Over the past couple of days, the crypto market seems to be stable at around $114 billion as BTC’s price also stabilized at $3,500 according to the crypto analysis we are sharing with you in out bitcoin news today.
Other analysts are expecting for Bitcoin to rebound further than $4,000 but the number one cryptocurrency seems to be having a hard time showing signs of short-term recovery and has lived through three months of continuing sell-offs.
The crypto trader ‘’The Crypto Dog’’ says he believes that the market has reached the final phase of the bear market and that we should expect for the market to reach lower levels. He also says he isn’t surprised if BTC reaches $1,800:
“$1800 BTC and $50 ETH wouldn’t surprise me. I don’t know for any certainty we’ll see those prices, nor do I mind if we reach them or not. If you’re in BTC for the long haul, DCA. If you’re learning to trade, just survive. Keep your risk low, gains will be easier someday.’’
Other traders think that there is a huge possibility of BTC dropping below $1,200 but if we take a look at the technical and fundamental factors, a drop by 65 percent is highly unlikely. Some of the potential catalysts for the rebounding of the market include the possibility of institutional investors entering the market later in 2019 and prevent BTC from falling down further.
Bitcoin has experienced long bear markets before and some analysts think that it will take over 10 years for Bitcoin to rebound to $20,000.
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