Bitcoin News : BTC May Not Cross All Time High in 2019
Bitcoin the leading cryptocurrency of the digital world is expected not to exceed the all-time high figure that is $20,000 this year.
The highest mark that BTC has been able to touch in the year 2019 is $13,796. The crypto market is hoping for the coin to get over the all-time high $20,000. But some of the research firms are not expecting this.
Prediction of Skew research Firm
A market research firm named Skew has claimed that there is less possibility that Bitcoin can go high from the figure of $20,000.
According to Skew, the chance of all-time high trade for the cryptocurrency is also only 7%. And this probability is continuously decreasing.
Month of October for Bitcoin
The firm has also pointed out that the month of October may prove important for the token. Because in October 2019, the US Securities and Exchange Commission will review the ETF apps of BTC. SEC will make the decision regarding the ETFs this month and this can help the coin to increase its price if these ETFs get the decision in their favor.
Performance of Bitcoin
Since the launch of the coin in 2009, the highest trademark that is covered by the token is $20,000. After that, it did not cross this figure. In 2019, when it jumped to the mark of $13,796 in the month of June, the crypto community started to think that the coin might hit $20,000 this year.
From the past few month’s performance of Bitcoin has not been so effective as the value of the coin came down at $10,000 in the same month it surged. The current value of BTC at the time of writing is standing at $9,601.89 USD.
Bakkt might lift up BTC’s Price
Bakkt can be helpful for Bitcoin as Bakkt is now providing custodial service for its customers and has declared that from 6th Dec 2019, its custodial platform would be available on which customers can store their Bitcoins. This custodial service will attract investors’ attention and as a result, the coin could go over $20,000.
Apart from this, the Portuguese Tax Authority has decided not to impose the taxes on the payments and transactions of Bitcoin. Changpeng Zhao has said that the involvement of Portugal would attract the attention of those countries who want to ban Bitcoin.
The founder of McAfee, John McAfee seems optimistic about the price of the coin and says:
Bitcoin under $9,500. If you are panicking, you are a fool.
It was predicted by the exponent of Bitcoin that the coin might hit $1 million next year.
Conclusion
Bitcoin has very low probability of getting over the all-time high $20,000 this year. Some of the crypto experts think that it might achieve that milestone but from the past few months performance of Bitcoin, we can say that it has got fewer chances of doing it.
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