If you’re a Bitcoin investor, you might be feeling a little impatient at the moment. Perhaps you’re wondering when you should buy next, when you should sell next, or, most importantly, when Bitcoin will fly next.
If we go by the historical data, Bitcoin still does have the capacity to reach $20,000.00 again, though as we have seen through 2018, this is not going to happen organically. Bitcoin can’t gain forward momentum by itself anymore because fewer people are interested in the markets. On a mainstream level, interest in Bitcoin and cryptocurrencies has dropped, why? Because people aren’t making any big money off it anymore.
We all know that in order for Bitcoin to fly, we need to see this interest peak, yet to see interest peak, we need to see money start coming into the markets, we need to see investors making money again. What will trigger this?
Ideally, institutional investment, this should see major investment firms, banks and finance moguls investing in Bitcoin and in turn, telling people about it too. We need to see companies like Goldman Sachs investing a couple of million dollars into Bitcoin. When this happens, rivals will jump on board and in turn, so will retail investors and so will the mainstream population. If Bitcoin starts to move up slowly, and if the name of Bitcoin breaks into the headlines again, then ‘normal’ people will want to start investing, especially given that these ‘normal’ people only really know two things about Bitcoin; it hit $20,000.00 and then it dropped.
When the general population see’s Bitcoin start to make way to £20,000.00, FOMO will kick in and investment will begin. When huge ways of investment fall in Bitcoin’s favour, there can only be one result, a bull run.
Of course, such a bull run will, in turn, cause a mass sell-off that will bring the price of Bitcoin crashing back down, this is something investors can, of course, expect and plan for.
In short, we can only expect Bitcoin to fly when something happens outside of the markets. As we have seen, Bitcoin is currently running on empty. It’s been this way for months, with hype down, Bitcoin can’t progress. Once that hype picks back up again however, we will be seeing a very different picture indeed.