Bitcoin has performed in the last six weeks of consolidation, which has led many analysts to suspect that there is a low point. The fundamentals strengthen, however, and these three fundamentals could trigger the next bull run for BTC.
Bitcoin has risen since yesterday to almost 2.5%, and has cracked a few hours ago the weekly resistance at $7.480. A U.S. military action against Iranian targets-initiated rally has kept their gains, but the longer-term picture shows that BTC is still in a tight Trading range.
Until the break above the $8k mark, no additional Momentum is likely, but the following fundamentals could be the catalyst for a return of a BTC rally.
Contents
1. Hash Rate is at a record high
According to bitinfocharts.com the Hash Rate has reached with 114.5 u/s just to be a record. This is almost eight times higher than during the bubble the end of 2017, as industry observers say.
“The fundamentals of Bitcoin tell me that the #BTC price is going to explode IMMEDIATELY!”
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The should destroy the Thesis of the Miner-surrender – because network strength and security are better than ever. Hash are not correlated Rates directly with the price, but they are a good sign for the overall health of the Bitcoin network.
2. Bitcoin Halving
A Bitcoin article is complete without mentioning the halving in five months. There are various theories about how the four-yearly event will affect the profitability of the Miner in the negative.
Also true, however, is not that the markets are efficient-market hypothesis, according to a well-known event, but in anticipation of an event move, if the speculation is on the increase.
Previous Reductions have, however, led to major rallies after the halving, and there is no reason why this should be any different. “Stock to Flow”– and Bitcoin-value in energy models all suggest that larger gains are inevitable.
3. Safe-Haven Asset
There is no doubt that Bitcoin has become cemented as a safe harbour. Regardless of what haters like Peter Schiff think BTC has recovered along with Gold and Oil, as the news of the drone-killing of the Iranian Top was known Generals at the end of last week.
The volume of local bitcoin in countries with economic problems, Hyperinflation and capital controls has increased in the last year. This is expected to remain in the year 2020.
The Bank rescue operations have intensified, and interest rates worldwide fall in the negative range. The punished the savers and leads to a further accumulation of debt. The response of the Central banks of the world is the Printing of more money – but this is completely untenable.
The younger, tech-savvy generations are not like their predecessors from the banks on the table be drawn, but decentralized investments for your future and your assets store.