Bitcoin BTC Price Declining After Five Days of Green

0
328

Bitcoin BTC Price rose for the past five days from $3,244 to $4,192, but it seems we are not out of the bear market just yet. In today’s analysis, we will take a look at the market cap for bitcoin BTC price and other top five cryptos.

Historically speaking nothing changes regarding bitcoin dominance that remained unchanged at 53%. That said, we have all witnessed the downfall of cryptos and bitcoin BTC price.

bitcoin BTC priceChart from coinmarketcap.com

Before getting into our analysis let’s take a look at what is happening at this moment with bitcoin BTC price. So after five days of green for the crypto market, we dropped nearly 1,3% across the board. Today’s bitcoin BTC price is $4,089 at the time we wrote this article.

Bitcoin BTC Price Expectations

Table of Contents

We have debated in the past what are the expectations for bitcoin BTC price, but not much hype happen since. The same question arises everytime bitcoin BTC price starts to rise, when is bitcoin getting to $10,00 again?

To reply to such a question, we can formulate an educated answer and say that no one knows. However, that doesn’t mean we can’t try to predict a future bitcoin BTC price or at least speculate.

Yes, bitcoin BTC price might get to $10,000 in the mid of Q2 or beginning of Q3, 2019.

bitcoin BTC priceChart from coinmarketcap.com

Remember we had a previous article regarding bitcoin BTC price and future projections and so far our analysis turned to be ON POINT. If you missed that article make sure to check it out by clicking HERE. So previously we stated that bitcoin BTC price would drop to $3,200 and $3,100 respectively before Christmas.

Bitcoin BTC Price Analysis

Ok, so we are sitting at $133,6 billion and $27,7 billion traded volume. In the past seven days, we were at $104 billion market cap and $11 billion traded volume. From analyzing this data alone, we can conclude that we almost triple the traded volume in only seven days.

You will probably ask me now what drove the markets for the past seven days and to be honest, not much. We haven’t experienced any breakthrough yet, and we are not out the bear market. However, this is the perfect opportunity to revise your portfolio and trading strategies.

bitcoin BTC priceGain view from coin360.com

Moving forward, based on this data alone we can see that just trading the cryptos can reverse the bear market.

But Wait That’s Not All.

Ethereum has a good run too and also Bitcoin Cash BCH with almost 50% increase in price. Following Reddit and other crypto related forums, we saw that people didn’t give up and they will never will.

Also, among them are a distinct chunk ho both the Bitcoin BTC price deep. Averaging that down with a minimum investment of $5,000 they already made over $2,700 returns in only seven days.

How Far is Bitcoin BTC Price from $5,500?

Technically speaking we are not far off from a bitcoin price of $5,500 sin we already jump from $3,244 to $4,192 in the past seven days. However, there is still the resistance at $4,124 and $4,378 respectively.

Crypto Christmas is around the corner, and we are hoping to see more involvement within the blockchain. Also, ICO projects will soon deliver the working solution the promise and if not the market will not see a bull run anytime soon. But that’s a good thing because THE PURGE will make the separation from relevant cryptos and hopefully exchanges will stop listing trash coins.

Before THE PURGE we will probably not see much volatility for bitcoin BTC price and the other cryptos.

Ethereum ETH Second Best Crypto in Trading Volume

Ethereum ETH has generated over $3 billion in traded volume and $12 billion in market cap for the past 24 hours. We dismissed Tether USTD from second place since is centralized crypto and is backed by the US dollar. However, that alone is a different subject and a different opportunity.

bitcoin BTC priceChart from coinmarketcap.com

For the past seven days, Ethereum ETH was low as $83 with an $8,6 billion in market cap and $1,6 billion in traded volume. The highest Ethereum ETH price was $118, a market cap of $12,3 billion and a volume of $3,2 billion.

What’s interesting about Ethereum is that the projects built on the ethereum platform are almost ready to deliver. That’s the key entry point and potential massive gains for all tokens on ethereum platform. So prices of $310 for Ethereum ETH are on the table in the near future.

Conclusion

bitcoin BTC priceChart from coinmarketcap.com

For those who missed this opportunity, don’t worry other will come and probably sooner than expected. Also, for those skeptics out there Cryptos are here to stay and the only thing you can do is complain why you didn’t make money like the rest.

Whatever the outcome, for us “Crypto Enthusiasts” opportunities are always around the corner. If you have cryptos just HODL!

Like always I wish you all Happy Trading and Every Success!