Crypto news: When will bitcoin grow up: the prospects and prerequisites for growth

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The price of bitcoin to the U.S. dollar is difficult to predict, but there are several powerful arguments play in favour of an unambiguous increase in the near future. Now we briefly describe them.

The contents

The launch of futures on bitcoin on Bakkt

Bakkt largest exchange launches futures contracts on Bitcoin. All necessary permits were obtained from the American Commission CFTC. In September must receive the appropriate services for storage and physical the supply of bitcoin futures.

Many large companies and individual investors will have access to the cryptocurrency market through a controlled entity. Until recently, interest in the stock market showed only individuals, but large institutional players weren’t interested.

The influx of institutional money

According to Brian Armstrong, CEO of Coinbase, on their trading platform weekly there are new bitcoin deposits from institutional clients – 200-300 million dollars each. For the stock market is a great amount of investment. To assess the extent it is possible to compare the figures with the volume of mining BTC in a week for about $ 130 million.

Когда вырастет биткоин: перспективы и предпосылки к ростуPhoto Anthony Harvey

Many miners are not in a hurry to sell mined coins, so the market gets a smaller amount of assets. Also in the period of a trade war between America and China, investors are increasingly eyeing bitcoin as an alternative Vietnam money.

Halving in 2020

Reward miners for the extraction of blocks in the bitcoin network in 2020 will be reduced by half. At the moment the reward is 12.5 BTC, and in may he will be reduced to 6.25 BTC. Previously, in such cases, the rate of coins was increased within a few months.

The launch of bitcoin ETF

Investors expect a strong influence of the planned launch of a bitcoin ETF on the exchange rate Bitcoin to USD and Aldona. The final decision to launch cryptocurrency exchange-traded funds from Bitwise and VanEck should be taken 13 October and 18 October.

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Author: Vitalik

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