Bitcoin Price News: Today’s Top 5 BTC Prediction Forecasts from Leading Crypto Analysts

What's up ₿itcoin Family, here's the latest recap for the bitcoin price news today. We have scoured the internet to round up all of the best analysis and insights from the most respected leaders in the crypto community to bring you the most recent BTC predictions and forecasts.

Live Bitcoin (BTC) Price:

1 BTC/USD =$23,031.1969 change ~ -4.66%

Coin Market Cap

$440.28 Billion

24 Hour Volume

$10.83 Billion

24 Hour VWAP

$23.74 K

24 Hour Change


“BTC at $0 USD” Here's Why Most Crypto Analysts are Dead Wrong About the Future of Bitcoin…

A lot of our readers might have noticed that over the course of the past 12 months or so, a lot of analysts have declared the “crypto industry to be dead” or that “Bitcoin’s value will soon drop down to zero” in the coming few months.

While such statements primarily serve as clickbait titles to draw more views, we here at BitcoinExchangeGuide recently asked ourselves the question “Can the flagship cryptocoin actually lose all of its value by the end of this year?”

In this article, we will take a look at what the future might have in store for BTC and whether it is under any threat of hitting rock bottom anytime soon.

What Lies Beneath the Surface?

Whenever a “so-called expert” talks about Bitcoin running itself into the ground, one of the most common arguments given to back up this statement is that the premier crypto asset has lost over 70 percent of its value since the start of 2018.

In this regard, it is worth recalling that Stern School professor Nouriel Roubini took to Twitter last September to talk about the alt-asset market and how Bitcoin was an absolutely worthless investment.

While Roubini is quite correct when it comes to the cryptocurrency industry as a whole being in the midst of a massive bloodbath, it is worth remembering that the altcoin has recovered from similar circumstances many times over in the past. To put things into perspective, Bitcoin witnessed a correction of nearly 85% from it's all-time high of 2012. Following this, the asset asset fell by more than 87% after which it swiftly recovered and scaled up to a staggering price point of around USD $20,000 during the latter half of 2017.

Despite all of this historical data to back BTC up, Roubini has time and again gone on to slight the alt-currency— saying it is guaranteed to head into oblivion within the next 4-5 years.

More on the Matter

Another argument that is time and again invoked against Bitcoin is the fact that the currency has been created out of thin air and thus it does not have any real backing to sustain itself. On the issue, BCG Digital Founder ‘Jeff Schumacher’ was recently quoted as saying:

“I do believe [Bitcoin] will go to zero. I think it’s a great technology but I don’t believe it’s a currency. It’s not based on anything,”

However, if we were to level the playing field, we can quite clearly see that all currencies in existence today— be it fiat or crypto— are pretty much based on nothing more than the belief (of the masses) that they in fact possess some intrinsic worth, especially since the gold standard has long since been abolished.

Bitcoin Transcends the Limitations of Fiat

A quick look at the economic affairs of lesser developed nations across the globe shows us that countries like Venezuela and Zimbabwe have been ravaged by issues related to hyperinflation. As a result of this, more and more local residents within these nations have started to turn towards BTC as well as other cryptocurrencies so as to survive the dire financial conditions that have engulfed them.

At this point in the article, it is also worth pointing out that the core difference between Bitcoin and other state-based currencies is that BTC only rises in value because “people choose to use it and not because of the value of the goods and services its creators can offer to the world.”

Other Key Stats Worth Bearing in Mind

  • As per blockchain analytics firm Chainalysis, anywhere around 2.78 and 3.79 million BTC have been permanently lost or have become inaccessible for one reason or the other.
  • The lost coins represent a whopping 18 percent of the total network.
  • It is estimated that the number of lost BTC will only continue to increase as time passes due to factors such as faulty technology, untimely deaths of owners etc.

    On the subject of lost coins, Bitcoin’s pseudonymous creator ‘Satoshi Nakamoto’ wrote back in 2009.

    “Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”

Final Take

In closing out this piece, it should be clearly mentioned that in order for Bitcoin to crash and disappear completely, a lot of hedge funds, retail investors, startups, deep-web entrepreneurs (as well as a host of other entities that make use of the asset) will have to dump their holdings simultaneously— an event that is not likely to happen anytime soon.

Last but not least, we should also remind our readers that over the course of the past couple of years, the crypto market — particularly Bitcoin— has been declared “dead” more than 350 times.

Bitcoin (BTC) Sees Three-Month Low for Crypto Market Cap Dominance

Bitcoin has long held the dominance over the market with their total market cap, but the last three months have been relatively lackluster. Now, according to data collected by CoinMarketCap, the company is reaching their lowest point in the last three months. According to Crypto Briefing, this change could be a sign that investors are willing to get involved with riskier assets, demonstrating a new confidence in cryptocurrency with more of a bullish stance on where the market is headed.

Is It Altcoin Season Yet or is Crypto Winter Still Here?

On Friday morning, Bitcoin dipped below 51% dominance, gradually declining even more over the weekend, reaching 50.4% at one point on Saturday afternoon. Though the dominance picked back up, it still ended the weekend at 50.8%. At no time in the last three months has Bitcoin dropped below 51% until now. Back in August, this activity was similar, lasting for several bags instead of just hours.

In general, any digital asset is considered risky, but there are some digital currencies that hold a substantially higher risk. Bitcoin has long been lauded as one of the most reliable assets, considering how it is essentially the default currency for trading.

Typically, the dominance of Bitcoin rises when the market turns bearish, as traders go back to the original virtual currency. When the total value of cryptocurrency went from $20 billion to $600 billion in 2017, traders felt more confident in other cryptocurrencies, leading a drop from 87% to 38%. This change did not indicate that consumers were getting out of Bitcoin, but simply spreading their wealth elsewhere.

As the market capitalization of the industry moved down from $800 billion to $130 billion, Bitcoin dominance rose. The uncertainty that existed in the market was enough to push consumers back to the original cryptocurrency as a way to protect themselves form these changes. Low-quality projects did nothing to help the circumstances of altcoins, but Bitcoin started to thrive again.

Considering how low Bitcoin dominance is right now, it could mean that the industry is feeling more confident in the industry as a whole, as they look for more adventurous cryptocurrencies. According to a Telegram message received by CryptoBriefing, eToro senior market analyst Mati Greenspan said that the changing Bitcoin dominance is a good way to judge the current conditions of the market.

Still, the lowered dominance is not a bad sign for Bitcoin, if history is to teach the industry anything. Investors are continuing to get involved with other assets, and Bitcoin is still trading above the $4,000 threshold. Since April last year, active Bitcoin addresses have already increased by 44%.

Greenspan believes that the purpose of moving back into alternative digital currencies for investors is based on confidence. However, today’s investors are showing more concern over the best crypto assets to get involved in. It is much different than what the market went through in 2017, in that investors are paying closer attention to what they do with their funds.

Top Crypto Asset Experts Agree Bitcoin's Price and Economic Value Will Grow This Year

The cryptocurrency market as a whole, including investors and experts, is very excited about Bitcoin’s future. 2018 was not a good year for digital assets. Most of them lost between 80% and 90% of their value during that time and the sentiment in the space was very negative. However, Bitcoin could soon start growing again.

Will Bitcoin (BTC) Overall Market Value Grow in 2019?

Back in November 2018, Bitcoin Cash (BCH) forked and Bitcoin Satoshi Vision (BSV) was created. The market dropped when the hard fork took place, and this dragged virtual currencies to their lowest point in more than a year.

After this, the market started to recover. Bitcoin and other altcoins moved up and some of them even doubled in price after the hard fork. Now, there are several enthusiasts and investors that are very excited about the future of the space.

Thomas Lee, the co-founder of Fundstrat Global, says that there are macroeconomic trends that are going to underpin the next Bitcoin rally. For him, this bull market will start as soon as this year. According to him, last year’s surging dollar and uncertainty in the global markets have become headwinds for the crypto space.

One of the most important reasons why Bitcoin will start growing in the near future is due to the fact that blockchain and virtual currencies are becoming useful for larger players. For example, JP Morgan or Mizuho Bank are using distributed blockchain technology to improve their services. Another bank using blockchain technology is Santander, that has partnered with Ripple in order to process cross-border transactions in a fast and easy way.

Lee has also explained that turmoil in specific countries, such as Venezuela, is also helping Bitcoin grow. He explained that Bitcoin is expected to move higher in the future.

During the last few days, Bitcoin has been showing positive signals that the bear market could have reached an end. Bitcoin could continue to be traded sideways for some more time before it starts growing once again.

There are many things to take into account in the medium and long term for Bitcoin. Fidelity Investments and the Intercontinental Exchange (ICE) have been working in order to release crypto-platforms for institutional investors. This would allow a large number of investors that did not feel comfortable with the current infrastructure. The next year, the U.S. Securities and Exchange Commission could finally approve the first Bitcoin Exchange Traded Fund (ETF). This will also give access to the crypto market to traditional investors.

Is Bitcoin Price Related to the Number of Active Addresses in the Network? Inside CoinMetrics Data

Cryptocurrency investors and enthusiasts tend to take a look at the fundamentals behind Bitcoin (BTC) to understand how it could eventually behave in the future. One of the many different measurements that users usually analyze is the number of active addresses in the network. Indeed, it is possible to understand the activity behind Bitcoin’s blockchain and which were the moments in which the number of addresses moving funds grew or decreased.

Could Bitcoin Active Addresses Predict its Future Price?

According to data provided by BitInfoCharts regarding the number of active addresses, it is possible to see that since the beginning of the year, there are more users operating in the network.

Although in the short term it seems that the number of active addresses is not correlated to Bitcoin’s price, in the long term, these two graphics tend to converge, specifically during bull markets.

CoinMetrics shows that during bull markets, the number of active addresses skyrockets and follows the price of the most popular digital asset. During prolonged bear markets, the number of addresses grows at a slower pace but as soon as there is a price increase, it seems that traders and investors move their Bitcoins to profit from volatility.

According to BitInfoCharts, the number of active addresses at the beginning of the year was 472k. Now, this number has grown up to 643k, an increase of over 36 percent. During the same period of time, Bitcoin’s price has grown 7.9 percent. Thus, there is a much larger increase in usage than in the price of Bitcoin itself since the beginning of the year.

However, there is another measure to understand how Bitcoin is related to network activity. The TAAR, or transaction amount to active addresses ratio, appears to be drifting apart in the 30-day average chart. This shows that it is taken an opposed direction to how Bitcoin is moving.

Transaction volume on Bitcoin’s network could play a key role in helping users and investors understand how the network will perform.

At the time of writing this article, Bitcoin is being traded around $4,050 and it has a market capitalization of $71.27 billion. Bitcoin is currently the digital asset with the largest trading volume in the market ($9.68 billion).

Crypto Bulltard Analyst Shows Altcoins Could Soon Start a New Bull Market Breakout

The cryptocurrency analyst Livercoin has released a chart in which he shows that most of the altcoins in the market look very positive. He said that there was a breakout from accumulation and that we could soon see a new bull run among altcoins.

Livercoin Believes Altcoins Left the Bear Market Behind

During 2018, cryptocurrencies have been in a bear trend that affected their price. Most of them have lost between 80% and more than 95% of their value since their all-time highs. This shows that the sentiment in the space was very negative during 2018. However, due to the fact that Bitcoin had its first positive month since July and that different altcoins are starting to grow once again, the sentiment turned positive in the market.

Livercoin released a chart on Twitter in which he shows that altcoins have broken out from the accumulation period and that bears are in disbelief. If altcoins are able to remain as bullish as they are behaving in the last days, they might help the cryptocurrency market to leave the bear trend behind and start a new bull run.

The recognized trader and analyst The Crypto Dog has commented under the Tweet. He said that he “wants to believe” that this is really happening.

It is also possible to see that the topic “Altcoins” in Google Trends has also registered the highest level in almost a year. This shows that there is an increased interest in different digital assets that might not necessarily be Bitcoin (BTC).

Bitcoin has also behaved in a positive way during the last few months. The digital asset was able to escape the low $3,000 zone and reached $4,000. During the last days, Bitcoin operated in this region, showing that the $4,000 zone could now be support. Bitcoin should have to grow above $4,200 and sustain higher prices for a longer period of time to confirm we could be entering a new bull trend.

There are some digital assets such as Litecoin (LTC) or Binance Coin (BNB) that have more than doubled in price since they reached their lowest price in more than a year. Indeed, Litecoin reached $23 and now it is being traded close to $60. Meanwhile, Binance Coin was traded under $5 and now it has a price of $15.78 according to CoinMarketCap.

Weekly Bitcoin Price Prediction Analysis Recap:

There you have it folks, a daily round up from all of the top crypto analysts and community contributors who are analyzing charts and data research. Here is a recap of the latest bitcoin price analysis from the past week.

That's it #CryptoFam – let us know your feedback regarding today's bitcoin price action news and chart watching recap.

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