Source: https://cointelegraph.com/news/bitcoin-market-dominance-climbs-to-over-60-highest-in-over-2-years
Bitcoin is up over 300% in 2019 as it hit over $12,800 at it’s recent highs.
This is getting close to how Bitcoin ramped to $20,000 in 2017 — but with much different market place facts.
When we went to $20k Bitcoin in 2017 it was under much different conditions.
For 2019/2020 the foundation and functionality is like night / day vs 2017 and IMHO it will drive much higher than 2017.
- Wall Street was no engaged in 2017 and did not have exchanges ready to trade cryptos —- BAKKT will launch in 2-3 months.
- in 2017 there were no ETF’s to be be approved — now there are
- in 2017 there were less “on ramps” and “off ramps” for people to buy/sell crytpos
- in 2019 you now see major company trials in cryptos: Banking (XRP), Facebooks Libra stable value token plans
- in 2019 we now see the World Bank, IMF, and BIS open to digital assets as a reality going forward — they see it coming
What is coming?
- HUGE volume from institutional investors — only the tip of the ice berg so far
- Amazon will announce plans
- Global regulations for exchanges and Know Your customer Banking rules — being payed out at the G20 June 28th/29th in Tokyo Jaan this week
- Global currency issues with the European Union (Deutsche Bank and Italy) will drive movement to cryptos as a solution to safety —- hopefully not as bad as Venezuela—-but we know something is coming.
More Stable Value coins from companies — JP Morgan coin is being tested now as well.
Bitcoin is seen as a “store of value” — like gold.
XRP/Ripple helps banks with remittances — you saw Ripple / Moneygram announcement and then we saw Western Union announcemet they will lower fees. Why? Because Moneygram and Ripple XRP immediate transfer at lower fees is a clear winner vs Western Union (they will need to change as well).
Digital money and payments will only grow over the next several years. Interesting times.
Bitcoin and gold up fiat down...
Long term, you are very much correct!
much more bullish this time it seems, so i think would surpass old all time high
We could easily see $20k and ATH’s by end of September....should be interesting