Bitcoin will quickly recover from its slump due to these 3 factors
Nobody needs to be reminded that Bitcoin fell to a seven-month low today. However, all of this has happened before – and a recovery followed, as it will follow again this time. There are several bullish factors that will lead to a bitcoin turnaround next year.
Bitcoin revival: factors and trends
Last year at this time, BTC crashed to $ 3 700, the markets were deep in the crypto -Winters. Here we are, one year later, in the middle of the Christmas season – with a 10% – Dump to $ 6. 600.
There may be more pain before profits are made again – but one thing is certain: 2020 there will be a recovery, because industry insiders are confident.
PlusToken liquidated and liquidated
Hardly anyone in the crypto community disagrees that one of the crypto industry's largest Ponzi programs has had a huge impact on the markets this year. Crypto research company Chainalysis recently reported that the Chinese scam could have reached over $ 3 billion in cryptocurrencies with the digital wallet.
The company followed up on the $ 2 billion movements when the perpetrators washed their prey OTC and using a blender. These enormous crypto dumps 2019 coincided with major market movements, but now these sales seem to be waning.
If this is actually the case, it will have a positive effect on Bitcoin prices, which could recover after reaching a bottom.
148 Days to halve BTC
Bitcoin's halving should also not be underestimated, which many do. As the industry analyst “PlanB” mentioned: after halving earlier, the markets have changed a lot, and this could be the case again.
There should be a certain dynamic in the run-up to the event, which according to the countdown is only 148 days away is. The optimistic economic factors introduced by the halving include a decline in inflation, a decrease in supply and a doubling of the stock-to-flow ratio. Investors and industry observers largely agree that this will be positive for BTC.
Institutional contact points
Products like Bakkt's cash-based Bitcoin Futures do absolutely nothing for the digital asset, but offer a broader commitment. A number of new institutional products have entered the market this year, and this trend is expected to continue in the next year. Instructional investors tend to be risk-averse and prefer safer ways to invest their assets. In the year 2020 further products such as custodial staking or lending on the DeFi markets are likely to emerge for institutions, as crypto is becoming more and more mainstream.
Bitcoin is cooling off at the end of the year – but if you consider that it was exactly a year ago 80% was worth less, everything is half as bad.
Proof of text: newsbtc