Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
With Bitcoin struggling to make it past the $13,000 mark after a few attempts; dropping back towards $10,000 and trading sideways; and now falling sharply below $9,500, it would be easy to get despondent in the current market and call this a bearish turn.
However, there is still some positivity coming from well-known Bitcoin maximalists, such as founder of merchant bank Galaxy Digital, Mike Novogratz. He has called for a bit of a wider view of the overall Bitcoin market in the past nine or so months, reminding many that Bitcoin already has had a rather impressive rally - albeit spread out over a longer period of time than may be used to.
Novogratz, speaking on Bloomberg TV, was at pains to remind people that Bitcoin was still up over 200 percent this year alone, and that it came into 2019 priced at a low of $3,500 - now it sits just under $10,000; still very good returns on any kind of asset.
Novogratz now believes instead of calling these last few weeks of poor market performance a return to a bear market, it would be much more apt to describe it as consolidation as Bitcoin - still quite volatile but working on longer frames - is cooling off after a sustained rally.
It is always easy to look at the Bitcoin chart and note it has lost seven percent over the last 24 hours, however, Novogratz has tried to remind people that in the bigger picture, this latest drop is insignificant.
“Bitcoin started the year at $3,800, traded at $3,500 and now it’s at $10,200 and so it’s up 200% odd percent already,” he told Bloomberg. “It has had a huge run, and so I think this is a bit of consolidation.”
There have been a number of macroeconomic factors that could be considered when looking at Bitcoin over the last year, and determining the reason for its price rise. It has clearly broken the shackles of the 2018 bear market, and looks to have emerged a slightly different asset for it.
Bitcoin’s growth to the $10,000 mark, for instance, was not characterised by daily $1,000 gains, as was seen in 2017 when speculators flooded the market - this time it was far more measured, and controlled, and probably predicated on institutional involvement.
There were even some who were starting to legitimize Bitcoin so much as to call it an alternative safe haven asset in a time where a global recession looks to be looming. Bitcoin started to rise when news emerged of Federal Rate Cuts in the US, a trade war with China, and the printing of money and new monetary policy from the European Central Bank. This argument is still up for debate, but it does show that investors are starting to see Bitcoin as something far more tangible and attainable, rather than purely speculative as was the case less than two years ago.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
2 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
2 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
2 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
2 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Mike Novogratz Looks at Bigger Picture: Bitcoin in Consolidation Now
With Bitcoin struggling to make it past the $13,000 mark after a few attempts; dropping back...
How do I buy altcoins?
Cryptocurrencies offer various ways of generating wealth. There are more than 6,000...
Tim Draper Gets Bolder on his $250,000 by 2022 Bitcoin Prediction
Bitcoin predictions have become part and parcel of the cryptocurrency ecosystem with...
China's Central Bank Ready to Ban Cryptos Issuance
Another day another China crypto-related ban. China has never hesitated to ban cryptos before....
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)