In recent times, Bitcoin has seen a decline, in its value. Having maintained a $10,000 mark stability, for over 3 months, Bitcoin, under 48 hours experienced a 20% drop, after the Bakkt Bitcoin futures exchange was opened.
The general viewpoint on Bitcoin going forward to 2020 is, however, that the recent decline, poses no worries, to the cryptocurrency.
A good case can be argued, for Bitcoin, in that, it has the potential, to become a promising cryptocurrency, come 2020 and beyond, irrespective of its present challenge.
2020 has a high expectation of it, in the financial market, as tensions may rise and this may lead to volatility, in the world economy, making the strongest currency to survive.
For instance, the ongoing friction existing, between the United States and China, appears not to end, anytime soon, if Donald Trump remains in the White House.
The presidential election in the US is, around the corner and there may be outrage if Trump grabs the seat again.
Any of these potential changes, would cause a rise in volatility and what does that mean for bitcoin?
A piece of great news for cryptocurrency! Digital currency would possess a high market value when all other currencies are faced with a volatile situation.
Asides from the volatility that would likely hit the financial market in 2020, the adoption of the crypto coin has seen a steady increase, as more nodes have lent their support, to the bitcoin network.
Recent innovations have, even, shown that users can send private transactions.
The bitcoin lightning network has, also, caused a high adoption of cryptocurrency, as it will cause the transactions to be swift.
In the event of potential volatility, a high tendency that, people might embrace Bitcoin, as a means of executing their transactions.
For this to occur, however, the leading currencies in the world would have to suffer a sharp decline.
What Affects the Price of Bitcoin?
The entirety of the cause cannot be fully determined, as there are multiple variables, responsible for the price change, however, the recent increase, in the adoption that it has enjoyed, would place it, in a better position, moving to 2020.
Recent happenings may have taken its toll, on the price of bitcoin. Indications have shown that these will reduce in effect, come 2020.
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