The Bitcoin prices have offered positive returns in every quarter if you consider 2019. Last time this happened in 2017 and the prices almost touched $20,000 on the 17th of December. A lot of analysts are speculating if Bitcoin would repeat history this year as well. A lot of investors are again starting to invest in Bitcoins to see their money sore high as ever. Let us take a look at what happened till date and what might be expected in the near future.
Bitcoin has been all green this year in every quarter
Among all the turmoil and instability among world currencies, Bitcoin is inching quietly towards the price mark of $11,000. The positive trend is drawing investors and ensuring them of high returns. The quarterly run that Bitcoin is experiencing this year is very similar to what had happened 2 years back. Another fact that should be mentioned here is the ROI that has been generated in the 2nd quarter. Bitcoin has registered the highest returns in Q2 of 2019 in the 5-year timeline. To know more browse https://trustedbrokerz.com/trading-software/bitcoin-profit.
What are the chances of Bitcoin prices rising above $20,000?
A noted cryptocurrency trader and analyst, Josh Rager who has ridden the bull rally of Bitcoins makes very sound technical analysis. In his latest tweets, Josh related the current trend to the 2015-16 terms when Bitcoins jumped to about 2.5 times its bottom price. There was a span of sideways trading and after that, the trading increased by about 100% in its value.
He indirectly implied that Bitcoin would make that 100% surge this year as well. The price graph he suggested through his tweet shows similar growth patterns in both these times. Thus apart from the trend similarity of 2017, there is another technical perspective, which is making the case for Bitcoins stronger. There are high chances that the cryptocurrency would cross $20,000 mark this year.
However, Rager has also asked traders and investors to be patient and says the journey upwards might not be too easy. The market would go through some sideways movement as well. If the investors want to invest at such a critical moment, there should be proper optimism in the event of a crash. According to his opinion, things will turn out to be positive. The participants of the cryptocurrency market are expected to be thorough and diligent in their own research.
The monthly lows show the strength of the Bull Run
Industry observer Misir Mahmudov offered his expert views on the monthly low prices of Bitcoin this year. There has been a steady growth in the monthly low prices of Bitcoins in 2019. According to this theory, he says that the bull market will turn out to be a very strong one and unlike anything people have ever seen before. The current market also seems to have matured significantly and not a gambling mania likes 2017. The cryptocurrency is now a store of value in its development. This can be seen with a $10,000 price zone that has been existing for the past 2 months.
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