Is Bitcoin getting ready to make its next strong move?

18 Feb, 2019 | Updated: 18 Feb, 2019
by Joeri Cant
Price Action
Is Bitcoin getting ready to make its next strong move?

As we approach the end of the weekend, most of the cryptocurrency markets have been showing sideways movement only, with a few coins being the exception. It didn't seem that today was going to be the day for BTC, however, one analyst is convinced that the number one crypto is getting ready for a strong move.

In a relatively slow day for most of the top 20 tokens, Ethereum was the one coin that bucked the trend, showing sudden gains of almost 12% in the past 24 hours.

Ethereum is currently trading at $137.67, with a market cap of $14.4 billion, which keeps it comfortably ahead of the number three cryptocurrency, XRP, with a lead of almost $2 billion.

Read more: 9 Ethereum price predictions for 2019 by crypto experts

Following the lead of Ethereum, the entire cryptocurrency market started to show sudden gains, pushing the total market cap up with $4 billion, to a total of $125.6 billion in a time span of just a few hours.

Bitcoin is now trading at $3,729.76, showing gains of 2.58% in the past 24 hours, according to coinmarketcap.com, while holding on to its market dominance of 52%.

Josh Rager, a crypto trader and investor and advisor to TokenBacon and Blackwave, took to Twitter to state that because of the low-volatility of Bitcoin, and the fact that the number one cryptocurrency has been moving slowly sideways, it likely getting ready for its 'next strong move.'

Rager also mentioned that Bitcoin has been working on its first green monthly candle since July 2018. Something Bitcoin seems to continue doing according to today's prices.

It remains to be seen if Bitcoin is getting ready to break out, and make its strong move.

Read more: What does Bill Gates have to say about Bitcoin?

Just recently Chepicap reported that Twitter user, Financial Survivalism, a Bitcoin supporter and self-proclaimed financial revolution prepper said that Bitcoin could easily drop down to $1,165 soon, but added that this would result in a massive spike, causing BTC to reach the $10,000 price point again.

He went on to talk about his bet that he made with another popular crypto trader Murad Mahmudov.

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