Why is Bitcoin on the Rise Again in 2019?

Bitcoin is the first cryptocurrency in the world which is why it is the most popular in the crypto industry. It is the one that became the benchmark of other digital assets like Litecoin, XRP, altcoin and many more. In this society of digital evolution, many people are now using it as an investment to earn profit from this digital asset.

Experiencing a downfall in the year 2018, bitcoin’s price fluctuated in the cryptocurrency market. From the beginning of the month of January, it started spiraling down in which its price went down from $16,000 to $12,000. It then went down further and was trading in the range of $6000 during midyear. But this year, bitcoin is rising up and dominating the charts of the crypto market which is many are wondering why is Bitcoin on the rise again in 2019?

Many predictions indicate the bitcoin will have a wonderful year in 2019 as it will once again gain market dominance and be on top of where it once was. Like a phoenix that has risen from its ashes, bitcoin will be able to reclaim almost two-thirds of the crypto-market capitalization due to the risk of the aversion of the investors of altcoins.

In addition, the bear market of 2018 will be finally over and investors will once again expect the bull to run. Due to this, the price will run high and many large investors will come into play. This is because when small investors sell their assets for a small price due to fluctuations, big investors will buy these and make a profit when it starts to rise up making them earn big profits from these investments. These serious investors are the ones that help develop the needed boost on the market as they use facts and analytics in deciding their investments.

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.