Current Bitcoin Price Rally Is Different From Past BTC/USD Value Increases: Accessing 18 Months of Change


Bitcoin’s price is $47,219.68 BTC/USD exchange rate today. The real-time BTC market cap of $880.43 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $18.11 Billion and live coin value change of BTC -4.64 in the last 24 hours.

Live Bitcoin (BTC) Price:

1 BTC/USD =$47,219.6771 change ~ -4.64%

Coin Market Cap

$880.43 Billion

24 Hour Volume

$18.11 Billion

24 Hour VWAP

$48.03 K

24 Hour Change

$-2,193.05

Barry Silbert, the founder and CEO of the Digital Currency Group, has recently been talking to Bloomberg about the crypto market and Bitcoin (BTC). The digital currency has recently increased its price and it has been operating positively. He has also mentioned that this Bitcoin price increase is different from past bull trends because of different reasons.

Bitcoin’s Current Price Surge Is Different

Silbert believes that the current infrastructure in the cryptocurrency market is completely different from the one that Bitcoin had in past price increases. This is going to make it easier for the digital currency to welcome new investors and individuals.

During the last weeks, Bitcoin was able to move from $4,000 to $8,300, which is more than positive for the crypto space. Meanwhile, the infrastructure that the market currently has is much better than in 2017 when Bitcoin reached $20,000, its all-time high.

Silbert said that the crash that the space experienced in 2018 was positive for the community. The same happened with the Initial Coin Offering (ICO) market that has also exploded in 2017 but fell throughout 2018. After this hard year, the market is now more mature and investors know more how to deal with digital assets than in the past.

At the same time, younger generations will be receiving $68 trillion of wealth that comes from the boomer generation. Although there will not be a 100% allocation in Bitcoin, many individuals are going to place some of these funds on the most popular digital asset. Meanwhile, investing in gold is similar to investing in central banks, because they manage these funds.

According to Silbert, Bitcoin has now institutional money coming in, something that in the past was not so clear. Indeed, it was difficult for companies to start investing in digital assets because there was no infrastructure developed for them. Now things are changing and are showing that it is possible for larger investors and firms to start entering the market.

The Intercontinental Exchange (ICE) is currently working on the Bakkt platform for larger companies and traditional investors to enter the space through physically backed Bitcoin futures trading. Fidelity Investments is also working on its own products and crypto-related services.

In the future, a Bitcoin exchange-traded fund (ETF) could be approved and it could help new individuals and other firms such as hedge funds to enter the crypto market. We have also talked extensively about the upcoming, t-minus one year bitcoin blockchain mining reward halving that has traditionally caused extremely positive upward pressure on the exchange rate value of BTC in USD.

Let's close this piece out by offering the latest crypto twitter community roundup regarding the latest bitcoin price action and analysis.

We also covered this story of Russell Okung, who just added this tidbit on $BTC price.

Be sure to check back today as we will plan plenty more news and updates about Bitcoin.

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