Bitcoin Again and Again at $20,000
After July crash, that brought Bitcoin’s price levels around $20,000 and brought all this bearish situation in the market. From that point and on, Bitcoin remained on the same levels but there was a short fall around $18,000.
The rise of the price back and above $20,000 was a positive progress that was hailed from the markets. But we can see two dominant trends in the market:
- The heavier correlation between crypto market and traditional stock markets
- The larger demand for cryptos from institutional investors
Those two signals show us that the market is on another circle that falls between the cycles in the entire economy.
And this shows us that over the next years, there would be a huge uprise and adoption for cryptos as an investment vehicle and a substitute of fiat money.