Bitcoin Price Falls, But It Will Soon Rise Thanks to These Bullish Factors
The massive drop we saw Thursday in the Bitcoin price did not scare crypto investors who are still bullish, and there are more factors that show BTC price will soon rise again.
On September 24, Bitcoin dropped around 13%, but experts believe the bull market will return. Here are some thoughts from crypto analysts on this prediction.
“People are still bearish macrowise”
@CryptoMichNL, who is a trader and technical analyst, argues that many significant facts will trigger the growth of BTC price:
▫️ Bakkt launches and providing liquidity.
▫️ Second largest German Exchange in Stuttgart is going to provide $BTC trading.
▫️ SoFi is launching a crypto trading platform.
And people are still bearish macrowise.
I don't get it.
— Crypto Michaël (@CryptoMichNL) September 25, 2019
One of the events showing Bitcoin and crypto assets should become more accessible is Bakkt’s decision of launching Bitcoin futures.
The second major fact is that Boerse Stuttgart Group has launched the Boerse Stuttgart Digital Exchange (BSDEX), which will trade Bitcoin.
The third fact is that the finance management firm SoFi is now accepting crypto (BTC, LTC, and ETH) to the SoFi invest platform and users from 30 states in the USA will be able to use the service.
SoFi CEO Anthony Noto stated in an interview with SquawkCNBC that “Cryptocurrency was the number one incremental product they wanted on the platform in addition to the other products we have.”
Another essential factor that should make Bitcoin price go up is Binance’s new option which was announced on September 25:
“As part of Binance’s mission to increase the adoption and mainstream accessibility of crypto, users will now be able to use Visa and MasterCard to buy BTC, ETH, LTC, XRP, and BCHABC using Koinal, and start trading on Binance.com within minutes.”
Moreover, crypto analyst Pomp tweeted a chart, arguing that “everyone was screaming about Bitcoin’s hash rate drop yesterday. Today it has recovered.” However, he agreed that “hash rate data is an estimation and shouldn’t be counted on for accuracy in short, fixed periods of time.”
We will just have to wait and see how much BTC will rise in the next days, as the factors we mentioned above should be a recipe for success.