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What Will It Take For Bitcoin (BTC) To Rise Again?

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It is no secret that 2018 has been a terrible year for cryptocurrencies when it comes to their value. Things looked so bright during the first few days of this year, with Bitcoin hitting $20,086 per coin, and every altcoin reaching new heights. However, it was not to last, and soon enough, the market crashed, and prices went down.

What followed was months and months of a heavily bearish market that kept pushing the prices further and further down. It prevented any attempt of recovery, although several of them gave it their best shot.

Despite a situation like this, crypto investors never forgot the potential of Bitcoin, and many have been predicting another bull run that would have the same results. Those expectations were quite large, and potentially even unrealistic at first. Now, however, as the year approaches its end, it doesn’t seem like anything will happen. The community started to wonder why that is, and what would it take for another bull run to emerge, which is what we will try to answer right now.

What does Bitcoin need in order to have another bull run?

1. Bringing regulation

The crypto space remains highly unregulated in most parts of the world, which is one of the largest reasons why BTC remains dormant. While there are attempts to regulate it, these attempts are made even more difficult due to the fact that the market is constantly changing and evolving. This is a good thing since it shows that there is activity, the market is advancing. However, many believe that it will soon reach the state where it cannot keep evolving on its own, which is when regulations will be necessary.

Regulations will also encourage large institutions to join the trading, and bring additional funds to the market. This is the money that is desperately needed in order for crypto space to grow and develop further. It is what fuels it, and what will help it mature. Furthermore, regulations will make the industry more transparent, reliable, compliant, and trustworthy.

2. The approval of Bitcoin ETF

Bitcoin ETF approval is another thing that will likely spark the price of Bitcoin, and bring it back to its feet. Trading ETFs instead of actual BTC would allow cryptos to indirectly enter the traditional stock market, attract more attention, get more money, and serve as a bridge between crypto and traditional finances.

It would bring a huge change to the crypto space, which is why it was desperately sought after by companies for years. However, until this point the US SEC remained strongly against this concept, rejecting all applications. Many believe that approving only one such application will cause the next Bitcoin boom, but this has yet to happen.

3. Solving scalability issues

Ever since it was created, analysts predicted that Bitcoin will have scalability issues. It is only capable of achieving a few transactions per second, which was not a problem at first. But, as its popularity grew, more people started making transactions, and eventually, they created a long line of transactions, waiting to be validated. This is when people realized that a new solution is in order. Some tried to deal with the issue by creating another coin that would resolve the issue.

Others attempted to try and find a way to make Bitcoin better. One such solution that can help Bitcoin grow once more is the Lightning network, that has the potential to allow users to send payments to each other on a different level. Those would only be small payments that would not be recorded on the blockchain. Instead, two parties would be able to send BTC to each other via special tunnels, and only when they are done, and the tunnel is closed, would the final result be recorded.

While this would not work for large payments, the solution would hugely reduce the number of transactions in need of recording. The result would be much faster, and a lot cheaper Bitcoin. With that in mind, it is clear why such a solution is deemed extremely valuable to the BTC ecosystem.

4. Mass adoption

Over the last two years, Bitcoin became truly known throughout the world. While many remain skeptical of it to this day, others have started to accept it. Even some retailers decided to open up towards crypto and accept it as a legitimate payment method. While this is a very important first step, Bitcoin is now ready for another one — the adoption by larger retailers.

In order for BTC to enter mainstream usage, businesses need to start accepting it. This is their personal decision, and they are the ones that need to make it. Bitcoin needs their help in order to continue its development, and they need to adopt it in order to stay relevant. Making such a move is in everyone’s best interest, which is why retailers are encouraged in multiple ways to make it. Until that happens, Bitcoin supporters will have to keep using a few businesses that did open up to crypto and wait for this situation to change. Once it does, Bitcoin will surely reach the same heights as it did before.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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What to Expect in 2019: BTC, BAT, and Steem

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There are only a few weeks of 2018 left, and considering how bearish and crypto-unfriendly this year was, a lot of investors will likely be pleased to see it gone. Many believe that 2019 will be the year that will correct BTC prices and bring forth the period of great recovery.

But what does that mean for digital currencies? Which ones are a good investment right now? This is something that we will, hopefully, be able to answer right now. Here are the top 3 coins that everyone should keep an eye on in 2019.

1. Bitcoin (BTC)

Of course, we have to start with Bitcoin, the first and largest cryptocurrency. Bitcoin has lost a lot in 2018, and its losses are unparalleled by any other coin. In fact, in terms of market cap, Bitcoin has lost as much as the rest of the crypto market put together.

Many believe that its rapid growth, which started in late 2017 and has brought it to its all-time high, is responsible. That the bearish 2018 was only a one large price correction of the last year’s price surge. Even if this is true, price corrections, luckily, all end sooner or later, and when this one comes to a close, Bitcoin will likely be ready for a big comeback.

2019 is expected to bring a lot that will serve BTC’s…

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The Three Biggest Problems with Crypto

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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?

However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.

Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.

We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:

Scammers

Failed projects

Immature technology

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