Bitcoin became the most popular and strongest cryptocurrency when its price increased to a large extent in the end of December 2016. Since that time period, there is no looking back for Bitcoin as it continues to remain steadfast, maintaining the top spot in the crypto market. However, with time, Bitcoin’s value plummeted down, sending the crypto investors in a frenzy. Our question is, will Bitcoin go up again in 2019?
How is Bitcoin going to perform in the coming year? We are going to predict BTC’s value in 2019 and we hope this information will be useful for potential investors while making a substantial decision.
Bitcoin Remains Steadfast
Bitcoin, being the first cryptocurrency to have emerged in the crypto industry, has remained steadfast in the past few months. It catapulted a lot of investors and users to take interest in investing in BTC as soon as its value hiked by the end of 2016.
It is quite surprising to know that despite being the first digital currency to have been launched in the crypto market, Bitcoin still does not have any official development team. This indicates there are no pending updates, no revisions, or even changes that are being performed that can somehow eradicate the shortages found in the BTC network.
One of the significant shortages found in the BTC network is its scalability because the BTC transactions have been found to be slow as well as more expensive compared to the altcoins. This shortage is making BTC quite non-practical for the users especially when they have to transfer small amounts of BTC to the other addresses.
Lately, the crypto markets have witnessed quite significant rebound, with Ethereum taking a jump in its value by 12 percent. The rest of the market has touched its yearly low recently. As far as Bitcoin is concerned, its value has plummeted down by more than 60 percent but that still pales in comparison to the other altcoins. If we look at how Ripple performed, its price went down by over 90 percent.
Despite Bitcoin’s value going down and its network having shortcomings, Bitcoin has still managed to stick to the top position at the coin market cap. This indicates that Bitcoin still has a great potential in the crypto market and investors will definitely consider investing in it.
Unlike Bitcoin, none of the altcoins have managed to reach a record value of $18,000 so far. Many crypto enthusiasts believe that Bitcoin still has the potential to reach the same value in the coming year. In fact, some of them also believe that Bitcoin is most likely to rebound in 2019 whereas altcoins may not come back.
Will Bitcoin Go Up in the Coming Year?
The question we are going to discuss in this post is: will Bitcoin go up again in 2019? This is an important question that is concerning a lot of investors who are planning to plunge their funds in Bitcoin investment especially in the coming year. We are going to predict how well or poor Bitcoin is going to perform in 2019.
Looking back at the previous year, the values of several digital currencies have significantly plummeted especially by the end of 2017 and the beginning of this year. Unfortunately, Bitcoin is also included in this list of cryptocurrencies. As Bitcoin’s value significantly dropped this year, many crypto enthusiasts and crypto investors were left disappointed, ultimately affecting the general buzz Bitcoin had created in the crypto market.
The price drop has made many investors have second thoughts regarding their decision on investing in BTC in the coming year. Since the end of 2017, Bitcoin went on to drop down by -66 percent in the market. If we look at the trading analysis, there was a time when BTC was trading at an all-time high of $18,000 per one BTC. Currently, Bitcoin is being valued at under $7000 with only irregular price boosts that have somehow succeeded to push BTC up to the value of $7000 several times during the last few months.
It has been predicted that the value of Bitcoin is most likely to increase and may even break the constant resistance of $7000 in the coming year. During the most recent rebound that took place on the 15th of October 2018, Bitcoin’s value was increased by 5 percent just in a period of twenty-four hours. However, just a day later after the rebound, the value of Bitcoin was seen close to 0% and was trading at the value of $6,618.
The majority of crypto enthusiasts have only one major possible concern for Bitcoin right now and that is there are no regular updates and revisions in the BTC network which makes it one of the most expensive blockchain-based networks for allowing users to make the monetary transactions.
Having said that, the predictions for Bitcoin performing well in 2019 still remain positive as it is the most popular mode of investments in the blockchain industry. Let’s hope Bitcoin proves these forecasts right and manages to go back up again in the coming year.