Input your search keywords and press Enter.

Calm Before the Storm: Bitcoin Bull Run Expected in the Next Months?

bitcoin

Bitcoin has been quite stable in the past months. Unlike its usual self, it has stayed around $6,200 to $6,500 and is considered less volatile than some tech-related stocks such as Amazon and Netflix. Some have been looking at this phenomenon as Bitcoin maturing. On the other hand, there are those who think that many are actually holding on to their Bitcoin waiting for the next possible bull run. There are market analysts that are looking at this scenario as a “calm before the storm”.

Victor Dergunov who is the founder of Albright Investment Group thinks that the price of Bitcoin is expected to go up in the coming months. He wrote in a blog that “This is not the first time Bitcoin has seen calm waters. We’ve seen similar periods of modest volatility, and humble price swings”. He also mentioned that “Primarily, similar low volatility phenomenon have occurred in the very late stages of bitcoin bear markets. Everyone seemingly loses interest, volume dries up, news flow quiets down, and then, when you least expect it, the next bitcoin bull market begins”.

But he Dergunov isn’t the only one with this prediction. You also have Ian McLeod who mentioned last week that the crypto market is expected to “explode” by 2019. However, for McLeod, he believes that the bull run will be coming from one of Bitcoin’s rivals. He said that “We can expect Bitcoin to lose 50 percent of its cryptocurrency market share to Ethereum, its nearest rival, within five years”.

He also said that “Ethereum is already light years ahead of bitcoin in everything but price and this gap will become increasingly apparent as more and more investors jump into crypto”.

2013 Spike

It’s no secret that 2017 captured the attention of many investors as Bitcoin was almost able to hit $20,000. In 2013, similar movement occurred as Bitcoin started below $100 only to go above $1,000 in the next months. However, there were periods of sustained losses and even stagnation. Bitcoin was trading around $200 and $600 for the next two years. Now, does it sound familiar?

If Bitcoin is going to mirror this kind of trend, it only means that there will be a bullish movement by the time we enter 2020.

Volatility as a Problem?

A lot of businesses are hesitating to make use of Bitcoin mainly because of its volatility. In response to this, there were those that created stablecoins. Stablecoins are cryptocurrencies that are backed mainly by fiat. However, these stablecoins aren’t free from criticisms or controversy. Tether was said to be used in order to manipulate the price of Bitcoin.

Regulatory Clarity and the Next Bull Run?

Many believe that regulatory clarity can bring the bull run. And this could be true. A lot of people are anticipating the possibility of having a Bitcoin ETF soon. Though the US Securities and Exchange Commission has rejected a number of Bitcoin ETF applications in the past, there’s the VanEck and Solid X Bitcoin ETF application that is believed by many as the one that has the strongest chance of getting approved. If this is the case, it could mean that institutional investors can have an easier time investing in the market.

Lee Jenkins

Lee is our resident cryptocurrency expert who knows the ins and outs of each coin and the blockchain technology behind them. You’ll find that most of our technical guides are written or overseen by Lee and they are all easily digestible by the new and experienced alike, so there is no better place to learn blockchain 101 than here. Occasionally you may see a news article from him if it’s tech related!

Leave a Reply

Your email address will not be published. Required fields are marked *


Notice: Undefined variable: font_family in /home/cryptocurrency35/public_html/news/wp-content/plugins/gdpr-cookie-compliance/moove-modules.php on line 282