Will bitcoin go on another bull run? All eyes are on the market caps of the big coins lkike bitcoin, litecoin, XRP and others.
The market found lower ground last week as bitcoin hit a minimum price of $9100 before finding stability.
From there is grew up to almost $11,000 in the span of 48 hours before finding support at around $10,500.
Many traders, bitcoin investors and mom’s and pop’s alike are all watching the market now to see if bitcoin will mount a full recovery and hit highs of $14,000 and above as it has in June and for a short time in July.
Will we see a full recovery in July 2019 for bitcoin however? With one week left for the month of July it seems promising the bitcoin may well reclaim highs of $13,000 and above.
Of course it is also possible that we could see a downturn in the short term of bitcoin’s market cap. Yet even in this event of a downturn in the market long term the prospects of bitcoin bode very very well.
We are already seeing further adoption of the coin in countries like Venezuela where there are major economic problems. As well as in places in Africa and Asia. Anywhere where there is economic troubles bitcoin is popping up to save the day.
It is becoming more stable and easier to use. The wall is coming down and many of the not-so-tech-savvy people are now jumping into bitcoin as it becomes easier to purchase thanks to exchanges like coinbase.com and binance.com.
How long until Bitcoin hits $100,000?
It may take as long as 10 years, or it could possibly happen in this year of 2019! As we saw in 2017 there was a tipping point and then money poured in.
That’s just how this market is, it is very bullish and an economic downturn in securities on the stock market could actually have a positive effect on the market. What’s more many more institutional investors are becoming more involved in bitcoin everyday. Plus we are awaiting the SEC to create an ETF (exchange traded fund) for bitcoin which would certainly cause the price to go up further.
Bitcoin is becoming more socially accepted between people and for commerce., Every day people are less trusting of fiat currencies and the governments that back them. When an insolvent government backs paper money and prints more out of thin air, it’s not wonder so many are turning to cryptocurrencies like bitcoin and others which are decentralized and have limited supply.