Has Bitcoin Gone Mainstream? 6 Signs Prices Could Continue To Climb

A recently conducted study has found that despite a persisting bear market in 2018, the cryptocurrency markets will still likely see tremendous growth in trading volume in 2019, growing by an estimated 50%.

These figures and predictions mean that although cryptocurrencies are stuck in a persisting bear market, their prices will likely climb and stabilize as trading volume increases as a result of better investment venues, better custodial solutions, and increased institutional and corporate interest. This growth is mainly attributed to increasing market accessibility and growing corporate and institutional adoption.

There are several reasons as to why bitcoin is becoming more mainstream, and why its price could climb significantly.

The first is because credit card companies like Mastercard have developed patents on items and products designed to hasten cryptocurrency payments. These ventures realize that a large majority of their customers are turning to crypto either for investment or spending purposes. They realize digital assets are growing in power and appeal to most customers, and they are doing something to capitalize on this. The patent, along with organizations working to offer faster blockchain-based transactions, reveal the ongoing commitment in the crypto community to make bitcoin transactions faster, more scalable and more streamlined than ever before.

Secondly, institutional investors have flocked to cryptocurrency like sheep over the past few months. For example, Goldman Sachs announced in May that it was developing plans for a new bitcoin and cryptocurrency trading desk, though it has yet to solidify a formal timeline or due date on the project. In addition, as the reality of a bitcoin ETF begins to grow stronger, more Wall Street players may find themselves more attracted to the crypto arena.

Thirdly, large investment firms lend credibility to bitcoin. The CBOE or Chicago Board Options Exchange and the CME Group started to make a market in Bitcoin options last December. Fidelity announced that besides making small investments in cryptocurrency companies it also had a small mining operation. When you add reports that Goldman Sachs could start trading Cryptocurrencies it makes investors feel more comfortable committing capital and create demand. These large financial institutions wouldn’t be putting resources and people into CCs if they didn’t feel they weren’t viable.

The fourth, bitcoin is the safety currency. The U.S. dollar is considered the “safest” currency in the world since it has the full faith and support of the U.S. government. That being said there are a number of people and a growing number that look to Bitcoin as a safe haven in times of trouble. Bitcoin has started to gain traction with people who live or send money to countries whose governments they don’t trust such as Zimbabwe or where inflation is very high, for example, Venezuela.

The fifth, it’s the most secure way to pay online. The bitcoin protocol provides the most secure system to make online payments and with so many payment processing systems creating products for the end user, bitcoins are definitely one of the most secure options to proceed online payments. This currency cannot be counterfeited. Once you authorize a payment and it goes through, the details of the transactions get stored in a public ledger where anyone can access them. The transactions, once complete, are irreversible.

Lastly, momentum for bitcoin and its crypto-cousins is building daily. For example, day-to-day transactions surpassed 273,000. More on-chain transactions suggest that the demand for cryptocurrency is continuing to grow, and decentralized technology is experiencing higher levels of popularity.

Another source is suggesting that even stronger, higher jumps are in store for everyone’s favorite cryptocurrency due to what’s known as a “parabosuper-trendrend” that bitcoin tends to follow consistently, and that eventually, not only will it surpass its all-time high of nearly $20,000; it could potentially spike to $50,000, $250,000, or even $1 million in the future.

The used sources: https://research.bloomberg.com/pub/res/d3h2iTlKWIa4FTLKGJsUn3mis5g, https://www.forbes.com/sites/forbesfinancecouncil/2018/09/24/four-reasons-bitcoin-could-pass-40000-by-the-end-of-2019/#6664af85616b, https://nulltx.com/bitcoin-price-watch-currency-stays-put-but-is-it-becoming-more-mainstream/