Bitcoin has been exhibiting reluctant growth for the past few days. BTC drastically drops its market value, raising the possibility of losing its most important support levels. The bearish effect brought the digital currency below $10,000 support level.
This gave some traders and investors hope of waiting to buy the dip, with the expectation of seeing BTC below $9,000. However, Josh Rager, a popular crypto analyst has recently played down such hope, pointing that Bitcoin would see new yearly price highs before the end of 2019.
Bitcoin price had in the past few days embarked on its routine downtrend. It had crashed below 5-digit price level for a number of times within the last two months. As these fluctuations play out, some cryptocurrency pundits, traders and investors began to see possibility of BTC plummeting farther below so as to give room for accumulation.
Those who hold Bitcoin when it was trading above $11,000 exhibit regret since no one is sure of more drops BTC would experience before price resurgence. Howbeit, the high volatility of the digital currency gives room for devastating price drop and significant uptrend anytime.
To be factual, Bitcoin has utilized the constant price fluctuation to strengthen its market dominance. BTC is an inch to dominating all other cryptocurrencies in the sphere by 70%, a trend that could advance to a notable extent.
Bitcoin’s Present Situation in the Market
Bitcoin is gradually regaining its stability in the market. The digital currency might soon embark on fresh parabolic movement as usual. At the time of filing this report, BTC is trading at $10,427.18, with about 4% price upsurge in the last 24 hours.
Other top cryptocurrencies are beginning to replicate the present price resurgence. The market is now turning green, which indicates price gains, led by the king of coins, Bitcoin.
Josh Rager Sees New Price Highs for Bitcoin before the End of 2019
Josh Rager, a popular cryptocurrency analyst that deals mostly on short term price prediction of digital currencies, especially Bitcoin, has recently pointed out the possibility of BTC attaining new price highs before the end of 2019.
According to Rager, many investors and traders in the crypto space are somewhat regretting that they accumulated Bitcoin in numbers when it was trading above $11,000. He however noted that such feeling would soon be a thing of the past.
He sentimentally concluded that Bitcoin would eventually test new yearly highs before the end of 2019.
“You may feel silly for buying Bitcoin above $11k But that feeling will soon fade The only ppl who will feel silly are the ones with empty bags still waiting to buy “the bottom”… IMO, Bitcoin hits new yearly highs before the end of 2019. Stay encouraged, patience is key”
