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09 Jun 2020

Top Cryptocurrency Trends in 2020

Cryptocurrency has always been an unknown element in the trading market. It has been more than a decade since the first cryptocurrency hit the market. When the cryptocurrency was first introduced in the market it was considered as one of the trends that will soon fade away. But it has already been 10 years and the Cryptocurrencies are still in the trends.

Cryptocurrencies are supported by the blockchain technology that made them safe and secure. The cryptocurrency was launched in the market as a digital currency, but with time, it has become one of the most invested digital assets.

The rise of the Cryptocurrency popularity took a huge positive curve after 2017. In 2017 the price evaluation of the Bitcoin reached its peak (close to $20K). This single event made the cryptocurrency popular overnight. Traders and investors from all over the world started showing their interest in the cryptocurrency trade.

2019 was a decent year for the cryptocurrency. Crypto traders and investors were able to make huge profits out of the crypto deals. Some of the experienced crypto traders are predicting that 2020 will be the same.

We are already in 2020. The cryptocurrency trade market is as volatile as ever. But the trade market is hoping something new from the Cryptocurrency this year.

With all the trends that is hovering in the trade market, traders and investors believe that the price evaluation of the bitcoin might reach the $20K mark again.

 

Cryptocurrency trend in 2020

The Cryptocurrency trade market was stable since past couple of years. There were no significant trends that could have been considered that could have affected the price evaluation of the cryptocurrencies. But 2020 has certainly brought some of the trends that might change the cryptocurrency trade for good.

Let’s have a look at the Cryptocurrency trend that we might encounter at the end of 2020.

 

Bitcoin Halving

The only event that you can think that have a direct impact on the price evaluation of the Cryptocurrency is Bitcoin Halving. It is a process of reducing the incentive price of successfully transacting of one block of Crypto information.

For instance, the current price for evaluating one block of Crypto mining is 12.5 bitcoins. After the Bitcoin halving, the price of the one complete mining process will reduce to 6.25 bitcoins only.

History has provided that the bitcoin halving creates a scarcity of the cryptocurrency in the market. This made the crypto traders trade in Cryptocurrency to fill the scarcity gap. In the midst of this process the price evaluation of the Cryptocurrencies greatly increases.

The main purpose of the bitcoin halving is to create demands in the market when the bitcoin is reaching a point of saturation.

 

Facebook Libra

With how the cryptocurrencies are performing on the world trade market. Facebook was able to understand the potential of the cryptocurrencies and decided to launch its own Cryptocurrency “Libra”. Libra is a stable coin. Here stable coin means that it is a stable asset and will have little fluctuation with the price evaluation (less volatile). Libra is supported by the Coinbase, Vodafone, Uber, and the family members of the Kushner.

 

Market Consolidates

With the two important events occurring in the same year, traders and investors are predicting that it will leave a huge impact on the trade market. This is the reason why traders have already started diversifying their portfolio. This event surely has increased the number of portfolios on the crypto trade platform. But the total market value of the cryptocurrency is yet to change.

 

Conclusion

The events mentioned will surely bring a huge change in the system of Cryptocurrency trade. The market has already predicted an outcome and has started preparing itself to absorb the impact of the above-mentioned events. If you are also one of the fellow traders, you can also diversify your portfolio with the help of the bitcoin-fortress.

 

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