Mainstream eyes are opening up on cryptocurrency once again and it may cause a bigger boom than ever before. Hang on tight, a wild ride up may be close at hand!
The hope of a new crypto boom, driven forward by speculation of new and exciting players in the game, has caused crypto analysts to reflect on the last crypto bull run. The last bull run took Bitcoin to its all-time high of $20,000, and considering what’s changed since then we could see an even larger bull run this time around.
Things Have Changed
Back in 2017 Bitcoin was still largely unknown by many people, not true anymore. The public drove up the Bitcoin price from curiosity and in hopes of getting rich quick. When the bubble burst so did the public interest.
Now, with prices going up and big players making moves into the crypto area many people won’t want to be left behind and may jump back in. People dream and many dream big of a possible better future. If people see institutions like Bakkt, Fidelity, Banks and Squares Cash app going in they may follow fast.
Settng The Stage
With the continuing escalation of trade tensions between the US and China, Bitcoin is becoming increasingly attractive. Major financial institutions are worried about what the trade war is going to do to them and crypto is a viable alternative.
The fact that Bitcoin and other cryptos don’t follow other markets makes it an ideal choice for portfolio diversification. This is also why many big retailers may start taking Bitcoin, and when that happens, the boom is on.
It’s Time Could Be Now
For many reasons, it’s obvious that Bitcoin and other cryptos are in a different position than 2017. What drives this boom could very well be the stabilizing factors that truly make cryptocurrency the currency of our future.
Author: Tim Helmick
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