Bitcoin (BTC) News – Is the Bitcoin (BTC) bear market about to end?

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The year 2018 has been disastrous for Bitcoin (BTC). The Bitcoin price has fallen from nearly $ 20,000-$ 3600 currently. The price of Bitcoin intermittently had gone to $ 3200 as well. When you look at the Bitcoin price history, such down moves have happened in the past as well. The question which remains is whether Bitcoin (BTC) bear market is about to end or not.

Is the Bitcoin (BTC) bear market about to end?

When you look at the recent Bitcoin price history of the past month, you will realize that it has bounced back twice from $ 3200. It is an indication that there might be a bottom for BTC around these levels. The only problem is that the present Bitcoin value is not profitable for the miners. Therefore, sooner than later there will be a downfall in the number of Bitcoin miners which will result in the entire blockchain getting impacted.

Bitcoin price today is around $ 3600. It had risen all the way to $ 4000. It has retracted partially from those levels. The bear market can only end if it can sustain above $ 3000. When it comes to Bitcoin (BTC) mining, that can only be profitable when Bitcoin worth exceeds of $ 4500. Thus, a lot will also be dependent on this level. If it can cross these levels, the Bitcoin mining activity will increase significantly. It has the potential to once again usher in a bull market in Bitcoin (BTC).

Technically, as long as it remains of over $ 3200 and can honor the support, Bitcoin price can increase. However, if it breaks this level, the bear market will resume once again. It has recovered more than 20% from the bottom which indicates that it might be nearing the end of the bear market. It is the time that you keep a watch on Bitcoin (BTC) to buy Bitcoin at the right levels.

At the same point in time, once the bear market trends, Bitcoin value will not increase impulsively. It might consolidate around the bottom levels for an extended period before moving back to above $ 5000. Thus, it will not be a swift rise but a more gradual and time-consuming one. Thus, while the Bitcoin (BTC) bear market might be ending but it will take time for Bitcoin (BTC) to rise once again.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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