4 Factors that could bring the bulls back for Cryptocurrency 2019

Every Cryptocurrency enthusiast is waiting for the bulls to return, so what are the factors that could lead to the rise of cryptocurrency in the year 2019.

Launch of BAKKT

From the day Intercontinental Exchange (ICE), the parent company of NewYork Stock Exchange announced that they are offering digital assets trading, the crypto world has been eagerly waiting for the same. Many people, including the foremost experts of cryptocurrencies, firmly believe that this is the prime factor that would drive the Bitcoin price up, and along with it the rest of the coins.

The Bakkt launch was expected to happen on Jan last week, but later got shifted to sometime in the first quarter, which is due in another month. So we might very well see the difference in another month or so.

Launch of Fidelity

Like Bakkt another more anticipated digital asset trading platform is Fidelity’s digital asset trading platform. The well-known financial services company is opening in a new chapter in digital assets trading.

With the launch of Fidelity, a trusted name among the institutional investors, there is a good chance that its launch will attract more institutional investors and more physical currency into the Cryptocurrency market, both these would very well drive the price up.

Launch of any Bitcoin ETFs

Apart from Bakkt and Fidelity, there are numerous new and existing financial institutions that are waiting for the Exchange Traded Fund(ETF) approvals from the Securities and Exchanges Commission(SEC) in the United States. This includes the Winklevoss twins, who sued Facebook for stealing their idea to create the popular social networking site.

But so far the SEC has rejected all the Bitcoin ETF proposal owing to the coin not meeting the recommended standards that an ETF requires.

Bitcoin Reward Halving

At least some of you who are reading this might have a questionable look on your face. This is because Bitcoin reward halving happens every four years and is due to happen only by May 2020. But if you check the historical figures, there is a significant rise in price around 1 year before the bull run which sets the date to May 2019.

This is usually due to the big players or the “whales” of the Crypto community starting to acquire the Bitcoin before the reward halving and once the supply is short and the demand rises they would sell it at a heightened price.

So all these aforementioned factors along with more public adoption of Cryptocurrencies, the price of Bitcoin, Ethereum and along with it many other promising coins are bound to rise in the year of 2019.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: