novelties@live.com

13 Years of Experience Providing Novelties Since 2006

Done in 24 Hours Rush Orders Available

Digital Copies Fast e-mail Deliveries

The Start of a New Bitcoin Bull Market.

Article Issue #32
Bitcoin Is Back and It's Going Higher

The Start of a New Bitcoin Bull Market.

25 May, 2019 | Bankis

Bitcoin (BTC-USD) is back, up by 157% since its most recent take off began. But despite the great gains, we are still in the early stages of this new Bitcoin Bull Market. Bitcoin’s long-term image continues to look very bullish and the Fed's continuously easy monetary policies makes Bitcoin appear highly attractive due to its, limited supply feature based on mathematical formula and the security and transparency the blockchain technology provides. It is expected prices to keep increasing in value as Bitcoin's popularity also increases with the widespread adoption of such blockchain technology and more public awareness and education about bitcoin.

The recent Bitcoin bull market can last for a long term (possible years), and quite possibly longer than any previous bull market. The price also should go beyond any previous Bitcoin all-time highs which according to bitcoin history data can hit prices in between $50-100K. This possible by looking on a long-term chart of Bitcoin’s price movement where we can see that Bitcoin has gone through three major up movements. The first one took Bitcoin’s price from about $2 - $200, or about 10,000%. The second move took the price up from about $50 to roughly $1,200, or approximately 2,300%. Finally the third big move brought Bitcoin’s price from $200 all the way to over $19,500, or nearly 10,000%. These significant moves have also been followed by a substantial long and deep bear market. After big move one, Bitcoin dropped from about $200 to $50, or 75%. After move two Bitcoin declined from about $1,200 to $200, or approximately 83%, and this last movement had been followed by a bubble of approximately 84%. Judging by historical data therefore it is likely that the new bull Bitcoin market will surpass the past ones and perhaps after it a new significate decline.

Apart from this new bull market that just started on May 2019, Bitcoin has only a market cap of $143 billion. However, given its enormous long-term potential, this figure can go much higher. As a matter of fact, if Bitcoin only had 1% of the value of the global medium of exchange and store of value markets, it would have a market cap of roughly $1 trillion. This would equate to about $56K per Bitcoin, an additional 600% from current levels. At 5% of the market that figure could go nearly to $300K per Bitcoin. However, if the Bitcoin eventually gains such market share, it would likely happen over a 5 to 15 years period. This makes us in a way aware that the Bitcoin trip is likely to be going on a long ride with a few downs along the road. The reasons behind these bitcoin bull markets and potential increase in value in the future, are bound not just to the fact of more and more mass adoption both by the public and by big, medium and small business and corporations, but also due to the federal reserves in various developed countries like the USA and others in Europe which the more money they print, the higher the money supply will expand which causes an inflation that is ideal for Bitcoin. This means, easier money, more money printing, higher inflation, and high Bitcoin prices. There are only 21 million Bitcoins that can ever be in circulation, and right now there are around 17.7 million in circulation. which unlikely any other central bank, Bitcoin’s cannot simply be printed. This means, we are dealing with two asset types being one with a set limited supply and another with an unlimited one. This leaves fiat currencies at a great disadvantage and gives Bitcoin every probability to appreciate on a continuous basis.

Another interesting fact is that there are around 37 million Bitcoin blockchain accounts worldwide at this point May 2019. This opens an huge potential for market share in global store of wealth and medium of exchange markets. These blockchain accounts grew around 55% over the last 12 months which indicates the mass adoption increase and more potential market share in the future. Bitcoin will have a lot of bubbles and ups and downs but it’s long term upside potential is in our opinion worth any wait or sacrifice for those who are willing to invest and trust in this asset.