Late 2018 brought alot of forecasts about the price of Bitcoin in 2019, namely saying that the coin would reach $100,000 and beyond. The reality of 2019 was much more bearish than analysts’ forecasts.
In fact, crypto was quite sluggish heading into 2019, and remained so throughout most of the year compared to previos years where growth was often in the double and triple percentiles.
This means that the price of Bitcoin has stabilized. Rather than seeing a lot of volatility, the markets have shown a resiliency to pressures, and that they can remain constant.
This has actually helped more investors get into Bitcoin at a more affordable price.
According to a recent price chart captured from Coin Market Cap, Bitcoin price ranged from it’s current lower price point of $7,200 USD to $12,500 USD in July. The high point in July correlates to an overall average over a 4-year price period where it typically sails higher during the summer months than the colder winter months.
This may be due to seasonal pressures that we have seen in the past, and may offer some insights to an investment strategy moving into January 2020, where we may see the price start to recover on an upward bullish trend starting in February and climbing into July again, with the possibility of continuing on an upward trend into 2021.
Thanks, and have a happy holiday.
Questions or comments?