Josh Rager : This "could be" the last time the general population can afford to buy an entire $BTC
One big question comes in the mind of all the cryptocurrency trader and investor
" Will we be able to see new all time high ATH in Bitcoin ? "
Its been more than a year, we had seen the ATH in Bitcoin and since then it is in bearish trend. In last one year we have seen many changes, issues, objections related to its regulations & acceptance. Some countries like Japan, Australia, Malta, Argentina & many others have regulated and they are adopting Bitcoin, Cryptocurrencies & Blockchain shown some positive signs. And on the other hand countries like China, Bangladesh has banned it completely. There are also many countries like India which are not able to decide yet whether to ban it completely or regulate it.
If we consider the ATH of Bitcoin, total market capitalisation of all cryptocurrencies was around $800 Billions, Which is now around $120 Billions according to coinmarketcap. Market crashed over 80% since its ATH.
In last one year many good news came up like Bitcoin ETF will be approved, many exchanges applied for the approval of Bitcoin ETF to U.S. Securities and Exchange Commission. Most of them was rejected by SEC but some of them like CBOE VanEck/SolidX was considered to get approval by SEC. But when the deadline to decide on whether to approve it or not by SEC was approaching which was in the month of February, Company has withdrawn its application for Bitcoin ETF approval by SEC. They had given some reasons for withdrawal of their application like US shutdown etc. So the bad news turned to a sad news. But now the good news is they have again applied for Bitcoin ETF to SEC.
Bakkt was also expected to come to launch the platform at the end of 2018, which was postpone to February 2019 but still waiting for approvals from the concerned authorities. And Jeffrey C. Sprecher who is the CEO of Intercontinental Exchange, which is an American company that owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces which is also parent company of Bakkt
claimed that you will see the launch of the Platform later this year, Which raise the question will we be able to see the Bakkt platform launch in the first quarter of 2019. He claimed:
“So it’s a bit of a moonshot bet and it’s been organised in a manner that is very different than the way ICE typically does businesses […] They’re well along in building out an infrastructure that I think you’ll see launch later this year.”
We are listening many rumours, news some are good like Bakkt, BitcoinETF, worldwide acceptance of Bitcoin is increasing etc.few of them are bad like banned by China, Bitcoin and cryptocurrencies ads banned by some of the social media platforms etc.
Now the big question - We will be able to see the New ALL Time High in Bitcoin ?
If we look at the past, this is not the first time such thing happened to Bitcoin. In 2012 when Bitcoin price was around $12 at the time of its first production halving, it reached to $250 then crashed to $50. Then in 2016 Bitcoin price was around $600 at the time of its second production halving it and again after few months it started growing and reached to its new ATH around $18000 and crashed to $3000.
Now again in the mid of 2020 around the month of May, Bitcoin third production halving is approaching. When we we look at the past and consider all the history facts, twice in the history after its halving, bitcoin touched it new ATH within one to two years. And if the history repeats again, No wonder you might see the new all time high of Bitcoin in 2021 and bitcoin might touch $50000 and above. And at this price it will be next to impossible for a common public to buy one bitcoin and we all be able to afford some fractions of bitcoin. Cryptocurrency market is getting mature and the way cryptocurrency and blockchain acceptance is increasing day by day, it gives more strength to it.
One of the Crypto trader, Mr.Josh Rager also shared his view regarding the future of Bitcoin. He said :
This "could be" the last time the general population can afford to buy an entire $BTC After 2021 - Bitcoin could move to a market price where most will only buy fractions
Many positive things about to happen, regarding bitcoin and cryptocurrency in 2019 related to its global acceptance, regulations, platform, new projects, more exchanges etc. which may give fuel to this cryptocurrency market to reach new ATH.
Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This is not a financial advice.