As Bitcoin Price Records Drastic Fall, These Bullish Factors Suggest It May Rise Again Soon

News
Wed, 09/25/2019 - 13:49
article image
Yuri Molchan
Despite the Bitcoin quotes demonstrating a heavy drop on Tuesday, crypto investors remain bullish and facts are suggesting that BTC price will soon surge again
As Bitcoin Price Records Drastic Fall, These Bullish Factors Suggest It May Rise Again Soon
Cover image via www.123rf.com
Contents

As Bitcoin showed a tremendous fall on Tuesday and dropped around 13 percent, experts remain optimistic and expect the bull market to return soon.

A trader and technical analyst @CryptoMichNL has shared several major factors that are likely to trigger further Bitcoin growth.

‘People are still bearish macrowise. I don't get it.’

Several factors at the moment suggest that Bitcoin and crypto assets are going to become more popular among both institutional and retail investors. Among them is the launch of Bitcoin futures on Bakkt.

Factor 2 is that Boerse Stuttgart Group has set up Boerse Stuttgart Digital Exchange (BSDEX) to trade Bitcoin, as reported by media on Monday.

Factor 3 is that SoFi, a finance management firm, has added crypto (BTC, LTC and ETH) to its SoFi Invest platform and it will be available in 30 states in the USA, except New York.

Related Bitcoin Price Plummeted Right After Decline on US Stock Market, eToro’s Mati Greenspan Says
Related
Bitcoin Price Plummeted Right After Decline on US Stock Market, eToro’s Mati Greenspan Says

Bitcoin hashrate recovers, Binance sells crypto through bank cards

Another factor is that earlier today Binance announced that it has launched an option to let users purchase crypto via their credit and debit cards.

As part of Binance’s mission to increase the adoption and mainstream accessibility of crypto, users will now be able to use Visa and MasterCard to buy BTC, ETH, LTC, XRP, and BCHABC using Koinal, and start trading on Binance.com within minutes.

One more important thing is that the Bitcoin hashrate, which recorded a drop of 40 percent yesterday, is now back to its previous value.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.