For cryptocurrency investors, the so-predicted rising moment has come, not only for bitcoin but for all subsequent cryptocurrencies
Predictions start to come true
Beyond predictions made by experts or the desires of the confident bitcoin supporters, the increase in the bitcoin price is today a reality. After a disastrous year 2018 and a not-so-good start in 2019, the most belovedand most hated crypto-asset returned to demonstrate why it inspires so many confronting opinions.
During the past month, the price of Bitcoin has advanced at a great speed to the point of leaving the rest of the cryptocurrencies behind. During this year’s first trimester, the cryptocurrency market value started increasing slightly. At the beginning of April, its value skyrocketed over the USD$4,000, in May the value kept ascending until reaching the USD$5,000, and to this day its price has surpassed the USD$12,000.
For cryptocurrency investors, the so-predicted rising moment has come, not only for bitcoin, but for all subsequent cryptocurrencies, so this makes the skeptic ones wonder how secure are the cryptocurrency projections of ups and downs so the belief of the followersremains so firm.
Bitcoin behaves like any other asset
Bitcoin is the most popular cryptocurrency of all, and it can be an investment as safe as gold for many, an asset subject to supply and demand, definitely a very profitable option when you want to have a long-term capital stock.
Seeing that bitcoin doubled its value at the beginning of May, it’s inevitable to remember the same bubble effect of the year 2017, where its quotation exceeded by far that of the other altcoins, this may represent the moment to recover profits for all those whosaw their investments affectedwith the falls presented during the year.
To date, bitcoin reached USD$ 12,000 dollars, which hadn’t happened since January 2018 when its fall began. And the thing is, this is a tendency of crypto-assets, especially one as popular as BTC, as this sets its behavior patterns quite clear, which are very similar to those of any common asset, periods of increase followed by periods of decline, to then slowly recover again.
The influence of the next “halving” and the Libra announcement
For many experts, behind the growing price of Bitcoin is the announcement of Libra, Facebook’s cryptocurrency, and its offer of a universal digital payment, this is a widely supported project, which also shows the viability of the cryptocurrencies as a payment method, which has madepeople look at these digital assets again, especially bitcoin.
Additionally, we must keep in mind that bitcoin’s next “halving” is announced to be in mid 2020, certainly the cryptocurrency will show a scarcity tendency, which will make many investorsrush to purchase Librabefore its price skyrockets to unreachable levels for many.
This long-awaited rebound of Bitcoin has caused a great commotion in the crypto community, and many are rushing to make predictions about how it will behave during the next few months. For the expert analysts Simons Peters from eToro, bitcoin’s value will surely reach its historic maximum of 2017USD$20,000 in the next two weeks, and it’s quite probable thatby the end of this yearitreaches USD$50,000 and perhaps goes up to USD$100,000.
This is just a small sample of how digital assets, especially Bitcoin, arrived to transform the economy, transactions, and finances radically, this is one more reason not to miss anything of what happens daily in this digital ecosystem.
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