The pressures on Bitcoin prices are mounting – in the right direction. With ETF exchanges hitting the market and new opportunities to spend Bitcoin (such as Starbuck’s Bakkt-integration that will finally allow customers to make in-person purchases using digital currency), Bitcoin nay-sayers are running out of evidence to justify their doom and gloom predictions.
As major players keep piling into cryptocurrency, it looks like 2019 is going to be a major year for building. Bitcoin prices have not been kind to investors since the start of 2018, but interest in the cryptocurrency refuses to slow down. The impact on prices has yet to be seen in full strength. In the early days of these new movements on Bitcoin, investors can snap up the cryptocurrency before prices surge upward again.
What are the experts seeing in Bitcoin to give it new hope?
#1 The Lightning Network
The Lightning Network looks posed to become the highlight of Bitcoin’s year in 2019, as it gives Bitcoin a roadmap to scalability. The Lightning Network is setting the stage to improve Bitcoin’s utility as a means of exchange by reducing transaction times and speeds. The Lightning Network will continue to grow and issues may arise, so much depends on how proactively these challenges are handled.
#2 Rising Adoption
There is to limited a supply of Bitcoin right now to accommodate the growing number of players (and the kind of money they have to throw around) not to impact Bitcoin prices soon. There is going to be a new wave of adoption and Bitcoin prices will rise along with it, especially as cryptocurrency is increasingly used on exchanges, in e-commerce,and industries affected by Operation Choke Point.
#3 Price Hikes Coming Soon
The market cap of Bitcoin is still relatively small compared to other investment assets like blue chip stocks at the forefront of the industry. Bitcoin is not all that widely distributed either, with much of the BTC wealth in existence concentrated in a handful of wallets – a result of pre-bubble distribution that has now become relatively extreme wealth.
That means Bitcoin prices remain subject to manipulation, but governments around the world are increasingly interested in seeing cryptocurrency better regulated – something that could break the manipulation of the cryptocurrency. Institutional investment is bound to drive price hikes.
#4 Geopolitical Strife
Many believe that international tensions and geopolitical strife will drive wealth from imperilled economies into cryptocurrency for safe-keeping. Its’ a phenomenon that’s been observed in Venezuela, despite the government’ s oppressive attempts to curtail money fleeing into Bitcoin in favor of a nationally-made digital currency.
#5 Forking Will be Part of Maturity
Ongoing disputes and infighting will continue to lead to forking as it did with Bitcoin Cash and it’s believe that continued forking will hinder Bitcoin growth until the cryptocurrency finally pulls ahead as the indisputable currency that backs blockchain technology.
If you’re interest in Bitcoin trends in 2019, check this out to learn more about how to invest in Bitcoin today. Bitcoin investors have been waiting with baited breath for a long time. Now it’s time to see if the cryptocurrency is ready to change.