After the amazing prices of the beginning of 2018, the crypto industry could not heal and still surviving. There were moments in which most of us thought Bitcoin would recover again, but we were disappointed once again as November came with a hard bearish market. Bitcoin experienced loses of thousands of dollars in a few weeks, discouraging all crypto investors. Also, Ethereum’s long reign as the second-ranking crypto came to an end and many other altcoins just disappeared off the radar.
So yes, 2018 was rather disappointing overall for the crypto world. The markets are hovering at values that are lower than they have been in over a year and there it doesn’t seem like there will be any sudden increases in the last month.
But will 2019 come with good prospects, or will it bring even worse scenarios for our coins and tokens? In this article, we will be examining past, present and future predictions to see what the industry’s great leaders believe what will happen in the following year.
Table of Contents
Can Crypto Market Moves Be Accurately Predicted?
Unfortunately, there is no straight answer which can be given to this question. The crypto market is prone to sharp fluctuations which can happen at any given moment. So naturally, not even the most experienced of traders and analysts can predict its movements with complete accuracy.
All forecasts are just based on certain patterns which recur on a certain basis and some key factors that can influence to some degree. Keep in mind that no matter how hard you try to predict every move of the market, you will most likely be wrong about most changes. The best approach would be to keep your eyes on major trends that have the potential of shifting the markets in order to avoid losing too much.
On the bright side, no one is really at an advantage here because everyone knows just as much as the next person about how the prices will develop.
Still, some predictions happened to come true, and in today’s article, we will be exploring the most notable ones in the crypto space.
Crypto market: Expectation vs Reality
There have been several instances in which leading names from the industry made some predictions regarding the crypto market in 2017 which turned out to be true.
The Crypto Market
In 2018 it was generally believed that the crypto market cap will see great increases as more blockchain projects will appear and the technology will see more development and adoption.
In spite of the many negative turns the market has had, many experts and analysts stayed positive regarding its future evolution. Even though blockchain has become more widespread in use in various industries this year, and more people have shown more interest in cryptos, the market still experienced heavy losses.
Also, many leading nations in the technological field have acknowledged the potential of this emergent technology. Many of them have launched or are thinking of creating their own cryptocurrencies. Several institutions were also pondering on getting involved in this aspect as well.
William Dudley, President and CEO of the Federal Reserve Bank of New York, publicly revealed last year that the institution was contemplating of launching its own virtual currency.
Estonia was also thinking last year of introducing its e-Residency program together with its very own crypto called Estcoin. Its e-Residency programme is one of the first government-led programs to save its own data on Blockchain. Estonia is widely regarded as being one of the most developed and innovative technological countries which are always seeking to implement the most cutting-edge innovations.
Riksbank, Sweden’s central bank is also interested in issuing its proprietary digital currency. The coin called eKrona has already been listed on CoinMarketCap, but it is still currently inactive since there are some processes that are still under development.
Certain banks in Japan have made plans of launching their own cryptocurrency called J Coin, which is scheduled to be released before the 2020 Tokyo Olympics. The crypto will be backed at a 1:1 ratio to the Yen. The cryptocurrency will be used as a payment for goods and services which can be used via smartphones.
It is also interesting that China, a country which has adopted a very radical stance against all things crypto, has already stared trails for its own coin, and Russia has also manifested an interest in Ethereum.
2019 Predictions
The biggest questions which plague the minds of crypto investors, traders and analysts are regarding the price and position of Bitcoin. Will it still be the number one coin in terms of price, transaction volume, and market cap in 2019?
Well, most will agree that Bitcoin will still be the crypto to rule them all, but the opinion regarding its increase is split, with some supporting that BTC will boast new highs, while others remain reserved.
The future price growth of Bitcoin or any other altcoin will be largely influenced by the regulations issued by governments regarding their legality, taxation, and what role they have in money laundering and other illegal financings.
One important prediction for 2019 comes from Wallet Investor, which believes that Bitcoin will hit a price of $36,000 by the end of the following year. Personal Loans forecasts that the number one coin will reach a whopping price of $207,000 USD at some time in 2019.
Wences Casares, a director at PayPal, makes a bold future price estimation of $1m which will happen in the next 5-10 years. Tech veteran John McAfee sees a less major increase in the next 3 year for Bitcoin, speculated that BTC will have a value of $500,000.
Dan Morehead, CEO of Pantera Capital, has expressed his belief that the crypto market could reach an estimated value of “$40 trln” in the following decade.
It is estimated that nearly 90% of all cryptocurrencies will die out. And this speculation is supported by the fact that almost 50% have already been declared dead. Almost 1000 out of the total of 2000 cryptocurrencies available have been declared either dead and/or scam.
The only cryptocurrencies which will remain standing will be those that have real value and use. As they will have fewer competitors and have already established themselves to have worth, they will continue to keep on growing both in terms of value and adoption.
So Will the Crypto Market Recover in 2019?
There is no one with the power to accurately telling what the future has in store for the crypto market. In spite of this grueling year, experts still keep a positive outlook for 2019 and believe it will bring significant development to the market, which will restore some of the sustained financial losses. Of course, 2019 will also not be spared of volatility and scam coins, so it is recommended that all traders practice due diligence when choosing a new crypto or enter a new investment.
BTC Price Analysis: Will Bitcoin rise or fall?
Our latest Bitcoin price prediction article for February 2019 asked the question whether Bitcoin could move higher than the important psychological level of $4000. Bitcoin made a rally up to the price level of $4280 on February 24, 2019. As of March 4, 2019, it has retraced to the price level of $3815. In this article we will present some Bitcoin price prediction figures for March 2019 and we will refer to our technical analysis scenarios, a positive one and a negative one.
Bitcoin performance
Bitcoin price performance for early 2019 has been negative, as the year-to-date performance as of March 4, 2019 is -2,06%. As we are still in early March 2019 the price of Bitcoin is in a narrow trading range between $4000-$3800. It is interesting to mention what are some Bitcoin price prediction ranges for March 2019 from various online sources. Some key statistics for Bitcoin as of March 4, 2019 are:
Market Cap: 66.01 B
Circ. Supply: 17.57 M
Current price is $3751
52 Week Low-52 Week High: $3,178.33- $11,666.9
Volume: 7.93 B
Max. Supply: 21.00 M
Bitcoin price prediction
LongForecast.com estimates the following Bitcoin price prediction for March 2019. An open price of $3827, a minimum-maximum range of $3278-$4371 and a close price of $4048 for a monthly return of +5.8%. it is a rather conservative Bitcoin price forecast overall.
PrevisionBitcoin.it mentions in its Bitcoin forecast for March 2019 “On March 2019 Bitcoin may heavily boost its price. We assume as high predictable a mass adoption of this cryptocurrency next months. We expect on March 2019 a Bitcoin rise with a strong capitalization and consequently a concrete value per coin increase.” It also provides a minimum price for Bitcoin which is $3521.95.
Coinpredictor.io appears very pessimistic on Bitcoin. It has a Bitcoin price prediction that a decline of -31.1% may occur during March 2019 and that bitcoin could reach the price of $2628.31 by March 28, 2019. The 4-weeks predicted price for Bitcoin is $2626.68.
WalletInvestor.com provides a range of Bitcoin prices for the next 14-days.Its Bitcoin price prediction is that Bitcoin price target in 14 days could be $4262.407 to the upside and $3815.444 to the downside. However, its forecast trend line is above its price line, which indicates optimism about the Bitcoin price soon.
Bitcoin monthly price predictions based on technical analysis
As a reminder our Bitcoin price prediction for March 2019 is not an investment recommendation, rather an article to inform and express our opinion. What does the daily and weekly charts for Bitcoin tell us about its price movement in March 2019?
Bitcoin price prediction – Bullish scenario
There is strong support at the price levels of $3650, $3750 and $3430 showing that it will be difficult for the price of Bitcoin to drop below all these three levels in March 2019. We note a consolidation phase and the fact that both 20-period and 50 -period exponential moving averages are flat indicating that a breakout may occur sometime during this month. However, the strength of the trend that caused the rally in February 2019 is no longer evident in the market.
Our upside price target for March 2019 is the price level of $4175-$4220, where the daily upper Bollinger band should provide resistance and possibly some profit taking. On the weekly chart it is positive that a bullish MACD crossover has taken place and that Stochastics indicator (14,3,3) is moving up.
Bitcoin price prediction – Bearish scenario
The current trend has changed from downtrend to range-bound and both 50-day and 20-day exponential moving averages are flat after a short-term rise. Bitcoin is struggling and not yet achieved to close above the 20-day price exponential moving average, and the 50-day exponential moving average. We wrote in our previous article that any short-term rallies may fade soon. This is exactly what happened after the rally up to the price level of $4270.
MACD indicator on the daily chart has made a bearish crossover, and the Stochastics indicator is moving to lower levels without yet making any bullish crossover. A very large bearish candle formed on February 24, 2019 shows that there is intense selling pressure for Bitcoin near the price level of $4270. A downward move to the price level of $3590-$3400 is very probably during March 2019 if Bitcoin cannot close above the price level of $3900.
What is the most probable Bitcoin price prediction scenario?
As Bitcoin is in a consolidation phase both scenarios are possible, but we give more emphasis on the bearish scenario. Source: Coindoo and Utoday
Find All Cardano Coin News, Bitcoin Gambling, Kraken, Bitcoin Stock Price, Bitcoin Coinmarketcap, XRP USD Tradinview, Ripple Coin News in TheOofy.com
