The cryptocurrency market has been gaining ground and seeing significant growth and innovation over the past few years. The market has witnessed a surge in demand for digital currencies, and one of the prominent ones that has grabbed everyone’s attention in recent times is Bitcoin (BTC). BTC has garnered popularity as it has become a medium of exchange, and its volatile nature has caught the attention of investors in the market. As we head into the second half of 2021, it is time to take a closer look at BTC and what is next for this bullish-rated crypto.
Bitcoin: An Overview
Bitcoin, the first decentralized digital currency, was released in 2009 by an unknown person or group people operating under the pseudonym Satoshi Nakamoto. It gained popularity soon after its release, and by 2013, it became the world’s largest cryptocurrency. Bitcoin is powered by blockchain technology, which ensures that transactions are secure and transparent. It has a limited supply, as only 21 million BTC will ever be in circulation, and the demand for the cryptocurrency continues to grow, with the current value hovering around $50,000. The market capitalization of BTC is over $1 trillion, making it the largest cryptocurrency in terms of market value.
Why BTC is Bullish Rated
The bull trend refers to a market condition in which the price of an asset is increasing over time. The bullish rating suggests that the market trend will remain upward and is expected to continue to increase. BTC has been on a bullish run since April 2020, and the trend has continued into 2021. The cryptocurrency reached an all-time high of $64,000 in April 2021 but experienced a significant price correction since then. However, the cryptocurrency has not lost momentum, and after the correction, BTC bounced back to reach a significant level around the $50,000 range, which shows that the bullish trend is still in play. There are several factors that contribute to BTC’s bullish rating.
Bitcoin adoption
One of the most significant factors contributing to BTC’s bullish rating is adoption. Bitcoin’s adoption rate has grown at an astonishing pace in recent years, with investing companies, financial investors, and other institutional investors showing more interest in the cryptocurrency. PayPal, one of the world’s leading online payment systems, announced it would start allowing its customers to buy and sell BTC on its platform. Other companies such as Tesla and Square are also investing in BTC, which has increased investor confidence, propelling the price of BTC higher.
Digital Currency as a Hedge Against Inflation
In several countries, the value of their local currency is plummeting, and people are looking for alternative investment options. BTC has gained traction as a store of value against inflation, providing an alternative to a country’s currency. Its limited supply, zero central bank involvement, and extended adoption support it as a hedge against inflation in the long term. This situation creates a constant demand for BTC, forcing its price upward.
Macro Trends
Macro trends such as negative interest rates or geopolitical tensions also fuel BTC demand. In countries or regions where negative interest rates are prevalent, people are looking for alternative stores of value, such as gold or BTC. Furthermore, when geopolitical tensions arise, investors typically turn to safe-haven assets as a store of value. BTC has been known to provide refuge against inflation and international trade issues, which typically causes an increase in demand for BTC from investors.
What’s Next for BTC: Bullish or Bearish?
The price of BTC has been experiencing volatility in recent years, with swings in price being a regular occurrence. BTC’s trend and the direction of the cryptocurrency depends on many factors. Global financial events, adoption rates, industry regulations, and many other factors are likely to sway the cryptocurrency’s direction. In light of recent news and events, BTC’s outlook appears bullish, with several factors pointing in favor of the cryptocurrency.
Adoption by Instituions: As discussed earlier, institutions like PayPal and Square are investing in BTC. With increasing institutional adoption, there’s renewed hope for the digital currency. Moreover, traditional banking institutions are also showing interest, which is likely to drive its price up.
Government Regulations: Cryptocurrency is yet to be fully embraced and endorsed by several governments worldwide. However, with more countries exploring the possibilities of rolling out their cryptocurrency, we may enter an era where more and more governments accept Bitcoin and other cryptocurrencies as legal tender, which could contribute significantly to their price growth.
Increasing Investment Flow: Again, it’s related to adoption. More people are starting to understand that Bitcoin is not just another speculative asset. They are beginning to understand it’s more valuable and worthy of an investment of their money. As such, the capital flow into Bitcoin is rising, as are its prices.
Macro Factors: The global economy is in a state of turmoil, and governments worldwide must take steps to minimize the damage that the COVID-19 pandemic has caused. As such, it wouldn’t be surprising if more facilities worldwide reduce interest rates and print more money. This can ignite another wave of interest and demand for Bitcoin as the currency of the future.
Conclusion
BTC’s bullish trend is a clear indication of the potential of this digital currency. Its limited supply, technological innovation, increasing adoption by businesses, and growing demand for an alternative store of value means that it is likely to continue to experience growth in the future. With several macro factors and institutional adoption, BTC is looking at a bullish future. For investors, it could prove to be an excellent investment opportunity, given its fundamentals that make it a unique store of value.
In the world of cryptocurrencies, Kepple (QLC) has emerged as a strong contender lately. In fact, it has received a bullish rating from InvestorsObserver on Saturday, which has sent its price soaring 217.86% to $0.01070597266.
While the broader crypto market is up 1.19%, Kepple has outperformed by a large margin. This is a clear indication of its potential for growth in the near future. InvestorsObserver’s bullish sentiment reading adds further weight to this argument, making it an attractive pick for both short-term and long-term investors.
The Sentiment Score is a quick and short-term measure of a crypto’s recent performance. This can be useful for investors looking to either ride a rally or buy the dip. In the case of Kepple, the bullish sentiment score is an indicator of its recent performance, which is impressive compared to its peers.
Kepple’s current price is above resistance, with support set around $0.00233274267869712 and resistance at $0.00390564557513864. This makes Kepple potentially volatile if the rally burns out. However, the fact that its price is already above resistance is a positive sign for those investing in this crypto.
Another notable feature of Kepple is its low trading volume, which means today’s volume is below its average volume over the past 7 days. While this may not be ideal for some investors, it does indicate that there is room for Kepple to grow in terms of trading activity.
It’s important to note that Kepple may be less suitable for some investors due to a lack of data available. However, this should not deter those who are willing to take a calculated risk given Kepple’s impressive performance in recent days.
In conclusion, Kepple is one of the most promising cryptocurrencies in the market today. Its strong performance, coupled with InvestorsObserver’s bullish sentiment score, make it an attractive pick for investors looking to capitalize on its growth potential. Although there are some risks involved, Kepple’s upward trajectory is likely to continue in the near future, making it a valuable addition to any investment portfolio.
