2016: Bitcoin Price on the Rise! – 3 Reasons Why This Could Be & Market Insight

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Bitcoin Bull Market
Bitcoin had 10+% rise over the past week
Price increase is forcing ALT Coin Markets Down
Reason#1
Is Bitcoin Going Mainstream?
Wall Street Journal Article Points Out Stability (Article Below)
http://blogs.wsj.com/moneybeat/2016/04/19/is-bitcoin-becoming-more-stable-than-gold/

FROM Wall Street JOURNAL:
“Digital gold is starting to look slightly more stable than its physical counterpart.” Why?

Gold vs Bitcoin:
-Gold is not finite, the amount in the earth’s crust is, yes, but….
-Space mining is gaining a foothold (article below)
http://phys.org/news/2016-04-humanity-space-boom.html
-One asteriod (supposedly laid claim to already) purportedly cointains $ trillions of Platinum
-Trading: FEES! Gold has 3-10% in fees, Bitcoin has .15% (on Poloniex)
-Try leaving the country with some amount of gold, try leaving with BTC in your online wallet

Why be in gold or bitcoin?
-Decreasing FIAT purchasing power
-Dollar has been in bull market for years
-Forcing down all other currencies, oil, bitcoin, and other commodities

USD declining since the beginning of the year (Chart Below)
Down 5% in the past 6 months
http://www.marketwatch.com/investing/index/dxy
USD is no longer the sidelines, it is as risky an asset to hoard as anything else

Reason#2
Bitcoin community is working on moving forward to increase the amount of transactions processed per block
– This will increase the ability of bitcoin to absorb new users and scale to meet more people
– From what I can tell, this is the main problem suppressing the bitcoin price AT THE MOMENT

Reason#3
Dun dun dun: THE HALVING!
Sounds like some kinda funky horror movie

If you don’t already know, IN JULY bitcoin will be halving the block reward.
-12.5 btc from 25 btc
-This will mean not only will mining be harder, but it’ll pay less
-Less NEW coins coming to market; this should help trading price
-Last time this happened was 4 years ago: making it a rare event|

Expect a similar move to what happened in Ethereum in March
– Bitcoin will rise until the day with a fall off for a while after the halving occurs
– It may take several months or longer until the effects of the halving are really felt and the price reflects the addition scarcity

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5 COMMENTS

  1. The DXY is in consolidation at this point, and it looks like a bullish flag formation having just emerged from a double bottom, so over the longer term we could be looking at a higher dollar index.

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