United States – Despite Bitcoin’s struggle at the start until half of the year 2019, this cryptocurrency increases over 100% at the end of the year.
Bitcoin (BTC) began in a struggling phase at the start of the year 2019. This cryptocurrency continued to brawl up to the quarter-two. On the brighter side, between short squeezing and long liquidation, this digital asset got back on its knees as it gained more than 100% by the end of this year.
Bitcoin has been wavering between a price of $6,500 to $7,800 levels from the previous two months. During the first half of the year, the cost of this cryptocurrency increased from the lows worth $3,337 to the earlier highs worth $113,868 levels. It owns the increase to the little squeezes and new long build-ups throughout the period.
As an outcome, users witnessed the enormous returns of 315%-term, which is within six months.
On the other hand, the bulls didn’t continue the points at the end of June. Afterward, the bears took back the seat of the drivers to drop the price to its last levels worth $6,430. Presently, this crypto is exchanging at $7,141 levels.
In the second half of the year 2019, analysts witnessed the longs of unveiling the positions to make a path for bears. The price dropped 53%, while it gained an estimate of 315% during the first half of the year. When it comes to its overall cost, this digital asset earned 113% in total for this year.
Analysts reckon the behavior of the price in the second half of the year, which retold a meaningful retreat event in 2018. Bitcoin’s price fell from $6,000 levels to $3,000 levels. This drop was after the merging phase.
Experts see some essential productive news to drive stable cryptocurrencies such as Bitcoin or Ethereum (ETH). The new Bitcoin products’ launch, such as options contracts and futures, are offered on the Intercontinental Exchange, along with the physical distribution facility in the Bakkt Warehouse.
A few months back, analysts commented that the real level of official participation was possibly more significant than broadly used exchange volume figures inferred. Furthermore, the number of sources recommended that only 5% of the reported exchange volume gathered across digital asset exchanges was sincere.
Some other practical thoughts are flowing in favor of leading cryptocurrencies. The new chair of Commodity Futures Trading Commission (CFTC) previously stated that Ethereum is a commodity. He’s implying the room for a plethora of newly controlled byproducts on platforms such as CBOE. Moreover, there was ETHUSD Futures’ news, while CME declared that Bitcoin Option. Also, experts are expecting to see Ethereum Futures by 2020.