Between the Bulls and the Bears, What’s Really Going on With Bitcoin?

For the last 7 days, the trading volume for Bitcoin has been soaring – so much so, that now two camps are emerging, the bulls and the bears. Whether you’re a trader, a tech geek, a crypto enthusiast, or just a curious by-stander, you’re likely thinking: what’s driving this?

Let’s take a closer look at the last 7 days and see what’s going on.

Bullish Signs

The list of bullish signals is growing, so let’s just dive in:

  • The launch of Bakkt futures platform – Institutional investors have been waiting for Bakkt to launch, as it signals a maturing of the space, with an extra layer of security for stocks and futures trading.
  • Increased acceptance from central banks – With more banks and financial institutions opening up to cryptocurrency and blockchain, more investors are feeling more comfortable to wade into the space.
  • Crypto-friendly jurisdictions – These jurisdictions may not be as big as the US or China, but they’re allowing businesses to use and trade cryptocurrencies, which makes it easier for potential investors.
    • It’s clear that something’s up, but what are the bears thinking?

      Bearish Signs

      The bears, that pessimistic bunch, hasn’t been shy in pointing out certain bearish signals:

      • A looming recession – With the US-China trade war heating up, there’s a lot of economic uncertainty and many investors are afraid of investing in a volatile asset like Bitcoin
      • The health of traditional markets – If traditional stocks and commodities fall, many investors will see this as a signal that it’s time to look for escape options
      • The technology – Blockchain is quickly maturing, but still, some investors are leery of its potential and its applications beyond just acting as a store of value
        • So, what’s the secret behind Bitcoin’s recent surge?

          The Real Story?

          Well, it depends who you’re asking. The reality is that Bitcoin is still a volatile asset and its future is uncertain. That being said, it’s clear that certain bullish trends are at play and investors are starting to take notice.

          At the end of the day, it’s up to you and your common sense to decide if Bitcoin is a good investment for you. And remember, don’t get too caught up in the hype – trust your gut and be smart when it comes to your investments.

          Happy trading, everyone!