Crypto markets are shifting
Bitcoin's usage, adoption, and awareness appear to be boosting Bitcoin's value at the moment as it has just hit a recent high of $4000 per coin. Some people within the Bitcoin community view this has a promise of future growth while others remain skeptical about the recent high and anticipate a drop in the new future. All that we know for certain is that Bitcoin, and other cryptocurrencies, are on the rise in 2019.
The altcoins are also seeing growth recently. Ethereum grew 1.43% to $140.86, Ripple has also seen a spike recently of 0.29% to $0.3178 and Litecoin increased 1.53% to $61.687, however, of the 20 cryptocurrencies available, Bitcoin has seen the biggest and most notable increase of 0.81% to trade at $4,019.6.
The reason for the increase is very difficult to pinpoint due to the volatile nature of the cryptocurrency marketplace. The increase could be attributed to more people trading with Bitcoin, more people buying Bitcoin, or more people paying attention to Bitcoin. Alternatively, the increase could have nothing to do with any of the aforementioned goings-on and could be completely arbitrary.
Bitcoin has been on the rise since the beginning of 2019 as the cryptocurrency community has observed the growth in a massive rebound out of a very cold and uneventful 2018. As the cryptocurrency market begins to thaw in the early months of 2019, the crypto community may be able to expect to see Bitcoin continue on this slow and steady rise.
Cryptocurrency enthusiasts were most likely buying Bitcoin while it was suffering through a dip towards the end of 2018 which has resulted in the increase and the recent spike may see more people interested in buying Bitcoin as the trend moves upward before selling Bitcoin once it hits a higher high. Unfortunately, the selling of Bitcoin when it hits worth of particularly high values does result in another drop which is preventing Bitcoin from skyrocketing to its previous highs in 2017.
The bullish crypto investors have high hopes for the strong return of cryptocurrencies due to its resilience and ability to continue to grow even after it has been knocked down time and time again.