2019 is proving to be a recovery year for Bitcoin. After the bear market in 2018, the progress made in 2019 has recovered almost all that was lost during the bear market.

Now, 2019 may also be the game-changing year, where Bitcoin sets up a foundation to achieve new highs.

Encouraging Higher Lows

Bitcoin lows are in, and they are quite encouraging.

$BTC – I remain long the breakout back on Oct 25th and otherwise sitting on my hands watching others get chopped on shorter time-frames.

Overall, I believe the lows are in and the consolidation from the June 25th top is over. We will know soon enough. pic.twitter.com/rIWxQYozeA

— Bob Loukas (@BobLoukas) November 5, 2019

Following the trend on Bitcoin’s lows, Bitcoin may break $10,000 before the end of the year. This may be the stepping stone towards more significant highs in 2020.

Once Bitcoin breaks the stubborn $9,500 barrier, $10,000 will be inevitable by the end of the year.

Subtle Chopping

The losses and gains in the Bitcoin market are subtly removing short-term traders from the Bitcoin ecosystem. Traders in for the long are buying Bitcoin on the “low” in anticipation for the meteoric rise that seems inevitable.

$BTC – I remain long the breakout back on Oct 25th and otherwise sitting on my hands watching others get chopped on shorter time-frames.

Overall, I believe the lows are in and the consolidation from the June 25th top is over. We will know soon enough. pic.twitter.com/rIWxQYozeA

— Bob Loukas (@BobLoukas) November 5, 2019

Traders like Bob Loukas represent the growing majority of Bitcoin owners who are buying to hold or holding whatever they already have.

Bitcoin may be preparing to enter a new wave after the recovery it made this year. Supporting this wave are factors such as the growing popularity of Bitcoin and other blockchain-related technologies.

Anticipating The Halving

The growing demand for Bitcoin will drive Bitcoin sales higher as the planned halving is set to reduce the production of the cryptocurrency.

In as much as miners are trying to compensate for the future decline in Bitcoin production, the demand will forever outweigh the supply of Bitcoin.

Featured Image Source: 1Zoom.me