large amounts of money into pretty much anything. This was a period of hype that carried BTC to massive heights. However, the hype has died after the market crash in January 2018, and it is unlikely that it will come back.

Those who dared to invest large amounts back then experienced a harsh burn when the prices crashed, and the memory of the losses still remains. However, institutional investors are experienced enough to know when to invest and when to step back, which is why most of them would know how to handle volatility.

If institutions, such as investment firms, banks, and large businesses were to invest in Bitcoin, their competition would join up as well, and the cash flow could result in millions, if not billions of money flowing into the crypto market. This is the ideal scenario which may even bring cryptocurrencies to mass adoption, although this is unlikely to happen due to regulatory uncertainty.

However, it would be a start that would once again inspire trust in smaller investors, who would potentially return to the crypto space. All that BTC needs is to start growing seriously, and the new wave of excitement would follow, only this time, investors would know what to expect, and how to handle the situation better.

Naturally, this would mean that the massive sell-off would arrive at some point as well when Bitcoin completes the “positive” part of its cycle and starts its natural drop once again. However, as mentioned, investors would be ready for it, and the next bear market might not be so damaging as the one that struck in 2018.

To put it simply, Bitcoin will likely show serious growth only when it attracts the interest of institutions, and when things start happening outside of the markets. The positive thing is that some institutions have already started making careful steps towards investing in crypto and blockchain, although they are still extremely careful. While this is a positive thing, it means that Bitcoin is still running on empty and that the situation needs to change in order for a real growth to occur. Once it happens, the hype might follow once more, and the new rally would likely be able to bring the coin back to $20,000, if not even further, as it happened in the past surges.

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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

The Bitcoin Revolution: Everything You Need To Know To Take Profits

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Bitcoin is soaring high in the cryptomarket once again, and experts are expecting a return of the bullish trend of 2017. The current Bitcoin price is $7,615 as of 23 May 6:56 AM UTC. This significant jump comes just six months after the Bitcoin price plummeted to a low of $3150 in December 2018. Since then, Bitcoin has experienced steady growth and gain in the market. However, in the last 30 days, the Bitcoin price peaked to $8,320.82, its highest price ever. This phenomenal jump occurred in a span of only 10 days breaking the Bitcoin record so far of significant gains made in short time frames. This positive growth has led to experts forecasting the Bitcoin price to hit the $20,000 mark by the end of this year.

Since entering the market almost 11 years ago, Bitcoin is still at the top of the global cryptocurrencies list. The current circulating supply of Bitcoin is at unbelievable 17,708,875 BTC. The market trend of the Bitcoin price has remained positive even when the currency did not maintain an uptrend. Cryptocurrency researchers believe that Bitcoin has the potential to grow up to a high of USD 50,000 within the next two years.

How to Profit from Bitcoin…

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Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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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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