DESPITE SLOW ACTION, BITCOIN PRICE UP 115 PERCENT SINCE DEC 18 LOWS

Posted 16 December, 2019

BTC ESCAPED CAPITULATION IN DECEMBER 2018

On December 15, 2018, BTC hit a low of around $ 3,200 after a long fall from peak prices at the end of 2017. After a year, the price of bitcoin looks better.

The price of bitcoins remains unpredictable and continues to decline this Sunday. The asset fell two times below $ 7,100, but even at this price, annual growth is around 114%. And the main difference in BTC performance is the volume history. Bitcoin almost stagnated, returning to volumes below $ 4 billion a day in December and January.

But after April, BTC is trading, and after it there is no significant slowdown. Since July, trading volumes are constantly approaching 10 billion US dollars or higher. Even after a slowdown in December and lower prices, trading in spot markets reached $ 17 billion a day.

Added to this are the main futures markets on CME and Bakkt, as well as volumes not reported, from innovative crypto-crypto exchanges.

But the biggest story is the activity seen on the blockchain. Bitcoin records a staggering record in 2019, including the transfer of more than $ 8.9 billion in just three blocks. Mining also exploded after the bear market ended, reaching levels reported at 120 quintillion hashes per second.

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BITCOIN PRICE STILL AWAY FROM ALL-TIME HIGHS

One of the predictions that Bitcoin failed to fulfill was a 90% market dominance. However, BTC occupies more than 66% of the total cryptocurrency market capitalization. This is not because of the weakness of bitcoins, but because altcoins are based on separate sources of liquidity. This time, the BTC only raised its dominance over several leading altcoins, leaving little speculative wealth to hesitate.

Last December, the price of bitcoin turned out to be in full surrender, as all network markers plummeted. However, in 2019, the encryption markets experienced a significant recovery.

Curious to see 2018 December 16th Bitcoin's Fear and Greed Index was 13 points, signaling extreme fear. Now traders are still experiencing "great fear" with a score of 21. But with $ 3,200, the price of bitcoin managed to reach annual highs above $ 13,800.

Expected that in the end of 2019 bitcoin will have another short-term drop in price, possibly at a low of $ 6,500. But the main coin is real evidence that surrender is not a likely scenario, and the BTC promises substantial growth potential.

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