Bitcoin Trends: Probable trends to Watch in 2020

Bitcoin Trends

Bitcoin had enjoyed a chequered past, especially since Christmas 2017, when the currency stood at a whopping $17,500, only to drop sharply to around $4,000 within the next few months. That super high price, no doubt, made some investors incredibly rich while at the same time making a few unfortunate investors lose millions, and the experts are now predicting a period of relative stability, as Bitcoin establishes itself as the number 1 cryptocurrency.

Indeed, another year is coming filled with rejuvenated optimism and newfound determination to make the year of 2020 be recalled as the time to take over with the cryptocurrencies. You will find speculation to be the heart of cryptocurrencies. Price speculation is present across all the known assets on the absolute frontiers, but most of the thriving cryptocurrencies have survived largely due to assumptions.

In the current market, this speculation has been the heart of volatility in the crypto market! While the shady token schemes and bad actors flood the given space, the new blockchain technology now seems overhyped and undelivered. Indeed, it is understood that the year 2020 may not be able to clam the crypto market down. In the meantime, it does promise to offer some of the most important developments. It will certainly lead to the development of new assets and provide a sense of how it would affect the future massive spikes and dips of the market!

Predictions For 2019

Last year certainly didn’t pan out as expected, with many so-called experts getting it completely wrong, so they are a little quiet this year. Of course, some predict that 2019 will be the year when Bitcoin is used en masse, but I wouldn’t hold my breath if I were you, as the world markets are still edgy about the huge drop that came early last year. The signs are that Bitcoin will remain stable in 2019. Indeed, many analysts predicted the crash, saying that Bitcoin was massively overvalued, and not that it is back to where it should be, wherein stability should be the norm.

A Good Time to Buy Bitcoin?

Buying Bitcoin is easy with companies like https://bitcoindealers.com.au/, which has offices in Melbourne, where you can buy as much as you wish. Any investor looking to move into the cryptocurrency market should start with a modest investment, and having all your eggs in one basket is never a good idea.

A Push For More Popularity

The number of Bitcoin ATMs is on the rise, and some governments are advising tourists to put their money into digital currency as it is much safer when traveling. Things like this are sending out the right signals, and the more people that use Bitcoin, the less chance there is of a drop in value. It is rumored that Samsung is including more blockchain technology in its new smartphone models, which, if true, is also very good news for all cryptocurrencies. There are informative articles available online on Bitcoin’s likely performance in 2019, which should guide you if you are looking to buy.

A Good Time To Dip Your Toes In The Water

Now that the big blip has leveled out, it is a good time to start with a small investment, and by keeping your eye on the value, you will be alerted to any market shifts. As long as you don’t go overboard with your initial investment, 2019 is looking to be a year when Bitcoin steadily gains a little ground, and all the signs are pointing to a stable 12 months.

Bitcoin halving 2020

The Bitcoin halving that was accounted in the month of may forms a key aspect of the Bull case of Bitcoin in 2020. Indeed, this was a scheduled occurrence that takes place roughly every four years. In this, the number of new bitcoins that are generated around every 10 minutes is cut in half. Instead of 12.5 bitcoin being included as a part of subsidy for the miners in every block, 6.25 bitcoin would be generated in that place.

Yes, some opinions are split into thoughts. This would answer how this event will affect the bitcoin price, or instead, it is already printed into the market! Indeed, wither of the way, you should note that only two previous halvings in Bitcoin’s history have been recorded that actually led to significant appreciations in the crypto world.

Bitcoin’s transition to digital gold

Do you know Bitcoin has been effectively referred to as the digital gold for many years now! Interestingly, 2019 was the year when it became more realistic. This is according to the data from the last six months of the year!

In fact, the idea of using the Bitcoin for the concept of digital gold has gained such popularity that U.S. Congressman Brad Sherman (D-CA) once claimed for using the crypto asset to be a threat to the U.S. dollar’s dominance across the global economy.

It can be seen that at the start of 2020. The similarities between gold’s price movements and Bitcoin’s price variations were responsible for increasing the tension between THE United States and Iran. Indeed, it did not go unnoticed! However, now we can say that the long term measurements of the correlation between gold and Bitcoin still point out to the fact that there is a weak correlation between the two assets.

Schnorr, Taproot, and Tapscript

Some of the smaller cryptocurrencies out there, indeed, Bitcoin does not require an account of severe upgrades happening very often. Indeed, it may point out that a major change can be expected in the year 2020!

Now, you may seechnorr, Taproot, and Tapscript to be included in the same soft-forking upgrade of the Bitcoin network. A finalized for this activation of the required improvements is expected to be ready by the end of this year.

Liquid sidechain adoption and lightning network

If you see the developments closely, you will notice the developments that are taking place on layers above the base Bitcoin protocol. The Lightning Network has been hyped as a better solution for faster and cheaper Bitcoin micropayments for several years now! Indeed, the Blockchain’s liquid side chain has seen immense growth in terms of the amount of Bitcoin.

Still, covering the greater level of attention that the Lightning network has accounted for, it may be the liquidity that would take the spot in 2020!

Institutional money

Indeed, this is the final Bitcoin trend that would be capturing your sights for new development. It is the adoption by the institutional investors. Adoption from the institutions has been aggressively hyped for many years now! But it is to be noted that this is not something that would be happening overnight! Trading Bitcoin on MT4 via CFDs is now possible.

Contextually, 2019 saw the SEC approval of the first 40-act regulated Bitcoin fund. This led an analyst to believe that a Bitcoin ETF approval could be right around the time! On the other hand, Grayscale recently announced the inflow of around $600 million in new money from the investors. That is done mostly done through hedge funds.

The bottom line

It is recommended to carry out some online research into Bitcoin before making an investment, which will allow you to make a more informed decision, which is always a wise move. All the signs are pointing to a stable year, and with a small initial investment, it won’t be the end of the word if the currency crashed, which is highly unlikely, given its past performance. At last, the overarching theme that surmounts all these trends is that cryptocurrency is growing up! It is now on the verge of becoming mainstream and is now finally opting for the actual use cases. There will undoubtedly have some questions regarding how transactions would be implemented the arrays of the ledgers. Still, Bitcoin would be gearing up to be the next significant change in the investment domain!