Bitcoin Poised to Break $14,000 and Head to an All Time High Price

$0.16 tipped


In an exciting day of trading, Bitcoin blew through it's $11,000 resistance-level, and is headed even higher.  Technical and macro factors are moving the king of cryptocurrency.  After a rise of more than 7% on Monday, Bitcoin is looking to break the next resistance-level at $14,000 and set all time highs due to technical and macro catalysts.  

Bitcoin's market dominance is currently at 67.5%, and it's taking the money from the altcoin market.  When Bitcoin's dominance exceeds 50%, there is a pattern of eventual rise.  At almost 70%, the money in the cryptocurrency altcoin market will be used as rocket fuel for Bitcoin's price.  The capital influx from the altcoins to Bitcoin is a catalyst in and of itself.  Remember to pick up some cheap altcoins as Bitcoin rises.  

The US and China trade war is becoming more volatile, and the stock markets around the world are reacting.  China is threating large US companies including Boeing and the steel industry, while the US has leveraged another round of tariffs.  Hong Kong riots and Chinese threats have made the stock markets swoon and have put traders into a defensive mode.  Bitcoin and gold have become strategic "safe haven" assets.  Adding fuel to the fire, the US Federal Reserve has cut the target interest rate, which it has not done since the 2008 financial crisis.  These macro economic factors have positioned Bitcoin as a yield-producing asset in the face of global instability.  

Bitcoin is less than a year from its rewards halving from 12.5 BTC/block to 6.25 BTC/block.  This is the catalyst that will push it's price higher, and has done so in the past.  The last halving was in February of 2016, that resulted in the 2017 bull market, pushing Bitcoin's price to $20,000 and the cryptocurrency marketcap to $850 billion.  

In the face of instability, rate increases and a rising Bitcoin dominance rate, I am buying Bitcoin and the top-10 altcoins.  Large institutions and main-street adoption are increasing their stake in the cryptocurrency market ahead of the rewards halving.  As hash-rates increase, Bitcoin looks increasingly attractive in a wild world.  

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Sources:  

Originally published in my Publish0x account I own at:

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Picture from Pixabay.  

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-market-update-btc-usd-14-000-bound-rocket-ship-takes-off-201908051237   https://www.fxstreet.com/cryptocurrencies/news/bitcoin-market-update-btc-usd-14-000-bound-rocket-ship-takes-off-201908051237


Wstanley224
Wstanley224

I am a writer, aerospace worker, cryprocurrency enthusiast and entrepreneur. I am a blogger and am eager to join this community. Join me on Minds: https://www.minds.com/register?referrer=Wstanley226


Introducing Myself on Publish0x-Wstanley224
Introducing Myself on Publish0x-Wstanley224

Hello Publish0x community! I am a blogger who is excited to join you. I enjoy writing about cryptocurrency, life, business and the financial industry. Join me on my journey, I am glad to be here.

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