2019 has given a lot of hope that Bitcoin will finally begin its triumphal march and will be able to cross the mark of $ 20,000 for 1 coin. The first two quarters of this year have been very different from the past, when the bearish trend dominated and there was no chance of breaking it. After the currency appreciated more than $ 5-6,000 per coin, many analysts began to believe that the bull trend was for a long time.
However, everything is not as rosy as it seems. Sometimes it seems that Bitcoin is about to jump again, but no, it starts to decline downward, the dynamics are unstable, the prerequisites for a powerful promotion are still not visible. Now the hope that a bull trend will form at the end of this year remains even less. According to the latest SFOX reports, institutional investors and major traders should generally forget that Bitcoin will climb. It won't, and that's why:
According to SFOX analysts, the stock index, which previously has showed a moderate bullish trend, is shifting towards neutrality. This is due to the fact that the United States and China can't end up the trade war, despite the encouraging news that sound from the officials of both countries. The process of removing D. Trump from power due to corruption scandals and interference in the affairs of other countries has also influenced this.
As stated in the report, increasing uncertainty in global markets has begun to affect the cryptocurrency community and sites. Bitcoin's price decline is most likely due to the fact that traders are increasingly afraid of a global recession, problems in the banking sector that have accumulated in the PRC and scandals around Trump that can lead to his resignation.
No one can say when everything will return to normal and many analysts believe that uncertainty and pessimism will become dominant trends for at least the whole next year. It’s definitely not worth waiting for a positive movement from Bitcoin, which reacts extremely sharply to bad news.
The launch of Bakkt also played a negative role. Many believed that the platform could increase the Bitcoin exchange rate, but it didn't live up to expectations and that reduced the confidence of traders.
The likelihood that the bearish trend will begin to dominate again this year is quite high and analysts believe that it will last the whole next 2020 year if an extraordinary event that could push the coin's rate up doesn't occur.
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