Mind your business.

Tuesday, May 14, 2019

Five Solid Long Term Fundamentals Driving Bitcoin’s Price Higher

By: Wes Messamore

Bitcoin’s price poked through $7,000 over the weekend for the first time since Sept 5th, 2018, then pulled back Sunday ending a stunning six day parabolic rally from $5,700 on May 6th.

Then it rocketed back up again Monday in an approach to $8,000. Investors in digital assets are on the spot. Is bitcoin’s price rally a bubble full of FOMO or a more permanent shift to a new normal for bitcoin’s price?

There are at least five good reasons to believe the fear of missing out might be well founded. Bitcoin’s price seems buoyed by a rising tide of market adoption and capitalization that is moving to bitcoin to stay.

A tidal wave of institutional investment in custodial infrastructure to offer bitcoin to big investors is pushing the price higher. The supply of remaining bitcoin grows smaller every day. Technical market signals are favorable to a long bull run. There are a record number of bitcoin hodlers. And investors are making more whale sized purchases.

Read more at Hacked.

No comments:

Post a Comment

Ledger Nano S - The secure hardware wallet