$ 29,402.00 0.48%
$ 1,971.73 0.29%
$ 49.73 0.23%
$ 0.085150 1.11%
$ 8.00 2.33%
$ 1.34 1.09%
$ 0.000117 9.21%

What is the ideal price to buy Bitcoin in 2019?

BITCOIN e1572693663521

To no surprise, traders face a recurring question; what is the ideal price to buy Bitcoin in 2019? The king of cryptocurrency is Bitcoin (BTC) due to the sheer number of market capital makes the question all the more important.

According to the latest announcement, the first regulated Bitcoin fund available in the North American exchanges is now going to be released in Canada.

The Canadian-based firm 3iQ has received approval from the Ontario Securities Commission (OSC) to list ‘The Bitcoin Fund’ on the stock of exchange of Canada. This is anticipated to take place at the end of this year.

Although this is good news, however, the price movement of Bitcoin is somewhat confusing. A gradual decrease has been witnessed since the rapid upward movement of the 25th of October 2019.

What is the ideal price to buy Bitcoin?

According to a crypto-trader dubbed “Dave the wave,” the supposed ideal price to buy Bitcoin is at $6700. As per the analysis, the ideal buying price might be below $7000 or above $6000 marks.

Besides, the cryptocurrency trader also suggested averaging in, as it would be ideal. But what exactly are the concepts of averaging in an ideal price are, let’s dive a little deeper?

@davthewave employed a pitchfork for the creation of the descending channel and for determining the price movement in the future.

Bitcoin U.S D

The ideal zone of buying price falls within the premises of the lower space of the channel (blue). As it is in descending, so the ideal buying price will also decrease with time.

BTC U.S Dollars

While using the Volume profile indicator, the strongest buying area could be located close to $6500. A decline less than this can trigger a spontaneous decrease in the Bitcoin price.

Featured Image by

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

Related News

Hot Stories

Shiba Inu price analysis: SHIB devalues at $0.00001150 after bearish run
Verasity Price Prediction 2022-2031: Soon to hit $0.50 after Crypto.Com listing?
Ethereum wipes out $8.10B while eagerly awaiting 'The Merge'
Nox Bitcoin, a Brazilian crypto exchange, refunds customers UST at $1
Shiba Inu Price Prediction 2022-2030: Is SHIB Skyrocketing Soon?

Follow Us

Industry News

Nox Bitcoin, a Brazilian crypto exchange, refunds customers UST at $1
Ethereum founder confesses how he has been affected by the crypto crash
OpenSea launches Seaport NFT marketplace
President of Panama Refuses to Sign the Cryptocurrency Bill
Gabe Plotkin's hedge fund Melvin Capital shut its doors this week