Bitcoin started the year on an all time high, trading at $19,665.39 USD.
Since then the cryptocurrency has fallen fast and fallen hard. The entire market has crashed hard towards the end of the year.
Amidst all the confusion that is currently raging in the market, all the cryptocurrencies are in the red.
Most pessimists and skeptics have already jumped on the told-you-so bandwagon and are condescendingly claiming that the bubble has burst. But has it really?
Market View: Real Time
Currently the market is majorly bearish with all the top 10 cryptocurrencies seeing red. Very few of the cryptos are seeing gains, and those who are, are gaining very slightly. Not enough for us to claim that the market will recover anytime soon.
Bitcoin is trading at a dismal price compared to its erstwhile glory back when the year began.
Is 2019 Going To Be Bitcoin’s Year?
Well it is quite hard to say if this year will be Bitcoin’s year at the moment.
Many believe that the disillusionment with cryptocurrencies has already set in and the possibility of the market recovering seems like a long shot.
However, some are of the opinion that the cryptocurrency could have a miraculous recovery in the year to come, if the market as a whole can put past its period of slump.
As interest in cryptocurrencies are on the rise, it seems more likely that the industry is not shutting down anytime soon. Investors are looking to invest in new and promising projects in the coming year and this is expected to drive up the price of the various top cryptocurrencies.
Bitcoin being the first use case of blockchain technology, is the first ever digital currency that was launched in the market.
It is expected to maintain its position on the top of the ladder for a while now. Chances of being dethroned seem next to none. However, it’s price prediction is slightly difficult to call at the moment.