Sunday, April 22, 2018

Bitcoin Price Hits 4-Weeks High- Are Bad Days Over?

Bitcoin is enjoying its first back-to-back weekly gains of 2018. Its price has increased by 34 percent from April 1 low of $6,450. Also, its total market cap has hit its one-month high of $152 billion.

Bitcoin Price today is trading at $8,864.

When will bitcoin price rise again? Cryptocurrencies Price is Increasing
When Will Bitcoin Rise Again?

Having its worst few weeks, this surge in its price is a big relief for the community. After huge expectations following the December high where Bitcoin almost touched $20,000 on few exchanges, 2018 turned out to be the biggest disappointment. The cryptocurrency had its worst first quarter in history with $119 billion wiped off its value.

Since then, there has been a stifle tug of war of bear-bull with the price lurking between $6,000 and $11,000 all this while. 

Also Read: How to Avoid Bitcoin Panic Sell

Bad Days Are Over?

While the current price is still in the same range and it can go any direction if we’re looking at its recent trend-lines, many experts believe that the worst may be over.

Dan Morehead, the CEO of reputed crypto hedge fund Pantera Capital, believes that it’s now the best time to buy Bitcoin. He said, “Something that’s growing that fast hardly ever gets below its 200-day moving average. When it does, it’s a very good time to buy.”

“It’s 65 percent below its high, you don’t get that opportunity very often,” he added.

When will bitcoin price rise again? Cryptocurrencies Price is Increasing
When Will Bitcoin Rise Again?

Even in the Bitcoin Prediction 2018, there are people who said Bitcoin will reach $50,000 this year. But before that, the cryptocurrency may plunge to as low as $5,000. Indeed we didn’t go that low and there’s a good chance that we still can. However, at the present, the perception about Bitcoin is slowly becoming positive again. After a slump, with panic-bound, short-term players out, the market has become much more stable and steadfast.

And unlike the last few times, many indicators show that this isn’t a bull trap this time.

This means, in the coming days, we could see Bitcoin rise again to new heights. Of course, the progress might not be as quick as it was the last time. And there would certainly be price falls in the course. But on a long-term graph, the line will continue growing steadily. The pace might increase once the institution money starts flowing in.

Also Read: RBI News on Bitcoin- What Bitcoin Future in India Looks Like

It’s NOT Just Bitcoin

The good news isn’t just for the Bitcoin’ers. At large, the whole of Cryptocurrencies seems to be in green. Many of altcoins, in fact, have now outpaced Bitcoin in growth rate. Ripple, IOTA, EOS, BCH, BCG, NEO, Ethereum and more are all rising from their April 1 low at a faster rate than BTC.

When will bitcoin price rise again? Cryptocurrencies Price is Increasing
Cryptocurrencies Price Rise

So if you didn’t panic sell when things were going bad with the Cryptocurrencies, congratulations. As the year closes, it’s very likely that you would be rewarded big. But if you’re someone who sold their holdings or still doesn’t own some, buy Bitcoin instantly. Because the experts believe that once this train leaves the station, it isn’t coming back. 

To keep up with everything big happening in the Bitcoin world, SUBSCRIBE NOW to the leading Bitcoin India Blog!

No comments:
Write comments

Get Bitcoin News, Predictions and Hottest Deals