After the painful 2018, when we were shocked by the drop of Bitcoin, many of us lost our former optimism and enthusiasm and wondered if we should buy the first cryptocurrency on this rise and what this growth is connected with.
We've searched for the most popular reasons and rumors that explain the growth of bitcoin this year, and we'll be happy to see your theories in the comments.
- FOMO (Loss Of Profit Syndrome) - perhaps the most obvious reason. The market is tired of waiting for a bullish trend, and as soon as certain events created a growing demand for bitcoin, this growth was instantly boosted by enthusiasts in the rising exponent.
- People believe in the scarcity of Bitcoin. Indeed, the max supply of the first cryptocurrency does not increase, while the mining slows down. In addition, we expect a 50% reduction in the block reward, which can also increase the deficit and, accordingly, demand.
- Lack of influence FUD (Fear, uncertainty, and doubt). Many think that the market has simply become stronger, and the first cryptocurrency has been underestimated, that's why we witness growth now.
- New Altcoin season. Many believe in such a thing as the "Altcoin season." Certainly, many cryptocurrencies have also shown growth recently. However, the opposite point of view is also possible. In addition, the Bitcoin influence index is now higher than ever. Therefore, this version can be assigned to conspiracy theories that can't be taken seriously.
- Prosaic, but simple. Bitcoin was destined to grow. This version also seems amusing and is based on the fact that the part of the “technical analysts” that predicted the growth of BTC most strongly in 2019 turned out to be right. But we all know the proverb “Even a Broken Clock is Right Twice a Day” 🙂
In general, the reasons for growth can be very different, from completely insane to quite logical. We advise you to approach to trading in cryptocurrency carefully and with a cool head because each of us has both friends who bought bitcoin for $ 300 and $ 17000. Have a good week and enjoy trading with Cryptolocator 😉
No comments:
Post a Comment