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Bitcoin at $3560: Why you shouldn’t miss the opportunity to buy BTC now?

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Some of the points indicating bitcoin at around $3560, why shouldn’t you miss the opportunity to get it now. Let us have a glance at these points.

The Bitcoin industry performed nothing less than wonder in 2017. But, 2018 proved to be a troubling one for this industry. The market faced a severe value down in the year. The price in Dec 2017, it was $19783 while today it is at just around $3560. The down value percentage is around 82%! Now, due to this breakdown, the existence of bitcoin has been doubted by some of the traders. However, there are many positive things if focussed on, lead to conclude that it is the best time to get bitcoin.

This article explains some of the points indicating bitcoin at around $3560, why shouldn’t you miss the opportunity to get it now. Let us have a glance at these points:

 

1.  Botton Level of BTC:

No one in Dec 2017 would have thought that the price of bitcoin can go to such lower depth. Certainly, the value of bitcoin is at its bottom and if viewed in perspective of positive business mind, this is the right time to buy it. Profitable business has one simple fundamental: Buy when the price is the lowest, and sell when it is at its highest. The price of bitcoin is undoubtedly at its lowest level and this is the time to buy it. Since, there is a lot of trade analyst who is also predicting that 2019 is the year for bitcoin, just buy it today, preserve it and sell it when the price once again is at its peak. Suppose you buy bitcoins of worth around $10000, and if it is assumed that even it reached its previous high in some later point of time, the same net worth will be around $60000, i.e. around 600% profit! Isn’t it amazing?

 

2. Expected Rise in future:

A lot of factors are leading us to thin about unexpected rise of bitcoin in the future. The current technologies, legal, and market are days by day changing and promise to be on the positive side of bitcoin.

  • One of the major reason of fall of bitcoin was scalability. The speed was restricted to just a few transactions per second. Now after the idea of BTC LN or Bitcoin Lightning Network, the issue of scalability is assumed to be removed. And if the bottleneck is removed, then surely it will help in the rise of bitcoin.

 

  • Another reason to expect rise is the evolution of Bakkt, an exchange provided by ICE and supported by Microsoft Azure. This is in continuation to provide seamless, efficient and trustful transaction of BTC along with the conversion of BTC to normal financial currency. If Bakkt becomes successful then undoubtedly use and importance of bitcoin will enhance.

 

  • Entry of institutional money into the crypto industry: The institutional money is all set to enter into crypto space and if it happens then it can ignite the downed bitcoin industry to the desired position. The entry of this money will lead to more and more investments in this space and eventually, it would regain its old position or maybe better than that.

 

  • Many new countries are modifying and making new legal regulations about bitcoin, thus welcoming the crypto space. This will lead to attracting more and more investment to this country which is a positive sign for rising of bitcoin in the future.

 

3. Bitcoin Halvening in 2020:

Bitcoin has planned the third halvening in 2020. The halvening even occurs  in two conditions:

  • Every 4 years or,
  • After 210,000 blocks have been mined.

 

The halvening event has been always historical for bitcoin. Bitcoin halvening have been occurred two times in history, firstly in 2012 and then in 2016. The third bitcoin halvening is scheduled in 2020. When first-time bitcoin halvening happened in 2012, in the next year bitcoin rose to that time highest value of $1,000. Again, the second halvening occurred in 2016, and the result of halvening was same. In 2017, the bitcoin rose to all-time highest to $19783.

The third bitcoin halvening is supposed to happen in 2020. If the predictions of halvening continued as earlier, then again bitcoin will reach a respectable position. And in that case, the price of bitcoin will again rise. Since the price of bitcoin is at the bottom level right now and if it is assumed that the magic of bitcoin halvening is again going to strike in 2020, it is the best time to buy it.

 

4. Mass adoption of bitcoin:

Although the crypto space is on it every time low, still the major contribution in the space is of bitcoin. It still occupies about half of the total of the crypto market. Bitcoin is still the oldest, the most valuable and relevant cryptocurrency. Various stores have started accepting bitcoin from their customers. For example- Starbucks has started accepting bitcoin from its customers for morning breakfast at some of its centers.

Since the end of crypto space is impossible right now and even though, bitcoin has lost around 82% of its all-time highest value, the fact can’t be ignored that bitcoin has a secure future.

 

There are several other factors which indicate that it is the best time for buying bitcoin. Although there are several factors which may affect the future of bitcoin for sure, the above factors assure that Bitcoin at $3560, why shouldn’t you miss the opportunity to get it now?.

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Alert: CME Bitcoin Futures Experiencing Record Breaking Volumes

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These days saw the highest and rapid increase ever for Bitcoin futures on the Chicago Mercantile Exchange as the amount exceeded 18,000. Institutional investors are paying attention to this as the bitcoin future contracts get snapped up at an ever-increasing rate.

 

Record of BTC Contract Size on CME:

As per the stats of CME they were 18,338 on Wednesday, which is the highest figure ever recorded till now. This is equivalent to 91,690 Bitcoins or roughly $365 million at today’s prices.

cme-futures-trading-volume

Upcoming contracts enable explorers to bet on the prices rather than to purchase the physical assets. So these figures might be a little misleading.

 

When the new product which offers the physically settled contracts hit the market, they will be paying out in BTC which will drive tremendous momentum for crypto markets. Over the past year or so the expectation of a crypto Exchange Traded Fund (ETF) being launched has been telecasted and dominated the news. The year 2018, has been the year of regulation and cooling off which was only to be expected after the previous year of rampant FOMO and parabolic market action.

 

This year 2019, is expected to be different as many industry experts predict the launch of at least one institutional investment vehicle.

 

As per the Block European exchange giant, Eurex is preparing to launch crypto and bitcoin futures so the list of institutional offerings is increasing rapidly. The cognate exchange is operated by Germany’s Deutsche Börse, which will be offering Bitcoin, Ethereum and XRP imminently according to the report.

 

Exchange traded funds are the future:

In addition to these future products, there is already one type of Exchange Traded Funds that are actually traded through an ETN (exchange-traded note) which allows investors to get direct exposure to Bitcoin prices. The Grayscale Bitcoin Trust (GBTC) crosses the technicalities of buying and storing Bitcoin but still allows investors to get into the action by buying shares that trade at around a thousandth of the price of BTC.

 

GBTC has been highly popular with over $800 million which is already invested in the Bitcoin fund.

 

Furthermore, Bitcoin is the most popular. The fund eliminates the volatility of buying and owning Bitcoin directly which is something that institutions want.

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Elon Musk: Cryptocurrency is the future, Paper Currency going to end.

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CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin.

Enthusiastic towards cryptocurrency also the CEO of Tesla, Elon Musk, stated that the Day is not far when the paper currency will fade away and shall be replaced by the Bitcoin. Which clearly means Musk is in favor of the decentralized currency ( also known as cryptocurrency).

 

In one of the episodes of ‘On The Road To Full Autonomy With Elon Musk, which is hosted by Tasha Keeney, the CEO spoke and discussed the developments that Tesla shall undergo and also spoke about the cryptocurrency with regard the future of technology and finance.

 

When Elon Musk was asked regarding Jack Dorsey’s prediction, which was that the Internet shall be witnessing Bitcoin as its native currency soon, Elon Musk answered it and found it interesting.

 

He further said that the idea and also the structure of the Bitcoin is great and it seems like there is some advantage to Ethereum. Elon Musk is not sure whether it will be good for Tesla resources to get into cryptocurrency.

 

Elon Musk also said that Bitcoin and Ethereum scammers were so rampant on Twitter, he decided to join in and He said at one point that he wants to buy some Bitcoin. Then his account got suspended cause obviously there was some automatic rule, he then ended the conversation by saying that he was just joking.

 

A campaign was started by Twitter which deleted several bogus accounts for “coordinated manipulation,” and promotion of cryptocurrency scams, Elon Musk appreciated the website’s efforts.

 

Elon Musk added that the disadvantage of cryptocurrency is that the nature of production is energy intensive as regards to the mining process.

 

Keeney referenced to the terrible financial condition in Africa, where the restrictions on the currency stop the citizens from converting their currencies and forcing them to go through the US dollar. To which Musk replied that cryptocurrency is a far better way to transfer money or value rather than pieces of paper. Paper money is going away.

 

Even after Elon Musk’s positive statement on cryptocurrencies, his recognition for the structure and concept of Bitcoin and Ethereum and his confirmation that paper money will be replaced by the decentralized currency, the Tesla CEO made it clear that his company will not be selling Bitcoins.

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Tim Draper: Bitcoin Mass Adoption till 2021

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Tim Draper said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin.

Bitcoin is considered as digital gold or e-gold which has achieved dominance in the field of cryptocurrency. Tim Draper, who is the inventor of the Billionaire Bitcoin, predicted the rapid increase in the growth of the Bitcoin or cryptocurrency in the world and said in an interview with the FOX Business on 18th Day of February 2019 that the world will soon start buying coffee by using Bitcoin. According to his prediction, the world is just 2 years away from when everybody shall start to use Bitcoin.

 

By 2023, Baristas would be laughing at people who shall make the payment of their purchase by using the currency other than the Bitcoin, Tim Draper added.

 

Even after having a large number of Bitcoins, Tim Draper has no plan to trade or sell any of his Bitcoin.

Tim Draper previously claimed and predicted that by 2022, the net value of Bitcoin will reach to $250,000 per coin. The prediction is also said to be the highest prediction coming from the industry of cryptocurrency. But Draper is still not clear on how this rapid growth will take place but he is enough confidence that there will be massive growth in cryptocurrency.

 

Recently the CEO of Twitter, Jack Dorsey also publicized Bitcoin.

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