Home Bitcoin NewsBitCoin Forex What’s the Reason for the Bullish Momentum in Bitcoin Lately? – FX Leaders

What’s the Reason for the Bullish Momentum in Bitcoin Lately? – FX Leaders

by admin

What's the Reason for the Bullish Momentum in Bitcoin Lately?

Posted Friday, February 14, 2020 by




Arslan Butt



• 1 min read
What's the Reason for the Bullish Momentum in Bitcoin Lately?

Bitcoin has been experiencing quite a rally lately even as conventional financial markets grapple with high uncertainty and volatility on account of the coronavirus outbreak and fears of it denting economic growth in China and around the world. Several analysts attribute the bullish rally in the leading cryptocurrency to reports of its supply being halved in a few months’ time.

BITCOIN has gained nearly 50% so far in 2020, rising and holding above $10,000 and hitting its highest level seen in five months earlier this week. A significant driver of this rally is the rule written into Bitcoin’s code which will implement a 50% cut in production in May 2020, helping increase the demand for this crypto in markets for now.

Back in November 2012, when Bitcoin’s supply was halved for the first time, its price soared by more than 80 times, while the second cut in July 2016 saw prices grow four-fold. Although, some analysts consider the hype cycle to drive the present rally and not the impending supply cut.

According to these skeptics, every two-three years, mini-bubbles of rally drive Bitcoin and then subsequently, other cryptocurrencies, higher. So far, Bitcoin’s rally this year has helped Ethereum prices climb more than twice as high while Ripple has gained more than 75% of its value.

About the author



Arslan Butt


// Index & Commodity Analyst


Arslan Butt is our Lead Commodities and Indices Analyst.
Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D.
Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.

Related Articles



6 hours ago



17 hours ago



1 day ago

Leave a Reply

  Subscribe  

Frequently Asked Questions

Is FX Leaders free to use?

Absolutely! All services are free, so you to take advantage of the opportunities that Forex trading offers.

How do I start?

Open a trading account with one of our recommended brokers and start trading by following our forex signals and trade strategies!

Become a better trader

About FX Leaders

FX Leaders is an information station for forex, commodities, indices and cryptocurrency traders.
Providing you with the best strategies and trading opportunities whilst equipping you with the tools you need to be successful.
Get free trading signals,
daily market insights, tips, the best educational resources, social trading and much more…


Risk Warning: Trading forex, cryptocurrencies, indices, and commodities are potentially
high risk and may not be suitable for all investors. The high level of leverage can work both
for and against traders. Before any investment in forex, cryptocurrencies, indices,
and commodities you need to carefully consider your targets, previous experience,
and risk level. Trading may result in the loss of your money, therefore, you should
not invest capital that you cannot afford to lose.

Contact Us: [email protected]; Address: 1 Kaf Gimel Yordei HaSira, Tel Aviv-Yafo, Israel 6350801

FXLeades Logo

GET MARKET
OPPORTUNITIES
BEFORE EVERYONE
ELSE

  • Daily updates directly to your email
  • Customize your watchlist to suit your needs

FX LEADERS ON MOBILE

app store
play store
FXLeades Logo
×

GET MARKET
OPPORTUNITES
BEFORE EVERYONE ELSE

Receive signal updates & market analysis directly to your inbox

Create your personal watchlist to follow only what interests you

×

, one last step

Why trade with :

SPECIAL PROMOTION:

Trade with and Get the
1-Year Premium Plan (worth $120) for FREE!

live signals

×

I would like to get more details about
trading with

Let’s block ads! (Why?)



Source link

Related Articles

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More