Came to stay do not panic Bitcoin is not dying. At least if you believe the analysis of VanEck. In an open report to investors, the asset manager underpins his pro bitcoin stance.
With the drop in the price from $ 19,500 to $ 3,000, some have hoped Bitcoin was just a fad. But there are solid developments from some big companies who suggest the opposite.
Then the financial services provider lists developments that underpin the bull’s attitude. The Bitcoin integration in the cash app from the Jack Dorsey side project Square regulatory. Positives such as bitcoin tax excellence in the state of Ohio the Samsung crypto key integration bitcoin market indices on Nasdaq the first Crypto Basket ETP.
What if it happens?
Chicago’s mayor displays an amazingly crypto friendly attitude. During a FinTech conference held on March 18 in the state capital of Illinois, mayor Rahm Emanuel recited a common crypto narrative, “The nation states are falling apart. City-states are emerging, changing the political structures under which we all grew up. Someday somebody will find out how to use cryptocurrencies to stay alive when faced with a financial crisis. And then you will find out that this moment crypto adaptation has come. This was first reported by the news portal Forbes.
Blind from here
An old acquaintance of this small corner of opinion tends to be bullish. Tom Lee, CEO of the data analysis company Fundstrat, considers a bull run likely within the next six months.
Lee gives an explanation as well. It is the chart indicator of the 200 day moving average that optimists the Fundstrat boss.
He said, “The most important figure to be observed is the 200 day moving average. If Bitcoin holds over $ 4,000, it will exceed its 200 day moving average by August. So I think it will take no more than five to six months before Bitcoin starts looking technically like a bull market.”
Just have to want
Regarding the crypto spring, ChainDD analysts are more conservative. A complete reversal of the market is only conceivable for the next Coinbase Reward Halving, i.e in May 2020. This opinion is published by the crypto think tank in the current 2018-2019 Cryptocurrency Market Annual Report.
Thus, 2019 will be the year that removes the bubble of 2017 and leaves the stage in the opportunist. And further the cycle will last until 2020.
Each time the reward is halved for found blocks, in other words the BTC inflation rate, this is associated with a price increase by BTC.
Also published on Medium.