As the most popular and most highly valued crypto currency, Bitcoin serves as the barometer for the sector. The latest Bitcoin news is always eagerly anticipated by interested parties including traders, miners, backers, and financial analysts. Bitcoin has certainly had itself a rollercoaster ride in the last year. It had several lows and several highs which is great for those who thrive in major volatility. It never quite got as high as it did in the past but it was good enough to spark renewed interest in crypto. The new year looks like it will be another fascinating market watch.
The Newest Revival
From the tail end of 2018 until the spring of 2019, Bitcoin looked like it was down and out. It hovered around $3,400 which was a far cry from its all-time high of almost $20,000. Many lost money due to speculation and people sold off a lot of their BTC. Those who were a little bit more patient were rewarded when things picked up again towards the summer. Latest Bitcoin news defied the odds to fall just short of $12,000 in June of 2019. Some thought they would be in for another record-breaking upswing but that was not to be.
Bitcoin slowly declined to around $7,000 at the close of the year. There would be times when it would pick up only to drop down again at a lower level. The bears had their way and they had the numbers to prove it. However, things have been picking up since the New Year. The price is now nearing the $9,000 level and the bulls and loving the trend. Whether this holds for longer remains to be seen. Is it a sign of another major run or just another mini revival that will fizzle out later on? We shall see in due time.
A Missing Piece
One of the things that are keeping analysts cautiously optimistic is the fact that Bitcoin usage is not at the level that it used to be. It would be nice to see transactions involve the crypto currency to pick up just as they are being bought in high levels again. According to the latest data, there are about 3.6 transactions per second right now which is a stable number. The problem is that the amount of money present in these transactions are low in comparison to what they were during similar rallies in the past.
Although the value is up, traders should be wary about adoption and transactions.
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