Cryptocurrency value

Bitcoin Price Explosion: $ 2,000 Gains Expected After Cryptocurrency Value Rises To 2019 High | The independent

Bitcoin’s spectacular price gains over the past 24 hours have prompted cryptocurrency experts to predict a shift in market sentiment among investors and traders.

A 20% increase in value to $ 5,082 (£ 3,900) on Tuesday morning came after months of stagnant prices for bitcoin and other major cryptocurrencies like Ethereum and Ripple.

Talk to The independent, several market analysts have suggested that this could signal more positive movement in the coming months.

“There is a growing feeling that bitcoin is back. I am now calling that the market has bottomed out and the so-called crypto winter has come to an end,” said Nigel Green, founder and CEO of the company. of financial advice from Vere Group.

“I think bitcoin will now rise over the next few weeks and months, making consistent gains for investors. As the largest cryptocurrency by market cap, this will positively impact prices in the larger sector. off the crypto … I think we could reasonably see the price of bitcoin hit $ 7,000 in the next few months. “

Other cryptocurrency experts have called for caution in the face of sudden price spikes, given the notorious price volatility associated with bitcoin.

“Bitcoin has once again shown its commercial resilience and potential to shed the ‘moderately bearish’ label some analysts assigned to it in early 2019,” said David Futter, fintech partner of the law firm. Ashurst.

“Nonetheless, substantial volatility persists in the crypto market in general, something that growing regulatory scrutiny by global governments is unlikely to mitigate at least in the near term.”

Bitcoin’s price spike on April 2, 2019, followed a month of weak market movement

(CoinMarketCap)

Bitcoin is currently trading at its highest value since November 2018, although it is still far from its high of $ 20,000 at the end of 2017.

After its incredible price explosion 18 months ago, bitcoin has experienced a sudden price collapse before months of steadily falling prices.

Bitcoin’s value has remained relatively stable in recent months, making its sudden rise in price all the more noticeable.

It is not yet clear exactly what caused the market reversal, but it comes as several large tech companies take steps to develop their own cryptocurrency or integrate bitcoin into their existing platforms.

“Bitcoin could be on the verge of a more significant comeback,” said Joel Kruger, currency strategist at LMAX Exchange.

“At a time when central banks have run out with unprecedented printing of money to keep sentiment high and the global economy afloat, more than a decade after the 2008 crisis, this would appear to be a decentralized peer-to-peer currency. to-peer, with a limited supply and an attractive technology on which it relies, could be a compelling alternative option. “


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