Where is bitcoin going in 2019
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Key Takeaways Bitcoin and other cryptocurrencies have emerged as a new asset class that has seen extraordinary returns over the past decade. Several new developments such as increased institutional interest, pending ETF approval, and the popularity of stablecoins suggest a continued positive trend. Institutional Investors Get in the Game Although trade figures for individual investors are down in many cases, institutions are climbing on board in a significant way for the first time.
Institutional investors allow for significantly larger trading volumes than most individual investors, meaning that even if fewer trading partners are transacting in the digital currency space, the industry can still sustain itself. There are several potential developments projected to take place in and that could significantly impact institutional participation in the digital currency market. If crypto is floated on the Nasdaq or a similar exchange, for example, it will immediately get a boost in reputation—and likely, value.
The U. One of the most talked-about funds, by provider VanEck, has seen its final approval decision pushed back again and again. Some analysts believe that the approval of a mainstream Bitcoin ETF could provide a significant jolt to the digital currency world, opening up the industry to investors eager to participate without some of the risks associated with buying and selling tokens directly. As of now, though, the future of VanEck's fund remains to be seen.
Stablecoins Take the Lead Stablecoins are digital tokens that are pegged to a fiat currency that act as hedging mechanisms against the potential decline of underlying cryptocurrency collateral prices—and they may just be the industry's best hope going into Stablecoins may see growth next year for two reasons: one, a result of the long-term instability of non-centralized tokens; and two, the current leader in the stablecoin industry, tether, is positioned to be dethroned.
As one of the earliest stablecoins to reach the mainstream, Tether USDT has suffered a number of highly publicized growing pains while the sub-industry developed. Other stablecoins have already entered the field, aiming to wrench away its dominance.
What Do We Know for Sure? Bitcoin prices have become a bellwether for the market. While still difficult to nail down an exact characterization of cryptocurrency and how it fits within the modern financial pattern — whether a currency, digital asset or a commodity — by evaluating the price action in the context of its more established analogs, it becomes apparent that Bitcoin and its peers have reached significant milestones.
Apps Affiliated with Bitcoin Trading Performance The acuteness of the cryptocurrency market has made it obligatory for traders to make quicker decisions and perform transactions faster. These demands led to the development of the Bitcoin apps to offer traders an automated trading platform and more leverage in the market. The Bitcoin apps enhanced a unique algorithm that can interpret and process the market signals faster such as the bitcoin revolution. If the bitcoin revolution is over then the users are forced to invest from the beginning, without trying the platform first.
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Could the same happen again? It might be just a question of time and if that happens, it could trigger the next run in Bitcoin price with a 50, USD target for Therefore, this factor will play a positive role for the longer term. As shown by the chart below, it is not uncommon for BTCUSD to cross below the accelerated trend line and make a sideways movement before returning in the ascending channel. Note that the chart below is a log chart, these charts are great for cryptocurrencies in general because their moves are fast and the prices are volatile so a log chart is the best to appreciate the movement and tune off volatility and noise.
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