Last week we held a vote to see how our community thought BTC would perform over the rest of the year. 37 of you voted: a small but adequate straw poll for our purposes.
With 100 days to go until 2019, the majority of people are expecting BTC to come out of its downtrend decisively; well over half believe the price will rise above its current level. The largest group, 29.7%, expect BTC to end the year in the $8,000–$10,000 range, with another 18.9% expecting $10,000–$12,000. (For the record, that's what we're expecting too - higher but no ATH just yet.)
But bitcoin has a way of surprising everyone, and an end-of-year rally isn't off the cards - it's how the bubbles of 2013 and 2017 topped out. (Looking back at last November and December, the bulk of the action took place in just five weeks, as BTC moved from the $5,000–$6,000 range up to almost $20,000 - tripling in price in the course of a month.)
But perhaps the best case scenario for the long term is the one the community expects: a solid but not stellar rise, paving the way for a renewed bull market in 2019 as the ETF is approved, Bakkt gets into its stride and institutional money can move in.
Red hot news, scorching wit and searing opinion pieces from Crypto Inferno.
Join us on
Telegram: https://t.me/crypto_inferno
Reddit: https://www.reddit.com/r/CryptoInferno/
Twitter: https://twitter.com/CryptoInferno_
Facebook: https://www.facebook.com/CryptoInferno/
Steemit: https://steemit.com/@crypto.inferno
