Bitcoin may disappoint you in 2019. As we approach the end of 2018, there is a sentence that speaks the language: bitcoin’s low volatility is the precursor of pre-storm silence? No, there are many experts who say it’s not. So why do they think bitcoin’s gonna disappoint?
Bitcoin could disappoint you in 2019!
There are a lot of analysts who say bitcoin could disappoint you in 2019. However, analysts and optimists from Hong Kong to California, as we approach 2018, think Bitcoin will start a rally by the end of the year. Analysts predict between $ 20,000 and $ 300,000 will see a bullish run ahead in the crypto market. However, many analysts do not see it as possible for such a bullish run to occur.
Most estimates are based on the fact that the bull rush has always taken place at the end of the year, most of the last decade, except for 2014. Based on the fact that bitcoin has always had a bull run at the end of the year, a similar activity is expected for 2019. Although eight out of nine of December bull runs have been successful, the current rates suggest that the market is similar to 2014. ( After long horizontal movements in 2014, BTC lost 57.51% against the USD. This month’s market continued until the end of 2015)
Another common view we have heard over the past few weeks is that low volatility is often a sign of pre-storm silence in financial markets. However, BitCo’s current bearish triangular pattern is seen as a precursor of a downward trend, rather than an upward direction. In particular, given the number of fake breakdowns that have occurred in the market in the last few months, Bitcoin may disappoint you in 2019.
Renowned analysts are stepping back from BTC forecasts!
Arthur Hayes, CEO of Bittex, the crypto Stock Exchange, was usually a very optimistic figure about Bitcoin. Recently, crypto has admitted his true feelings about the future of assets. Before, Hayes had predicted the direction that Bitcoin would see $50,000 by 2019. But now he thinks bitcoin will continue horizontal movements for 12 to 18 months, and Bitcoin will disappoint you in 2019.
“The years 2014-2015 were the nuclear bear market. Prices were plummeting, trading volumes declined dramatically, and making money was very difficult.” quoth.
We also wrote a few days ago that the famous CNBC server and crypto commentator Ran Neuner had taken a step back from his $ 50,000 estimate. Click here for related news.
Tom Lee finds low volatility positive in market terms.
Despite all this, analysts do not regard low volatility and fixed prices as negative. One of the optimistic analysts is Thomas Lee, the founding partner of Fonstrat, the btcoin bull. Lee recently said that the non-volatile market wasn’t really a bad thing. He said that small markets often have higher volatility, and that this small market found its low volatility surprising compared to global assets worth $ 90 trillion.
In a largely unpredictable market, such as Krypto currencies, Bitcoin can certainly break out at any time, but overall view is that long-term horizontal movements will continue for a long time.
Factors that will stimulate the market, such as the launch of the Intercontinental Exchange (ICE) grocery platform and the digital asset unit of Fidelite, need to be taken into account. However, long-term decision-making may not have the expected impact on the market. The most important one is in what direction the SEC will decide about Bitcoin ETFs. The longer the time, the less interest in bitcoin ETFs. Therefore, such events may even have less impact on the Bitcoin price than expected.
Currently trading at the level of $ 6,300 and Bitcoin has been on a price line around $ 6,400 an average of two months. Bitcoin can continue to disappoint you in 2019, with Bitcoin staying in this range for Christmas and the New Year, as there is no extra volume and development expected to be more than $ 6,800.