Bitcoin Technical Analysis: Is Bitcoin heading towards $2000?

Are cryptocurrencies finally leveling out?

Bitcoin is undoubtedly the most popular topic of 2018. Although in terms of growth Bitcoin grew more rapidly in 2017 than 2018, millions of investors still invested in BTC this year. Investing in Bitcoin or any other Altcoin is becoming more and more practical every passing day. Clearly, cryptocurrencies have the highest potential of return than any other investment.

This might sound unbelievable, but if we take a look at the past of Bitcoin and Ethereum, then we can clearly see that people who stepped into the world of cryptocurrencies earlier made hundreds of thousands of dollars in profits. The trend, however, was broken in 2018 where after January all we witnessed was a downfall.

Although some investors made quite a lot of money this year too a majority of people are facing losses. If we compare crypto with stocks, then we see that no crypto has fallen as far as the stocks have for a majority of investors. In fact, my personal stocks are down by about 3% while my crypto portfolio is down by just 1.25%.

Technically this means that for this month surprisingly, the crypto market was less volatile than the stock market. Although this statement is very generalized, it is true. The cryptocurrencies Bitcoin and Ethereum are the backbones of the crypto world.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$10,239.47
0.94%
Ethereum (ETH)
$208.74
9.35%
Bitcoin Cash (BCH)
$325.21
7.61%
XRP (XRP)
$0.289178
12.33%
Litecoin (LTC)
$74.93
6.38%
Bitcoin Gold (BTG)
$10.25
1.47%

Should you exit the market before 2019?

The short answer is no. Experts in the market predict that cryptocurrencies will soon skyrocket. This means you should definitely buy Bitcoin than sell it. At the moment, the market is very cold, and I personally like to buy in when the market is bearish. I have seen that most of the people buy in when the prices are at its peak.

And that is something you shouldn’t be doing. The prediction that Bitcoin will skyrocket soon is backed up by a few factors. The first thing which might be of importance to you is that the investment banking giant Goldman Sachs has already started signing its customers for its cryptocurrency trading product.

That is good news, we can expect a spike in the price of Bitcoin, and as a result, a majority of Altcoins will skyrocket too. One question a lot of people tend to ask is that which cryptocurrency should they keep their funds in till 2019. I think Bitcoin or Ethereum are the best choices looking at the current predicament.

The reason you should buy Bitcoin is that not only does BTC hold a lot of value it is the oldest and most trustworthy coin in the market. It is essential to bear in mind that this isn’t financial advice. It is just my opinion and predictions from experts. Therefore you should only invest money you can afford to lose because the crypto market is still unpredictable and comparatively new.

Moreover, Bitcoin has no office or physical place where you could go to find out if you lose your money. The highly volatile market has had a reputation for being one of the riskiest investments you can make.

 

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.