The experts predicted the year 2019 is going to be good for the cryptocurrency market, but the market has seen its ups and downs from time to time this year. 2019 has not begun with a slow, taking off in the market. Bitcoin the largest cryptocurrency firm also has had its bad days since it jumped up to its highest value of $19,500.
After the December 2017 to January 2018, the hysteria of the market ended, and everyone was hoping BTC to gain its position back in the market. But, unexpectedly, BTC doesn’t reposition and its suffered loss more and more. Now, the price of BTC in the market is floating above $4,000 and there are no comments that the next bear’s grasp will take this price even lower.
The made was created by the anonymous person recognized only by his pseudonym identity, Satoshi Nakamoto; BTC was made to support users to store and transaction value without any need of a mediator or centralized firms like banks. Bitcoin was created in 2019. Bitcoin was earlier encountered with much veneration and has been applauded for its strength to challenge with VISA as a multinational payment source.
The Bitcoin has been through tough times in 2019 and it is struggling to keep the continuity in its performance and its present trading value is $4,156. Its strong aid has remained at S1 $4,120.3.
Despite Bitcoin (BTC) assassination around its abuse because of the issues of expandability and negative promotion of big financial firms to relate it with false news linking to terrorism, fraud, and laundering, keeping it to be the vital dominant money of the market with more than 50.5% of cryptocurrency market share contributions.
As predicted, some advisors or experts have given their thoughts about the present bear market and most of the experts don’t interpret it’s going to end early. While BTC may have some short-term steadiness, it may require long-period work for it to get to its overall time increase value of almost $20,000.
A Bitcoin and technology researcher, Boris Hristov said about the present market situation, as per him, the only path the BTC is going repositioned its actual credibility and self-possession is if firm investors come in the market. But, most of them don’t want to take economic risks related to cryptocurrencies trading; they don’t want to participate in the market. In his words: “Some potential institutional candidates are Marco funds CTAs, multi-strategy funds and alternative strategies have about $600 billion AuM. Commodity assets alone that are held by hedge funds were $300 billion as of 2017. It makes up for 10% of the AuM. BTC may fall into this bucket. Macro funds are potential institutional candidates. However, the current circumstances are bleak.”
The most vital factor that drives the price of the BTC, in summing up to the conjecture of the course, are the numbers of users and the needs of users, which is growing over the years and this provides a scheme for the expansion of the choosing of the major virtual money.
Peter Todd currently made a scandal for the networks, by saying that the Bitcoin is ‘inflationary.’ The strong protest was made against Todd’s statement from the cryptocurrency community. Bitcoin has a history of having ups and downs, every time with increasing maximums changed by the decreasing values. Experts try to evaluate what will the future situation for the Bitcoin in Q2, Q3 and Q4 of 2019, and forecast if we it made up to the value of $20,000 this year, and what would the next year value of BTC.
In November 2017, it starts its increasing trend with a value of $8357.10 and then increased up to it’s historically increased after 27 days at the value of $9,874.60. After 5 days, BTC has its sentiment correct to make $10,818 per unit and to take off again so it’s another historic price of $17,151.10 in January 2018. And after a month BTC reaches to its price of $6,029.90. This year it is floating between the bands of $3,800-$4200 in current months.