Bitcoin’s price continues to slide especially after the waterfall decline since mid-November. Crypto investors get very concerned, sentiment is horrible. Readers keep on asking us when Bitcoin will stop falling, whether our Bitcoin price forecast for 2019 and 5 cryptocurrency predictions are still accurate. InvestingHaven’s research team strongly believes that Bitcoin will stop falling in the first months of 2019, this is why.
The short answer to the above question is ‘yes’. When it comes to our Bitcoin forecast of $24k though we will likely see this delayed with a year. So our 2019 forecast might be more applicable to 2020.
In the end if anyone can make a 6-fold return on its investment in one, two or three years, does it matter?
Yet we continue to see a high level of anxiety among crypto investors. As if the end of the world is near if Bitcoin does not stop its fall now, and starts rising tomorrow. That’s not how markets work, and they really do not care about what anyone of us thinks, believes, or wants.
Bitcoin Will Stop Falling Early 2019
All our 5 predictions outlined in the article mentioned in our intro are still accurate. Not any fundamental has changed, on the contrary. What we clearly see happening now is this period of ‘catharsis’, or, in other words, cleanup of scams and other irrelevant cryptocurrency projects. This simply takes time.
We clearly see the new channel on Bitcoin’s daily chart, and the good news is that the bottom is in sight.
Below is the channel which is the dominant trend.
We keep on getting messages from readers asking to assess whatever other forecast from other analysts that say that Bitcoin will go to $1k and lower. Almost everything we have seen so far was assessments based on previous dominant trends. Our point of view is that the bottom will be determined based on the current falling channel.
We assume that the 3d touch on support within the current channel will be the final bottom, we assume that the 3d touch on resistance will be the start of the new consolidation period that will likely span over 2019.
As shown below Bitcoin is now very close to a MAJOR bottom. That’s why we believe it is time to look into the strongest altcoins that will provide the leverage we want. As said in our article on Medium Bitcoin will have less upside potential than Ripple’s XRP (XRP) token.
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