Cryptocurrency | The reason The crypto market continues the positive upward trend

As the market and crypto adoption develops and companies invest in crypto, crypto prices may experience a positive trend in the future. In this article, we will discuss reasons or possibilities that can help the price of crypto return to the positive path.

ETF approval
ETF approval is something that is awaited by everyone who lives in the crypto world. With the approval of ETF, it can make crypto legalized for trading and can make the price of crypto especially Bitcoin can experience significant price spikes. The ETF has been delayed several times, and the final decision of the Bitcoin ETF will be presented by Bitwise and VanEck / SolidX is expected on October 13 and October 18.

Comments of Bitwise's global research head, Matt Hougan:
"A little more than a year ago, we had no future. A year ago we didn't have many companies that made a market. A few months ago, you didn't have people like Fidelity announced in space. It develops very, very fast. "

Launch of Bitcoin Futures BAKKT
BAKKT is a crypto exchange company founded by the Intercontinental Exchange (ICE) and has been approved by the US Commodity Futures Trading Commission (CFTC) for digital research institute infrastructure. BAKKT is expected to start operating in September 23 to offer daily and monthly Bitcoin contract futures that are sent physically in partnership with ICE Futures US and ICE Clear US.

BAKKT can be a bridge for larger institutional investors and investors to have access to the cryptocurrency market. Until now the cryptocurrency market only focused on investors and retail companies.

Launch of LIBRA coin
Libracoin is an idea that will be realized by Facebook and its project partners in 2020. Libra is experiencing a lot of opposition from various groups, but they continue and find a way out so that their projects according to plan.

Libra coin is a stable crypto coin that is patented to popular currencies such as USD, GBP, and EURO and will be integrated into Facebook products and possibly also be integrated into their partner products. If Libra is officially released, it can open up the possibility that the process of buying and selling crypto can be more easily done by ordinary people or can capture new users.

Although the possibility is small, with hype news about Libra coin can open the eyes of ordinary people to know about cryptocurrency in other variants.

Halving Bitcoin in 2020
Bitcoin will experience a reduction in prize blocks, which means that bitcoin miners will get half the BTC they currently receive. At present, the prize per block is 12.5 BTC. But this reward is expected to decrease to 6.25 BTC per block in May 2020. The previous reward reduction event caused the price of BTC to increase.

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Cryptocurrency | The reason The crypto market continues the positive upward trend Cryptocurrency | The reason The crypto market continues the positive upward trend Reviewed by sheffter on August 24, 2019 Rating: 5

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