Just two years ago in 2017 the prices of Bitcoin reached there all time high at around $20,000. Cryptocurrency traders around the world were overjoyed with such a huge change in the prices and it seems that their investment in Bitcoins are finally paying of a brilliant manner. However good times don’t last long, do they? In the mid-2018, the prices came crashing down at around $3200 and it seemed that the cryptocurrency bubble was burst.
However, in 2019, currently the prices have improved to $7000 and it seems there’s more to the industry than the eye meets. At this point, the prices seem to be stuck in the middle and there are no major changes both in the upward or downward side. In May 2019, prices seemed to improve ay $12,000 but fell steadily within the next few months. Since the market is volatile, if you are planning to invest in Bitcoins, then choose Bitcoin Future cryptocurrency exchange for safe trading.
What’s the bullish and bearish case for Bitcoins?
Experts believe that volatility is declining and the prices are trying to assess the next direction. Many feel that the prices are going to rise towards the end of the year rather than falling. The rise in institutional investors are making the cryptocurrency market more stable and safe bet. The continued influx can drastically impact the prices and take them towards the bullish side.
However, the prices can be bearish as well. The trend of the addition of institutional investors is surely helping to pump the prices up. But, it seems that this trend will not have an everlasting impact on the markets and Bitcoiners are going to soon look for new alternatives to revive it. Hence, at this current time frame, it is really difficult to understand how the Bitcoins are going to perform and as we step in 2020, Bitcoiners can only keep their fingers crossed.