With all the popularity that Bitcoin has found, lots of people are asking when bitcoin will rise? Of course, no one knows when Bitcoin will rise or fall in price. We do know that it has been on the rise for more than 12 years, and it just survived a brutal bear market that saw its price fall from nearly $20,000 to less than $4,000.
The only thing that is certain in the financial markets is that a government will be looking to tax profits, so when Bitcoin went bust in late 2017, no one really knew what would happen. While Bitcoin has survived other bear markets, this time the price was much higher.
It looks like the great Bitcoin bust of 2017 is now officially over, as Bitcoin has traded within the $17,000 level as 2020 comes to a close. We don't know if this is just the start of a time of higher Bitcoin prices, or if it will need to consolidate further before moving higher.
One thing to notice is that unlike 2017, there is a lot of participation from established investors. Wall St. is buying Bitcoin, and many other global investment hubs are getting into the market. This bodes well for Bitcoin prices in the medium-term, as the Bitcoin market is still quite small when compared to stocks or government bonds.
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