The 2019 Bull – Is the Bull Back?
Bitcoin’s value crossed the $5000 USD mark for the first time in 2019, helping drive the rest of the ‘alt’ coin market skywards. As expected,.
Bitcoin’s value crossed the $5000 USD mark for the first time in 2019, helping drive the rest of the ‘alt’ coin market skywards.
As expected, some traders and investors are hoping this could mean the start of a bull period. Bitcoin has been in a bear market since it’s lofty heights of late 2017 and early 2018. A lot of people who invested during the peak have been driven away from the industry and those that are still around have a steadfast belief in the technology and its future.
Those that believe in this blockchain future have been keeping a very close eye on the institutional movements of the finance sector and big business. Although a large amount of ‘mum and dad’ investors caught up in the hype of 2017 have left the scene for now, there has still been major discussion and interest from corporate entities.
Speculation is rife that this latest movement has stemmed from the entrance of a larger institutional investor or investors. An approximate 20% gain with a large volume is something that cannot be ignored; even for those that had written Bitcoin off.
We have seen an $18 billion US Dollars increase to the market cap in a very short space of time, with slow, promising growth in value and cap prior to the price spike. Due to the stable trading conditions prior to this, exciting times are ahead for Bitcoin and cryptocurrency in general.
Do you believe that this is the sign of a future bull market?
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated October 18, 2022