Altcoin season has arrived and BTC is surging
In late 2017, prices reached around $20,000. In 2019 many analysts are expecting ’s price to go back up a little considering Fidelity and Bakkt launching. This means more Wall Street of .
The bear market for Stocks is also I think good for the price of . Even WeChat’s ban on crypto is good for demand in Asia.
Let’s think about ’s current price momentum, as of today is now at around $8,130, up a whopping 60.84 percent over the past month. Reaching the 8,000 mark so abruptly, I think a $10,000 range for May, 2019 is well within reason.
It’s problematic that platforms don’t report good figures. In the past 24 hours alone, data reveals more than $27 billion worth of was traded across exchanges, whereas $2,1 billion was traded solely on the 10 exchanges Bitwise Asset Management as the only exchanges reporting honest volume figures.
Theories range from institutional interest to prices being driven by speculative “whale” traders. I think however mainstream interest from investors facilitated by Fidelity and Bakkt will keep ’s run hot. As Game of Thrones does, so does crypto — in other words the white walkers have been defeated and there appears to be a somewhat belated crypto thaw occurring.
Geopolitical tension appears for speculation. prices have yet to recover to its all-time highs of around $20,000 in late 2017 when a frenzy of interest from retail investors suddenly sent the value of dramatically higher. won’t see a frenzy any time soon, but the end of the crypto winter is still something to cheer about. Mentions of the future economy take on a new dimension with Facebook’s project Libra and JP Morgan’s internal stablecoin.
could easily reach 10,000 in May since this time of the year is known as “ season”. Just as there are cycles in the stock market calendar year, so too can we find such patterns in crypto.
Technology advances are also making more useful and more secure. Every day is taking baby steps to a better internet. The development of the Lightning Network is proceeding and creating a new application ecosystem, while the Blockstream Satellite network is creating redundancies in availability.
Hubs like , and even Square are evolving. Many startups are tethered to ’s price. Thousands of startups depend on the future of . Crypto has a counter-intuitive impact on ’s price at times. There are whales and trades behind the scenes that are difficult to follow.
It doesn’t matter if you like FUD or BUIDLers, Consensus conference is happening and this is a crypto moment in time. is part of the tech and spirit of our times, like a transcendental meme for young people and high-risk investors.
’s recent momentum however is undeniable. In the past 90-days alone the mother of all has increased 127 percent in price, nearly 60 percent of which was accrued in the last 30 days alone. Is the 10,000 barrier next? It’s only mid-May, not hard for that threshold to be broken. We’ll see, but I’m bullish on it.
Published at Tue, 14 May 2019 17:24:52 +0000
