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How Will Bitcoin Price Finish 2018?

October 6, 2018 at 4:00 by Arathur Stephen

History shows that Bitcoin price has a long been bumpy, considering the volatility of this leading cryptocurrency. The speculative nature of the digital coin also has investors and traders wondering how it can finish the year.

Bitcoin investors usually can be divided into two groups – the optimistic Bitcoin investors and those, who are always selling their coins once BTC turns bearish. Which of the group do you belong in?

How will Bitcoin price finish 2018?

Bitcoin, the number one leading cryptocurrency today with the biggest market capitalization has reached its all-time high back in December 2017, when it hit around $19,000 for one BTC. Within that time, the currency lost a lot of its value, while now, Bitcoin’s price is standing at $6,594 as at 3:53 GMT.

Many investors are left wondering whether Bitcoin is still a profitable investment since the digital currency has lost a significant part of its gains. In order to find out, let’s look into some statistics.

Bitcoin value decline followed by rally

Bitcoin indeed has lost more than 50 percent of its value in 2018. Nevertheless, this is not the first time this is happening. Back in 2014, Bitcoin experienced even severe losses it has seen during this year, and cryptocurrency experts are still not certain about what has caused this movement.

The year 2015 also did not see an appreciable performance from cryptocurrency-pioneer’s side as well. As a matter of fact, Bitcoin’s price plummeted for the most part of 2015 and still managed to end the year at $430, which stood for a 35% gain of the whole year.

Historical price patterns of Bitcoin

It might be a little too early to hastily draw conclusions that there might be a repetitive pattern that Bitcoin’s price is following in some cases.

The year 2013 has been the year when Bitcoin’s price has seen the rapid progress. As we already mentioned in the preceding paragraphs, the following 2014 year brought remarkable dips into the lives of Bitcoin traders. Then, these price movements were followed by a relative price rally at the end of 2015.

BTC did not manage to reach the great levels of 2013 not until January 2017. Although Bitcoin had a stable start to the fourth quarter of the year, trading in a narrowing range, the virtual coin is still in recession. However, can traders and investors expect a repetition of the same scenario the markets saw back in 2014?

Will Bitcoin price end 2018 eventfully?

Bitcoin prices in 2018 have been marked by volatility which has made bitcoin price prediction in short-term difficult a bit even for the experienced analysts.

Yesterday, we reported the most remarkable development of the week, regarding Bitcoin price prediction that came from Mike Novogratz. The Fortress hedge-fund manager and current cryptocurrency investor is not as enthusiastic as he used to be. Novogratz said that Bitcoin price will not “breaks $9,000 this year.”

It should be noted, however, that he is not bearish in his predictions since he went on to say that the BTCUSD pair will rally above $10,000 by the end of the second quarter of 2019. However, the primary driver of crypto prices will come from institutional investors.

Another point worthy of note is that there is something that always happens in the market at the end of each year. Some of the most outstanding Bitcoin price gains emerged between November and January. It happened in 2013, 2015, 2016 and 2017.

If you have any questions and comments on Bitcoin today, use the form below to reply.

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