Bitcoin Could be Creating a “Perfect Storm” for 2019 to be a Bullish Year
Bitcoin (BTC), the most popular digital currency remains in a bear trend that started back in January 2018. However, there are several analysts and experts that believe that the cryptocurrency has already bottomed. These analysts believe that Bitcoin is in a perfect storm for BTC to be higher in the near future.
7 Reasons Why Brendan Bernstein Remains Bullish About BTC Future
Brendan Bernstein, a founding partner of Tetras Capital, wrote a tweet in which he gives some reasons why Bitcoin could start moving upwards in the near future. He mentioned topics such as the 2020 election, the growing US interest expense, and the Bitcoin halving in 2020, among others.
Theres a perfect storm for BTC right now
– Democratic socialism
– MMT (Modern monopoly money theory)
– QE infinity
– 10k boomers retiring daily (entitlements skyrocketing)
– 2020 election
– US interest expense > tax receipts by 2022
– BTC halving in 2020
Never been more bullish
— Brendan Bernstein (@BMBernstein) March 29, 2019
He has also received support from other individuals such as Thomas Lee, co-founder of Fundstrat Global. Mr. Lee said that there is a number of macro factors that will be acting as tailwinds for Bitcoin and that some of them were headwinds in 2018.
Lee has shared a list of things that could have a positive effect on Bitcoin this year. Some of them are a positive trend of the USD, EM will be outperforming equities, institutions increasing their investments in the market, new fiat-to-crypto on-ramps, the Lightning Network (LN) continues growing and more.
We posted this at start of this year pic.twitter.com/H2zfDlaT4g
— Thomas Lee (@fundstrat) March 29, 2019
According to Thomas Lee, the US dollar will be wakening during this year due to QE by the FED or the US debt reaching an all-time high. Moreover, the 200-day moving average also seems to be acting positively for Bitcoin. The price of Bitcoin will be supporting the 200-day MA and start a new bull run.
It is also worth mentioning that there are several crypto-related firms creating the necessary infrastructure for larger investors to place their funds in the market. In 2018, if institutions wanted to invest in the crypto market they were not able because custody solutions and the whole infrastructure were not designed to welcome these investors.
Fidelity Investments has launched Fidelity Digital Assets in order to accept cryptocurrency investments from larger companies. Other firms such as the Intercontinental Exchange (ICE) are also working on their own platforms to receive larger sums of money. The ICE is expected to be launching Bakkt this year and provide physically-backed Bitcoin futures.
Since January 2018, Bitcoin is in a bear trend. In December 2018, the virtual currency reached $20,000 and it started to fall since that moment. A few months ago, Bitcoin reached $3,200, the lowest point in more than a year. Since then, the digital asset is being traded sideways between $3,200 and $4,200.
Currently, each BTC can be purchased for $4,100, moreover, the digital asset has a market capitalization of $72.26 billion. Just on March 30, Bitcoin tried to surpass $4,200 but it was rejected and it fell $125 dollars in just a few minutes.
This Weeks Bitcoin Price Predictions, Analysis and BTC Chart Forecasts
Every week in 2019 we have put together a weekly bitcoin price news of today column together and this one was another jam-packed edition of experts weighing in on bitcoin’s price analysis and trading value actions.
Latest Top 10 BTC Price Prediction Posts of This Week
As the most active bitcoin news publishing portal online, we see it fit to summarize all of the top overviews of the latest week to give you a rundown summary of all the best insights and analysis available.
Historical Bitcoin Price Inflection Point Suggests Last Chance to “Buy the Dip”
Bitcoin could reach halving by May next year, and analysts believe that this is the best time to get involved. As miners lose value in their rewards, the price will soon grow stronger, which means it may not be as lucrative to purchase in the future. Getting into BTC early before this major spike in price will be the best way to watch investments growth. Will you get in while Bitcoin still is around $4,000, or are you waiting for the market to reach higher first? Read
Bitcoin Bull vs Bear Showdown: Weekly Resistance & Monthly Outlook
Bitcoin bounced around the $4,100 mark, but the news of the Bithumb has trended it downwards as investors became nervous about of their investments. Still, CNBC Futures posted a positive tweet, clearly on the bullish side, and Bitcoin even experienced a short rally. Are all of these developments a positive indication of where Bitcoin could go for now? What is this month looking like for the original crypto asset? Read
Bitcoin’s Horror Story: A BTC Price Drop to $1,000 USD Before Bull Run Starts
Crypto investor Nebraska Gooner believes that Bitcoin is going down soon, reaching $1,000 before long. Explaining the similarities between the bear cycle of 2014 and today, he explains how the current bear market shares a lot of similarities with what the market already experienced. The Bitcoin market has seen a decline of over 80% from its highest high, and the history of this popular asset is worth examining. Read on to learn about the similarities of the markets between now and then, and what that means for current investments. Read
Bitcoin 50 EMA Shows “Incredible” Support, Analyst says BTC Tide is Turning
Bitcoin has been struggling to reach over the $4,000 mark from its previous $3,700 level this last month, reaching $4,070 in the process. However, a big move has yet to happen, as the token continues to slowly push up at a steady pace. The reach of the market has largely discussed how these trends have happened before, and a recent post from crypto analyst Magic Poop Cannon decided to compare the two cycles, breaking down the resistance that Bitcoin is up against, starting with the “incredible” support of 50 EMA. Read
CNBC Analyst with CME Traders: Bitcoin Futures Levels Look Very Promising
CNBC’s “Future Now” program recently welcomed traders Jim Luorio and Scott Nations to discuss the BTC futures market, while addressing some of the key technical levels involved with it. Though Nations said that the fundamentals are weak, which indicates that there are some barriers that Bitcoin could soon face. The discussion also brings up the addition of new blockchain projects coming in, and what that could mean for the aspiring value of BTC and other assets. Read
Bitcoin Still in its Endless Loop of Consolidation: BTC Price Technical Analysis
As Bitcoin sees some more movement in its price, analysts find it necessary to evaluate the stimulants for this movement, seeking out patterns that can indicate any changes they should make in their predictions. Residing above $4,100 still, there have already been multiple circumstances that have taken the coin right back down after meeting this level. Read on to learn more about the most likely two situations that will end up playing out. Read
Top TradingView Analyst Claims Bitcoin is Entering a Bear-to-Bull Phase
On Wednesday this week, trader and analyst Magic Poop Cannon shared a tweet that suggested Bitcoin’s entry into a bull market, moving away from the bear market that has plagued the industry for well over a year. The last time the market saw the same bullish nature was back in December 2017, as it nearly reached the $20,000 mark. However, falling over 80% pushed it immediately into the bear market. What is different now? What signs has the analyst seen that the bear market is fading away? Read
Bitcoin: The Apex Predator of Money Beats Fiat & Gold
Bitcoin has been in the industry for an entire decade, and it has faced its share of challenges during that time. The regulations of the market are still largely discussed throughout the world, but the concept of using it as a store of value and medium of exchange is easy to see. Co-founder of both Interchange HQ and ZeroBlock took to twitter to discuss the “exceptional” genetic code that drives Bitcoin, challenging the longevity that both fiat currency and gold are believed to have. Bitcoin has been lauded as “digital gold” for much of its lifetime. What would it mean if Bitcoin could replace gold all together? Read
BTC to Start Pumping This Summer, Says Trader A Year From 2020 Halving
The current circumstances of Bitcoin appear to be at a standstill, residing comfortably at the $4,000 mark with a $70 billion market cap. Still, there is a trader that believes that Bitcoin will soon start pumping this year in the summertime, based on the expectation of the Bitcoin halving, even though it is not expected to come until next summer. Still, considering that there’s time before the Bitcoin price should significantly change, crypto trader Moon Overlord is discussing what is planned to happen over the coming weeks, based on his research. Read
Long Time Investor Cautions Of Potential BTC Price Plunge via Data Chart
Many people in the crypto community believe that the crypto winter could be over, but not all analysts agree. Amarok, a crypto analyst, took to Twitter to discuss the “short-term prospects” of Bitcoin, which he does not see as a positive opportunity. Discussing the current BTC charts, along with BTC’s lack of passing the 0.786 Fibonacci threshold before another loss, this analyst breaks down the concerns that investors should have on investing with Bitcoin. Read
Bitcoin and Friends: A Cartoon Series About Bitcoin With a Scatological Twist
Bitcoin and Friends is a new cartoon series released on YouTube that aims at telling Bitcoin’s history with a scatological twist in it. The first episode focuses on “B,” a recently created Bitcoin that is searching for his father after waking up in a hospital room.
The series has been produced by the pseudonymous studio Uncle Chris Productions, that has written a full first series of Bitcoin and Friends. Decrypt was able to reach the team behind the series and talk about the decision to create these chapters.
Broccoli Rob, one of the core team members commented about it:
“Some of us decided to use pseudonyms in homage to Satoshi. Our backgrounds range from video production to banking but we are all united in our deep love of Bitcoin, comedy and cartoons.”
Other team members are Jumper Jake, Berdian Torres, and Uncle Chris. Rob believes that the last year has been very difficult for Bitcoin and that they can make it all through this journey if we laugh about these things.
The website accepts donations from users and it can trigger rewards starting at $15 dollars. Users donating this amount of money will get a private screening and also an AMA. Meanwhile, those that decide to donate $2500 will be receiving a “personalized character” in the show. Other companies can invest larger sums of money in the show.
The first episode is an introduction to the world of virtual currencies, Bitcoin, proof-of-work (PoW) and it features different characters. Some of the individuals that have already appeared on the show include Satoshi Nakamoto and Vitalik Buterin (called Mitalik in the series). They also mention Ethereum (ETH). There are other characters that appear in the show as well.
To unlock the second episode, the team still needs 4.95 BTC, close to $20,000 at the time of writing.
March 31st: An Important Day for Bitcoin’s History
March 31st is one of the most important days in Bitcoin’s (BTC) history. Several important events took place on this day in the last ten years. One of the most remembered things is related to the day in which Bitcoin exceeded for the first time the $1 billion barrier. However, there are many other interest things that took place on March 31st.
2013) Bitcoin’s Market Cap Surpasses $1 Billion For Very First Time
Back in March 31st 2013, Bitcoin surpassed for the first time $1 billion in market capitalization. Now, 6 years later, Bitcoin’s market capitalization is over $72 billion and it seems that the market wants to see larger numbers.
2014) IRS Calls Bitcoin a Commodity
In 2014, the U.S. Internal Revenue Service (IRS) decided to label Bitcoin as a commodity. Bitcoin and cryptocurrencies still remain in an unregulated market. However, things could change in the future if regulatory agencies start providing clear rules about digital assets.
The IRS released a statement in which they inform that general tax principles that apply to property transactions apply also to transactions using virtual currency. This showed that there was an intention from regulators to integrate virtual currencies into the legal financial system.
2015) Dirty DEA Agents Found Stealing Bitcoin
Later in 2015, on March 31st, two agents of the U.S. Drug Enforcement Administration and the Secret Service were stealing Bitcoins in an undercover investigation of the Silk Road. Individuals that never heard of Bitcoin before realized that there was vast potential in Bitcoin and digital assets.
2016) Ethereum Gains Microsoft Acceptance to Visual Studio
In 2016, the software giant Microsoft announced that it partnered with ConsenSys to enable developers to build, test and deploy decentralized applications within the Microsoft Visual Studio Platform. This was one of the first agreements among Microsoft and the blockchain and cryptocurrency industry.
2017) Bitcoin Becomes Official Payment Method in Japan
In 2017, Japan recognized Bitcoin as a payment method, something that was very important for other countries to follow. This showed that governments were ready to start recognizing the virtual currency and its influence in the economy.
2018) Twitter Goes Gangster and Blocks Crypto Advertisements
Just last year, the social media company Twitter, decided to ban cryptocurrency-related ads for users. Due to the fast growth experienced by digital assets in 2017, several individuals and scammers started to promote fraudulent Initial Coin Offerings (ICOs) and other projects. Social media networks were the best way of spreading fake investments that ended up stealing users’ funds. This is why Twitter, following Facebook and Google, decided to ban crypto ads on its platform.
Some of these firms are starting to take more flexible measures for companies to be able to promote their services on the most popular social networks.
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