It looks like Bitcoin will continue to defy all odds for a long time. Despite the constant attacks of its critics, which often call it a scam or worse, the crypto world is more bullish than ever now.
Now we got the Consensus 2019 conference set to happen in New York and the whole world will be able to see just how fine Bitcoin is doing.
Nobody Can Keep Bitcoin Down
The market is currently doing very well despite many problems which could have made its value go down. In the last few weeks, we have seen several occurrences of problems that could have impacted the market much more. A crypto user called Dovey Wan talked about them on Twitter.
According to the Twitter user, four problems that the market has faced recently include the whole Bitfinex/Tether fiasco, in which the first company was insolvent and it took money from the stablecoin, the Binance hack which made the largest exchange lose a lot of Bitcoin, the document released by FinCEN trying to regulate the market and the attempt to ban BTC in the U. S.
The Bitfinex case happened after the company was not paid $800 million USD by one of its payment providers Crypto Capital, a company which is being investigated by the authorities. This prompted Tether to lend money from its stablecoin, which caused a U. S. General Attorney to denounce the company for fraud.
Binance lost 7,074 BTC during a hack. The company was considered one of the most secure exchanges in the world and it lost the money anyway, which was very worrisome for the clients.
The document of FinCEN revealed a complex regulation for wallets and exchanges that will have to inform the government of the move of their clients in order to be compliant with the law.
Finally, there was the attempt to ban Bitcoin which was started by the U. S. Congressman Brad Sherman yesterday. He affirmed that an international token like BTC could undermine the strength of the USD, which would weaken the government of the United States.
US-China Trade War and Brexit Could Benefit Bitcoin
The fact is that despite all these issues, the prices are still going up, being around $6,350 USD at the time of this report. Also, there are several reasons to believe that some global events might push BTC up even more.
Other aspects which may influence the market now are Brexit and the US-China Trade War, for instance. Brexit is causing quite a trouble for the United Kingdom, which is known as an important hub.
The confusion caused by the trade war between the two potencies of the world could also be huge for BTC. This looks like the perfect time to bet on the crypto world since it has grown in price in over $1,000 USD in the last month.
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Bitcoin’s price is $6,378.69 BTC/USD exchange rate today. The real-time BTC market cap of $112.86 Billion currently ranks #1 with a chart dominance at 58.20%, daily trading volume of $5.68 Billion and live coin value change of BTC 3.43 in the last 24 hours.
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