Bitcoin, who is currently at $ 6,750, will be able to see $ 20,000 again? All of the cryptographers are looking for the answer to this question. If we do not know if Bitcoin can reach 20 thousand dollars again, we can foresee some developments that could affect Bitcoin’s price.
As we know, Bitcoin, which reached 20 thousand dollars in December of the year, is watching in a decline from that day. When entering the second week of July, the number one crypt money is being traded at the level of $ 6000. It should be noted that Bitcoin, bought and sold from 5900 on the last day of June last month, has risen steadily for about 8 days.
Bitcoin, who is currently at $ 6,750, will be able to see $ 20,000 again? All of the cryptographers are looking for the answer to this question. Of course, we will never know beforehand the answer to this question, since we can not see the future. We can only make various estimates based on specific data.
If we do not know if Bitcoin can reach 20 thousand dollars again, we can foresee some developments that could affect Bitcoin’s price.
There are many factors that could affect the price of Bitcoin in the future, either directly or indirectly.
If you need to write these:
1- G20 meetings
In March, the central banks of the countries and the ministers responsible for the economy gathered together for the first time to debate cryptographic money. In the wake of this debate, countries were asked to come up with concrete proposals in July. On the 19-20-21 and 22nd days of the month in which I am present, the heads of the central banks and the ministers responsible for the economy will reunite and make concrete suggestions on regulating the crypt money. In the crypto money market, many investors are striving to make their decisions from these meetings.
2- ICE’s crypto money exchange
The Intercontinental Exchange (ICE), the parent company of the world’s largest stock exchange, the New York Stock Exchange (NYSE), is developing a cryptographic exchange for corporate investors. If the ICE successfully implements this plan, it is estimated that billions of dollars worth of investment will come to the market.
3- Custody services
You wanted to invest $ 2 billion in Bitcoin. You were probably afraid to hide such a huge amount in widely used Bitcoin wallets. Here are some professional companies that offer transactional storage solutions and guarantee your presence. However, there is a serious shortcoming in the crypto money market. The lack of custody services is seen as a major obstacle to the development of corporate money. However, this situation gradually resolves. In the past days, Coinbase has announced that it has opened its custody service and has already reached 10 customers. In addition, Fidelity, one of the world’s largest investment companies with assets of $ 2.45 trillion under management, is already known to work on a custody service.
4- Exchange Traded Funds (ETFs)
The total size of ETF assets worldwide is estimated to be about $ 5 trillion. Bitcoin-related ETFs are expected to emerge in the not too distant future. Experts predict that an ETF approved by the US Securities and Exchange Commission (SEC) will open up everyone’s easy investment in the Bitcoin market, which could fuel the next rally in Bitcoin.
Gemini, now one of the largest crypto money exchanges in the US, is working on their own stock exchange mutual funds (ETFs). SolidX, whose last year’s ETF was rejected by the SEC, partnered with VanEck to increase its chances of being approved.
5- Lightning Network
One of the biggest obstacles ahead of Bitcoin’s usefulness is undoubtedly the scaling problems. Bitcoin’s network was clogged during Bitcoin’s summit with 20 thousand dollars in December, while unapproved transactions exceeded 400-500 and transaction fees climbed to over $ 30. This caused several speculations about Bitcoin. The number one crypto is running a frenzy to remove the problem of scaling up the money. Lightning Network technology is being developed more and more every day. If the technology is successfully applied to Bitcoin, it is said that the transaction fees will be close to 0 and the processing speeds will be measured in seconds.
Bitcoin miners are known for their efforts, as it is known, which ensures the security of the Bitcoin network and verification of operations. Each new block contains 12.5 Bitcoins as a prize. This prize was 50 BTC when Bitcoin first appeared. Under the structure of Bitcoin, mining awards are reduced to one half every four years. It is called ‘halvening’. The block award at Bitcoin was last cut to 9th July 2016. This has happened twice since 2009, when Bitcoin was created. Historically, half of the block rewards have increased the price of Bitcoin.
The next halvening event is estimated to take place in May 2020. At that time the mining prize will be reduced from 12.5 to 6.25. Crypto coin specialist Alp Işık has a serious expectation in the market ahead of the mining awards before the end of 2019 or after the second half of 2019