5 Things To Know About Bitcoin In 2019 ~ The International Finance

Tuesday, 18 June 2019

5 Things To Know About Bitcoin In 2019

The outlook for bitcoin is always changing, in some cases from one hour to the next. This make it very difficult to keep up with, though as anyone with an interest in cryptocurrency knows, it can also be both fascinating and rewarding to make the effort. As it so happens, 2019 has actually seen some degree of stabilization in the bitcoin market, which in turn actually makes it a little bit easier to keep a handle on.

With that said, we’ve identified five particularly important and interesting things to know about bitcoin in 2019.


1. The Price Has Soared


Bitcoin’s price has been on its most sustained bull run since the legendary climb in 2017 (which saw it near the $20,000 mark). It recently reached its 2019 high, and there are now some crypto analysts projecting more gains - and some others suggesting those gains could eclipse the 2017 numbers. This is not meant to suggest that bitcoin is destined to keep rising throughout the year, nor to guarantee that the bull run will last much longer than it has to this point. However, after the late-2017 crash and a weak (and relatively uneventful) 2018, the first half of this year has renewed hopes of the cryptocurrency’s long-term strength.

2. “Hedge” Talk Is Back


Once upon a time, when bitcoin was still getting on its feet as a popular alternative currency, there was a fair amount of talk about how it could replace gold and silver as a “hedge” against financial crises. This logic is straightforward: Like gold before it, bitcoin enjoys total independence from fiat currencies and major financial systems. Thus, the reasoning goes, investors who worry that their wealth isn’t safe in banks or in fiat form might buy up bitcoin during an economic downturn, so as to protect their wealth from plummeting currency values. Whether or not bitcoin should or will perform this way in the long run is still unknown, but it should be noted that the strong 2019 performance seems to have renewed talk of cryptocurrencies as hedge options.

3. New Industries Are Emerging


Moving away from price talk and investment strategy, it’s worth checking in every few months to see which industries might have newly adopted bitcoin, or may be on the cusp of doing so. Indeed, the first half of 2019 has brought along a few possibilities. One is significant bitcoin activity in gambling businesses. Now spreading throughout the U.S., online gambling is becoming a bigger business in a significant portion of the world; it involves incredible amounts of money changing hands, and cryptocurrencies are starting to gain entry on some platforms, meaning there’s massive new potential for bitcoin. Another interesting industry development is that online retail is growing steadily more friendly toward cryptos. Recently some sites have even emerged giving people multi-step methods of buying goods on Amazon with bitcoin.

4. Facebook Is A Factor


We wouldn’t quite call Facebook a newly involved industry, but the social media giant should definitely be mentioned as another factor in bitcoin development in 2019. Facebook is making a foray into cryptocurrency, with a new digital coin that will reportedly be called Libra (though other reports are citing it as GlobalCoin). And with this development being viewed as something of an endorsement of blockchain technology and cryptocurrency in general, it actually seems to have boosted bitcoin performance early on.

5. Altcoins Have Remained Far Behind


As a final note, we should also mention that altcoins - those cryptocurrencies not called bitcoin - have so far remained well behind in 2019. Every few months there are articles suggesting that one or another of these altcoins could be poised to catch up to bitcoin; sometimes we even hear that one may ultimately beat out the leader. Years down the line, perhaps this will be the case. For now though, bitcoin remains decidedly in front of the pack, at least in terms of pure value and utility.

About Author

Amit Singh is a founder of Theinternationalfinance.com he share his immense knowledge of Finance in this blog.

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