Bitcoin (BTC) has yet again smashed through the $9,000 threshold and all indicators are strongly suggesting that we are at the beginning of the next significant Bull Run.
The last time Bitcoin hit $9,000 and above was back in November 2017, when we saw the price ultimately hit a record all time high of around $20,000 USD per coin.
Investors were in a good position back then and now the coin is set to be in an even better position than it was in 2017, and here is why.
Big Businesses Want To Get Involved
Since 2017 to current day the number of big name businesses globally has significantly increased. We have seen Microsoft add BTC to its Excel programme, and Apple has ultimately added the BTC symbol to its characters.
Facebook can no longer ignore that BTC and Cryptocurrencies alike are the future of currency, with the introduction of their very own Libra coin soon to be launched next year. It has been predicted that when Facebook’s coin goes live, that it will increase the price of BTC, acting as a Trojan horse for the coin.
Institutional Investment Is On The Rise
Back in 2017, the banks were sceptical and not many big institutions were involved. Fast-forward to 2019 and now JP Moran, one of the world’s largest banks has its very own cryptocurrency named the JPM Coin.
Blockchain Infrastructure Has Solidified
Over the last two years the Blockchain technology, which is the backbone to Cryptocurrencies, has been consistently building and improving. Transaction speed, usage, hash rate and block sizes have all dramatically improved, at the same time transaction fees are down by 68 percent.
Yes, payments and volumes may be down, however, this is due to the mainstream realising the value of Bitcoin, and rather than using it to purchase things are now storing and HODLing their coins for the next Bull Run.
There is a lot to be excited about, and the start of the next Bull Run is only just approaching. With the next Block Halving of Bitcoin set for next year, 2020, we can expect to see the price of BTC skyrocket yet again, however, this time around, experts and analysts are suggesting that the coin could reach as high as $250,000 USD per coin.
This means that now is the time to start mining BTC, instead of outright buying into the coin. This gives you the opportunity to mine as many coins as possible before the Block Halving occurs, ensuring that you have more coins to cash in on when the price does skyrocket.