2019, could it be the return of bitcoin, bulls are already calling it

Bitcoin and following it many other digital coins like ETH, XRP, LTC and EOS have had a difficult run since hitting the all-time highs, bitcoin sinking from its peak near $20,000 per coin in late 2017 to its current trading price of less than $4,000. The CME bitcoin futures curve is up nearly 6 percent year to date but has also fallen significantly from the 2017 peak.

But now a new wave of calls for the BTC value and price to be exploded are being made and they may have a point.

Tom Lee — who in December valued bitcoin between $13,800 and $14,800 — says this year could bring about a comeback for the cryptocurrency, thanks to favorable macroeconomic trends.

“I think 2019′s a year about repair,” Lee said Thursday on CNBC’s “Futures Now.” “We have a risk-on rally in global markets that’s positive for bitcoin; it was a headwind last year. And the dollar isn’t surging like it was last year. That’s a headwind that’s gone away.”

“The real story is the fundamental one, that bitcoin’s becoming quite useful,” he said. “We’ve seen the launch of digital currencies by not only J.P. Morgan and Mizuho Bank, but also Facebook and some social media companies gearing up. And, of course, in places like Venezuela, where bitcoin’s become very large and widely used, turmoil is causing adoption growth. So I think these are really setting up for a strong … year. ”

Maybe a single positive trigger can light up the hopes of many and push the prices up, if not he highs of last year but somewhere around the $6000 to $10000 that were the main resistant lines not long time ago.

Bitcoin is the greatest stored value ever created, say Kerner

Lou Kerner of CryptoOracle discusses the plunge in cryptocurrencies and his belief that Bitcoin still has tremendous value.

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Bitcoin ,Bitcoin price ,BTC, bulls comment on Bitcoin, Crypto 2019, cryptocurrencies in 2019, etf, technology, XRP, eth, ltc

 

Mohsen Daemi
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