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What Will It Take For Bitcoin (BTC) To Rise Again?

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It is no secret that 2018 has been a terrible year for cryptocurrencies when it comes to their value. Things looked so bright during the first few days of this year, with Bitcoin hitting $20,086 per coin, and every altcoin reaching new heights. However, it was not to last, and soon enough, the market crashed, and prices went down.

What followed was months and months of a heavily bearish market that kept pushing the prices further and further down. It prevented any attempt of recovery, although several of them gave it their best shot.

Despite a situation like this, crypto investors never forgot the potential of Bitcoin, and many have been predicting another bull run that would have the same results. Those expectations were quite large, and potentially even unrealistic at first. Now, however, as the year approaches its end, it doesn’t seem like anything will happen. The community started to wonder why that is, and what would it take for another bull run to emerge, which is what we will try to answer right now.

What does Bitcoin need in order to have another bull run?

1. Bringing regulation

The crypto space remains highly unregulated in most parts of the world, which is one of the largest reasons why BTC remains dormant. While there are attempts to regulate it, these attempts are made even more difficult due to the fact that the market is constantly changing and evolving. This is a good thing since it shows that there is activity, the market is advancing. However, many believe that it will soon reach the state where it cannot keep evolving on its own, which is when regulations will be necessary.

Regulations will also encourage large institutions to join the trading, and bring additional funds to the market. This is the money that is desperately needed in order for crypto space to grow and develop further. It is what fuels it, and what will help it mature. Furthermore, regulations will make the industry more transparent, reliable, compliant, and trustworthy.

2. The approval of Bitcoin ETF

Bitcoin ETF approval is another thing that will likely spark the price of Bitcoin, and bring it back to its feet. Trading ETFs instead of actual BTC would allow cryptos to indirectly enter the traditional stock market, attract more attention, get more money, and serve as a bridge between crypto and traditional finances.

It would bring a huge change to the crypto space, which is why it was desperately sought after by companies for years. However, until this point the US SEC remained strongly against this concept, rejecting all applications. Many believe that approving only one such application will cause the next Bitcoin boom, but this has yet to happen.

3. Solving scalability issues

Ever since it was created, analysts predicted that Bitcoin will have scalability issues. It is only capable of achieving a few transactions per second, which was not a problem at first. But, as its popularity grew, more people started making transactions, and eventually, they created a long line of transactions, waiting to be validated. This is when people realized that a new solution is in order. Some tried to deal with the issue by creating another coin that would resolve the issue.

Others attempted to try and find a way to make Bitcoin better. One such solution that can help Bitcoin grow once more is the Lightning network, that has the potential to allow users to send payments to each other on a different level. Those would only be small payments that would not be recorded on the blockchain. Instead, two parties would be able to send BTC to each other via special tunnels, and only when they are done, and the tunnel is closed, would the final result be recorded.

While this would not work for large payments, the solution would hugely reduce the number of transactions in need of recording. The result would be much faster, and a lot cheaper Bitcoin. With that in mind, it is clear why such a solution is deemed extremely valuable to the BTC ecosystem.

4. Mass adoption

Over the last two years, Bitcoin became truly known throughout the world. While many remain skeptical of it to this day, others have started to accept it. Even some retailers decided to open up towards crypto and accept it as a legitimate payment method. While this is a very important first step, Bitcoin is now ready for another one — the adoption by larger retailers.

In order for BTC to enter mainstream usage, businesses need to start accepting it. This is their personal decision, and they are the ones that need to make it. Bitcoin needs their help in order to continue its development, and they need to adopt it in order to stay relevant. Making such a move is in everyone’s best interest, which is why retailers are encouraged in multiple ways to make it. Until that happens, Bitcoin supporters will have to keep using a few businesses that did open up to crypto and wait for this situation to change. Once it does, Bitcoin will surely reach the same heights as it did before.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

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Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

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Bitcoin

Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

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Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

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Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

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Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…

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