Bitcoin 2020: Expectations Are Bullish For Both Price And Adoption

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Bitcoin 2020: Expectations Are Bullish For Both Price And Adoption
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As the year 2020 approaches, Bitcoin is headed for what can be termed a promising, but also a testing time for the cryptocurrency, still, analysts, buyers, and sellers have assumed a receptive position in anticipation for what they perceive will be a bullish outpour.

Although the Bitcoin 2019 run is yet to break through its overall all-time high, the entire cryptocurrency space will see a truckload of interest and investment rate generated overtime. In the case of price growth, top industry players are expected to fall in line.

Adoption

The adoption rate for Bitcoin has and will always be highly anticipated. However, with the influx of Bitcoin futures, investors are certain to be on the rise in the year 2020.

Bakkt for one is pushing this marathon in less than a week when the Bakkt Futures trading is set to go live and analysts do not only predict a bull run for the next few months, Bitcoin futures will generally set the pace for reduction in Bitcoin volatility next year and in future.

At present, Bakkt is not the only firm aimed at implementing Bitcoin Futures, the likes of Binance has also recently launched its Futures.

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Price

The decentralized nature of cryptocurrency, Bitcoin, in this case, create a value base that is driven by two major Economic factors; demand and supply.

Therefore, whatever affects these two factors fundamentally can result in a significantly bearish or bullish state for Bitcoin and presently, analysts believe that the supply of Bitcoin will largely be influenced by the Block Halving on the Bitcoin Blockchain protocol which takes place every four years, 2020 being the next.

The summation of it is that Bitcoin miners who use the protocol to mine Bitcoin will be rewarded yet again in BTC. The occurrence of the Bitcoin halving will lead to a reduction in the overall supply of BTC in the cryptocurrency market, thereby containing and cutting down on volatility for the Bitcoin market come 2020.


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