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?.