2018 hasn’t been a promising year for Bitcoin. At this time the Bitcoin Price has fallen by 65 percent from its peak of $19,500. Since September, the price of BTC bounces between $6,200 and $6,700. Why is Bitcoin declining while other cryptocurrencies boost and take stable positions on the market? To answer this question, we need to consider a few reasons:
However, the top financial experts still believe in the potential of Bitcoin. Thus, on September 22, the billionaire Mike Novogratz pointed out $6,800 and $8,800 as significant resistance levels for BTC in the short-term perspective. He specified that if Bitcoin price USD prevailed the point of $6,800 it would enter a new wave of $7,000. Novogratz believes this will happen by the beginning of the next year. Other experts are less favorable towards Bitcoin's price, but they agree that its long-term trend is bullish.
The bitcoin real-time price chart above describes the latest price trend. Nowadays BTC is down by 0.16 percent at $6,424. The number of trades per day sets the point of $4.3 billion
The Directional Movement Index (DMI) enables experts to suppose that the BTC has entered the bullish phase. Mike Novogratz believes that as soon as Bitcoin Price nears the new price wave, it will cost up to $10,000. According to his prediction, it will happen by the end of the first quarter of 2019.
Bitcoin price today fluctuates within $6,403 - $6,453. Today's high and low scores are $6,466.51 and $6,402.40. The market cap reaches $0.112T and the amount of supply is 17,363,025.
Nowadays the prevailing number of investors expect the current period of calm to continue up to the next year. The opinions toward the Novogratz prediction have divided, but experts agree that it is of a low probability. Some of them believe that the BTC’s ability to reach $10,000 is of 19 percent probability, while others evaluate it as highly as 27 percent.
Bitcoin gold price is similarly promising. It has come down to the point of $30.89 USD, and we observed the most stable period in the history of Bitcoin Gold. The currency didn’t fluctuate and kept reaching the minimum price. However, on November 4, the situation suddenly changed. The price escalated from $26.9 up to $29.07. Today its price is $30.89, and it has grown 4% since the last week. The market capitalization is $534,584,258 with the trade volume of $6,521,457. Thus, Bitcoin gold is a perspective crypto coin, and experts predict its solid growth in the future. But even if you are not interested in long-term investments, the current situation makes BTG attractive for investors who want to take advantage of the price fluctuation.
The three main reasons for Bitcoin's decline are stability and cooperation of Ripple and Ethereum, and investors taking advantage of high-risk trades to boost their profits. Even though other cryptocurrencies are in a more advantageous position, the experts' forecasts are mixed in terms of BTC’s ability to enter the bullish period and its price growth next year.
When it comes to Bitcoin Gold, it has strengthened its position recently and keeps growing. It is considered to be a perspective coin to invest. Although it was a tough year for BTC and BTG, the next year is promising, so if you are looking for a coin to invest in the long run, these two are definitely worth considering.