• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Nexo Logo

Analysts Watch for Crypto Decoupling, Stock Market Correlation, and $7K Bitcoin in 2019

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
Advertisement

At the end of 2018, the stock market tumbled, and leading cryptocurrencies such as Bitcoin fell through price support to reach new yearly lows, sending the crypto market into a depression state.

There’s hope at the end of the tunnel, concludes a team of analysts, whose average price prediction for Bitcoin puts the leading crypto by market cap at a just shy of $7,000 at the end of 2019. The analysts also point to two potential trends to “look out for in 2019.”

Bitcoin Bear Market To End, Price to Return to $7K Analysts Predict

Following Bitcoin’s parabolic advance in late 2017, the first ever crypto has been stuck in a downtrend throughout 2018 and into 2019. After repeat tests of critical support in the $6K area, Bitcoin fell through its seemingly unbreakable floor to new lows. Since then it has ping-ponged between a low of $3,150 and a local high around $4,200, dragging out the now record-length bear market.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

However, a team of six fintech experts believe that Bitcoin’s bear market will end this year, with an average price target of just under $7K – which would take its above previous support turned resistance in the $6K range.

Related Reading | Downtrend Confirmations Spell More Pain For Bitcoin, Where Will it Bottom?

One of the six analysts was particularly bullish on Bitcoin, whose price prediction helped inch the average closer to $7K. Digital Capital Management chief operating officer Ben Ritchie offered up a $9,500 price prediction on the leading crypto by market cap, suggesting that Bitcoin’s bearish woes may soon be over.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Despite the bullish prediction, Richie believes that crypto will have a “slow and steady rise in 2019” and is watching closely for two trends to emerge in the new year.

Analysts On the Look Out for Crypto Decoupling and Correlation with Traditional Markets

In addition to calling for a resurgence in Bitcoin price, the analysts are watching to see if cryptocurrencies like Ethereum, XRP and other altcoins begin to trend independently from Bitcoin, which commonly dictates the direction of the overall market.

“Two things to look out for in 2019 will be whether we will see decoupling of the cryptocurrencies, as to date they have trended in a relatively similar manner,” Ritchie said.

Bitcoin’s first-mover advantage, brand power, and sizable market cap all give it a leadership position in the space, which often leads to it controlling the overall price market trend regardless of the sentiment or trading activity of a specific crypto.

Related Reading | History May Signal That Bitcoin is Nearing a New Bull Cycle

“The second is the impact of the traditional markets on cryptocurrencies. Will bitcoin rise if the S&P drops,” Ritchie pondered.

Despite calling out the possibility of the markets correlating, Ritchie doesn’t think the markets will have the same participants, suggesting that institutional investors still aren’t yet ready to enter the crypto market.

“On-ramp and off-ramps to purchasing cryptocurrencies will improve in 2019 with Bakkt and Fidelity Group entering the market. However, I do not believe we will see many institutional investors enter for some time yet,” Ritchie said.

Tags: Ben RitchiebitcoincryptoDigital Capital ManagementStock Market
Tweet123Share225ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

Related Posts

Dogecoin

Dogecoin (DOGE) Could Use Some Lift – An Elon Musk Tweet, Perhaps?

6 hours ago
Cardano

Cardano (ADA) Looks To Recover After Sliding To $0.43 – Pressure’s On For The Bulls

7 hours ago
Crypto Hedge Fund 3 Arrows Capital (3AC) Files For Bankruptcy

Crypto Hedge Fund 3 Arrows Capital (3AC) Files For Bankruptcy

17 hours ago
Bitcoin

Can This Bitcoin Ratio Have Hints For A Bottom?

1 day ago
Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

2 days ago
World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

A LPL-like tournament in the GameFi circle, offering 500K USD in total prize: DracooMaster Champion Series 2022 unveiled

July 3, 2022

GRN (G) Gets Listed On XT.com

July 3, 2022

Fitmint Raises $1.6 Million to Power Up Move-to-Earn Revolution

July 3, 2022

Three Meme Tokens Making Big Strides This Year: Big Eyes (BIG), GM Wagmi (GM), and Dogelon Mars (ELON)

July 3, 2022

Xchange Monster (MXCH), bringing the GameFi Revolution Now

July 3, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.