Bitcoin Price Predictions 2019

Bitcoin Price Predictions 2019
Bitcoin (BTC) is yet to recover, and it’s still struggling to break over the $4,000 level. The digital currency recently broke below the key psychological levels of $6,000 and $5,000. The value of the coin is now eyeing the $3,000 mark.

Ethereum (ETH) traded close to the $1,500 in December last year. Ethereum is now trading below the $110 mark at the press time.

Here are some Bitcoin expert predictions about 2019:

As we head into 2019, Bitcoin has retraced that move and then some, with a recent breakdown below the $6,000 area, opening this next downside extension that targets a bigger drop towards the September 2017 low at $2,975.

While we wouldn't rule out a downside extension that takes Bitcoin through $2,000, we don’t believe the price will spend too much time below this barrier.

John McAfee predicted that Bitcoin price will hit $1 million by 2020 following last year’s prediction of $7000 which was well surpassed.

There are notable levels of support and resistance with support around the $2,850 level for Bitcoin and resistance around $4,000 therefore a break either below $2,850 or above $4,000 could lead to momentum in that direction.

We believe that Bitcoin will eventually shrug off the recent weakness during 2019 and expect the price to retest record highs of $20,000 by December 2019. This is justified on a number of fronts.

During the dotcom boom the price of Apple shares went from $1 to $4 before ‘collapsing’ to $1 again. It now trades at around $176 per share at time of writing, therefore anyone fearing the worst after the dotcom boom would have missed out whereas anyone
Previous Cryptreium research identified a Bitcoin support area in the range between $3,000 to $5,000.

Bitcoin is likely to reach a price of around $12,000, which will be an excellent result and can initiate a further growth in 2020.
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