Is btcoin rally possible before the end of 2018? During the spelling, the Bitcoin price is still at $ 6,300. The price has been floating around these levels for the past few days.
Are we going to see bitcoin rally before 2018 is over?
Bitcoin is recovering slightly after falling to $ 6,200 for the second time in less than a month. So far, one of the previous predictions is coming true. Bitcoin fell back to $6,200 and did not regain full strength. This was the first time in early October. Krypto money fell after trading at $6,500 for more than a week. But he was able to recover up to $6,400. He seems to be losing $ 100 in every recovery. If bitcoin continues to pursue this behavior, we can see that it has reached $ 5,000 before the end of the year.
However, in 2015, Bitco went down to a new low that allowed it to trade under $ 200 in January 2015. During the rest of 2015, Bitcoin tried to get rid of the heavy chains. But mostly it was around $ 200 by November. This month, bitcoin managed to break $ 300. Then, positive volatility and price fluctuations for two years led to an explosion of $ 20,000 in late 2017.
There seems to be something magical in the November mood for bitcoin. It is accepted that the spell has come to mind again and that Bitcoin has decided to repeat this behavior. This month, it could potentially create wonders for everyone’s favorite crypto money. After a year of non-stop struggle and steady price cuts, Bitcoin can make a happy turn in eleventh month. Bitcoin is expected to be able to pick up and make a move forward in its price.
What do the experts say?
This sentiment is shared by two analysts who claim that the bearish market, which has plagued Bitcoin all year, may be close to hitting bottom. Kevin Lu and Theja naval from Element Digital Asset Management said some miners were leaving the sector due to rising costs and low earnings. This may indicate a rally in the coming months.
“Monitoring the rise in bitcoin’s difficulty is an important indicator of how close we are to the brink of mining abandonment and of a period when inefficient miners begin to leave the network.”
Then they added:
“Historical cycles show that we need a negative outlook for 6 to 12 months to improve the difficulty with the prices that are going down. The historical cycles show that at the bottom of the bear market cycle, periods of negative Difficulty increase occurred.”