Why will bitcoin recover soon?
The price of bitcoin is down! Are you happy or sad? You betcha, that big institutions and big money are ridiculously happy, because it's days like these that they are jumping at the chance to buy bitcoin at the dip, lining their pockets, and making their wallets fatter. Are you doing the same or no more moola? Investment Rule #11; Keep some money liquid.
The price of Bitcoin is down and it has been a down day overall in the stock market and in the crypto currency market. A lot of you are probably wondering if bitcoin's price will recover? And to that I say YES!!! I think it will not only recover but recover in a very substantial way.
In fact bitcoin will recover in a great way because institutional money is flooding in like a tsunami. Big money, big groups, companies and institutional money are starting to support bitcoin in a grander scale. They are becoming more and more comfortable with the nature of the technology and it's use cases.
Even large banks such a Goldman Sachs have started projects with blockchain and crypto currency and has been cited that they will continue to increase their foothold in the future. This is only one out of many institutions getting their feet wet in the technology. This is critical in driving blockchain and bitcoin forward.
John McAfee and I share the same sentiment that there will be a bull run in the crypto currency market in the near future. He stated on his twitter that billions will be pumped in by institutional investors. McAfee also claims that this will lead to a significant change in the market caps of the leading crypto currencies and most highly recognized alt coins. McAfee was quoted stating that institutional investors will be entering the market with a vengeance, and with long term investors pumping billions into the market.
What news supports this claim? Well, earlier this month, Goldman Sachs announced that they will be launching a bitcoin trading operation to buy and sell bitcoin futures. Another note worthy headline was Coinbase announcing, that they are filing for a banking license to attract crypto hedge funds and to offer more services other than providing bitcoin exchange. Circle, the same company who was backed by Goldman Sachs a few months ago, and who acquired Poloniex, one of the largest cryptocurrency exchanges, is now working on developing a crypto currency token that will be backed by the US dollar. Lastly, Climate Solutions TMI, a subsidiary of Berkshire Hathaway, has launched the production of portable cryptocurrency miners for the Montreal company Kelvin Emtech. Berkshire Hathaway is controlled by Warren Buffett, who is chairman and CEO of the company.
Sources:
- JP Morgan Announces Prototype Blockchain Platform to Streamline Capital Markets Infrastructure
- Coinbase Met with Regulators to Discuss Banking License
- Circle Announces USD Coin
- Warren Buffett Produces Bitcoin Miners
What do you guys think? Do you think we will have a substantial bull run in the near future or will we be in a bear market for 2 years as predicted by Ian Balina? Engage with us your thoughts.
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i tend to agree... BTC at new all time highs is not an IF but a WHEN question... now is a great time to load the boat! Also, some really great deals on alt coins now.
Sadly it is an If question at this point
I hope you are feeling a little better now! All this consolidation time has really set the stage for a tightening of the supply of BTC available. That makes a new rally to all time highs and beyond even more likely.
I love ya buddy
But keep dreaming
We have more pain then go 😫
Supply is huge. Mining hadn’t slowed down at all wity price decline like it would of normally! To many big miners are willing to keep going and bleed cash. If anything we are at over supply given the difficulty hasn’t changed.
We are in a serious bear market. It could be over a year before new highs. We will no doubt test 6K again
I think it could happen. A 6k bitcoin is what some analysts are predicting if certain conditions a met. However I am hopefull that we will test the ATH sooner than later.
I think we go up long term no matter what.unless we see something we don’t see coming..... that said it would be healthy to bottom lower then 6K and get it over with now instead of hovering here for months and months!
haha I love it!
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Not happy or sad...no fiat money or crypto to invest ahahah! Just earned my first 50 dogecoins!!
Ahahah ;)
It’s going to 6K again
Wait till it’s cheaper
Bitcoin will recover to new highs but the negativity from the January selloff will last quite a while in my opinion.
I think institutions would like to see some support/stability before investing large sums of money. Crypto is currently seen as a way to diversify your portfolio. Further access to this diversification would be a good sign, but currently the price is susceptible to large chunks being sold off by various whales. These dips may also be whales testing the markets to find the supports.
Good and valid points but it's been reported a few weeks back that big money has been using the OTC market to buy large sums of bitcoin. By doing OTC Trading big money or the insitution are able to keep the price of bitcoin down so that they can keep hedging their positions. It's these market manipulation tactics that really grinds my gears.
Sure a bitcoin bull run is coming.. I agree with you.. With all does trying to invest in it then if I'm permitted to say, I guess it'll not just be a bull run but a race for bulls. God knows how ready I am. @crytoautonomy
I agree I also believe that sooner or later we will migrate more towards the cryptocurrencies and it will be more comfortable for everyone and even for the planet since it would save paper, staff in banks and much more
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I wanna meet crypto punks like me. Anyone know where I can find Nyc meet ups ? Or information on em?
Carly❤️