The previous day scenario remains for today, the price is flattening-out along the $ 3700 level after the Monday fall. Nonetheless, the $ 3700 level still shows it’s supportive character by actively holding the price above itself. There is not much news and happenings due to upcoming holidays, so we do not expect any strong movements in the nearest week. So, BTCUSD will probably stick to $ 3500 - $ 3700, only breaching below $ 3500 could lead to more active downward movements; and will be bound by the psychological $ 4000 and past peak $ 4300 from above.
Trading Bounds: $ 3500 – $ 4000.
- Year-Ahead Predictions 2019
Next year, the Bitcoin dominance index will be 66%, and the cryptocurrency market will move to the stage of maturation and consolidation. In addition, the international financial system must adopt Bitcoin in order for it to survive. This assumption was put forward by analysts from research firm A.T. Kearney in the Predictions for 2019 report.
The researchers also suggested that in the coming year, financial regulators will soften their position on the crypto industry. The report says that the treasury committee of the British parliament wants to put an end to the “Wild West” on the cryptocurrency market. That is why in 2019, the regulator will develop solutions to combat industry crime and reduce price .
At the same time, analysts say, the US Securities and Exchange Commission (SEC) will take a positive decision regarding Bitcoin and continue to work to increase market transparency.
“Ironically, for the cryptocurrency, the only viable way forward is acceptance by the international financial system, which Bitcoin once sought to win. Realizing this, in 2019 the newly created Blockchain Association will begin lobbying American politicians in order to improve the image of cryptocurrencies, ” - A.T. Kearney.