When Bitcoin started its gradual drop from the $6,000 region last year, the bulls seem to have lost their momentum in market cap, volume and trading price. Since the leading cryptocurrency has been left around the $3,000 mark, the whole crypto market has been left in a state of turmoil which has seen the crypto community start to speculate on the future and what the key trigger will be for the revival of the beloved Bitcoin.
In 2018 there were numerous experts and analysts who took back their predictions as it became obvious that Bitcoin would need more than just a ‘pump and dump’ rally to spark a bull run. Elsewhere, there were a few other Bitcoin enthusiasts that had predicted some new all-time highs in 2019 considering that the US Securities and Exchange Commission and other big investors are most likely to decide on different factors that will affect the growth of Bitcoin throughout this year and will also go on to start a massive bull run.
Investment from big institutional players is going to be a big highlight of this year for the cryptocurrency. This isn’t just for Bitcoin though as altcoins will surely be affected by the outcome of the institutional investment. For the leading cryptocurrency though, triggering the most interest amongst these investors have been the ‘order of the day’.
Over the counter makers and Bakkt are also making a long term investment in Bitcoin for the first and second quarter of this year which could help a big bullish outpour if regulations fall into place.
Despite the Winklevoss ETF being rejected, the US SEC commission Hester Peirce has announced that at some point in 2019 we will see the BItcoin ETF get approved alongside the regulation of crypto-friendly toke-sales. With VanEck’s proposal being amended, Bitcoiners should expect a bull run at whichever point the approval begins.
So even though the SEC and the investment from big institutions being a big factor for the rise of crypto in 2019, cryptocurrency traders are still the biggest thing that keeps the market relatively stable.
In terms of price, Bitcoin is priced at $3,623 after experienced a 0.89 percent drop over the past 24 hours at the current time of writing.