Cryptocurrency Market Outlook at Q4 2019

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We have entered the Q4 of 2019, which means this year is ending soon. The world economy has slowed down due to trade wars between the US and China, which leads to the Wall Street financial market downslope these recent months. The cryptocurrency market in 2019 has been bearish, but several peaks have been observed. Bitcoin, which is the ‘gold’ of the cryptocurrency sets the price of the overall market, as other altcoin prices usually move following Bitcoin price graphic. At the beginning of the year, the Bitcoin price started at  US$3,441.03. While Etherium, which is the second-largest cryptocurrency in the world based on market capitalization was traded at US$107.57i n January 2019. How do these crypto-assets perform and what is the cryptocurrency market outlook for Q4 2019?

Is Bitcoin the Gainer?

Goldman Sach claimed Bitcoin is the best performing asset of 2019, compared to other asset categories including stocks, bonds, and gold. Gold yielded 17% since Dec 31, 2018. S&P 500 stocks returned 21% and US Treasury Bonds only yielded 1.6% according to Coindesk

Bitcoin is the highest gainer this year, although the price volatility is there. The graph of the Bitcoin price is shown below:

bitcoin price graph


The price of Bitcoin at the beginning of January reached an all-time low since the Q4 of 2017 until today. Then it peaks to over US$10,000 in June but then goes back down to around US$ 8,000 in September. In October, the price of Bitcoin increased to level US$9,000 which is triggered by the Chinese government’s optimism towards blockchain technology where Xi Jinping, the president of China declared that blockchain technology will play an important role in the next industrial revolution. Since January ‘till this point, Bitcoin has gained over 150% yield and Etherium has returned 70% yield to its holders. It is a very high number compared to other asset categories, which makes cryptocurrency an alluring market for investors. 

When Does the Bearish Market End?

Experts have expected this bearish market to last until at least 2020. This time, the bearish market is long, but it will not last forever. Many people are using this opportunity to hoard Bitcoin and other altcoins at the lowest price. Bitcoin halving is coming soon in May 2020, making Bitcoin supply more scarce. The halving of Bitcoin has happened twice in history and each time it happened, Bitcoin price soared 10 times higher. Looking at what happened through historical data, this too might happen in the next halving.  

What to Expect in Q4 2019?

Although Bitcoin has a two-digit gain after Chairman Xi Jinping sounded his ambition to make China lead the blockchain industry, the bearish trend is still persistent. The price is expected to increase in the short-term trend, however, it will not move extremely from the current price. This condition might be disappointing for traders, but not so for token holders who stake. Staking is a good option during a bearish market where people can accumulate more coins and acquire coins at a discounted price. This is a sweet time to hoard coin, sit still and wait till bullish market arrives. 

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Note: We do not give any financial advice. Always conduct your own research before deciding which coin to invest in. 

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