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

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Wed, 25/09/2019 - 13:49
As Bitcoin Price Records Drastic Fall, These Bullish Factors Suggest It May Rise Again Soon
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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 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.

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