With the price hovering around the $9,000 USD mark, Bitcoin investors are anticipating a significant movement soon. Noted as ‘Boring’ to some in the cryptocurrency community, investors hope this token aims to prove them wrong. At the time of writing, Bitcoin is sitting at $9,193.45 USD, which is still significantly conservative. Despite this lower value, enthusiasts look forward to the 3rd quarter of 2020 for a more positive upward movement.
Bitcoin’s 2020 Movement So Far
2020 has been quite the volatile year for Bitcoin so far, as well as other digital assets in the market. With the ongoing worldwide Coronavirus pandemic, financial markets have been impacted considerably, cryptocurrency included. Despite this, Bitcoin investors were hopeful considering that Bitcoin hit its 3rd halving event during the 2nd quarter of 2020.
The 1st quarter of 2020 brought Bitcoin’s value down 10% overall, showing its market unpredictability. Even more so, Bitcoin investors remained hopeful as the countdown began for the halving that was scheduled for May. Indeed, Bitcoin didn’t disappoint crypto enthusiasts when this big event took place on May 11, 2020, and moved as predicted. With the 3rd quarter now underway, Bitcoin investors are crossing their fingers for a bigger movement.
The last half of 2020 aims to give crypto enthusiasts what they are looking for as Bitcoin reaches higher. Bitcoin investors are hopeful this token will break the $10,000 USD mark and continue to rise. Some predictions are going above and beyond the $10k and confident that Bitcoin will outperform all others this year.
Bitcoin Investors Speculate on The Market Results
There could be any number of reasons why Bitcoin’s movement has been somewhat stagnant, compared to previous months. As the dust settles from the momentous halving in May, market prices begin leveling out, showing Bitcoin investors its stability. Even though there hasn’t been much drastic change lately, Bitcoin is still the preferred choice for many worldwide investors.
2020 3rd quarter predictions are similar to that of previous years when halvings took place. Examining long-term predictions for this digital asset is positive, considering it is 11 years old and still a popular choice. Bitcoin investors are not immune to the ups and downs of the market and are in for the long haul.
What’s in Store for Bitcoin?
The predictions are everywhere you look in the crypto communities. Bitcoin is one of the more commented on digital assets to date. Recently, there has been an influx of new addresses, giving Bitcoin investors the expectation of a drastic upwards rise soon. Looking back, the last time an increase of addresses happened was in 2017, so change is expected.
Although many enthusiasts are waiting to see how the next quarter pans out, Bitcoin continues to hold its own. Being one of the oldest cryptocurrencies around is not taken lightly, and Bitcoin continues to help make market trends. One thing is certain, 2020 has been a fickle year for many cryptocurrencies with the raging worldwide COVID-19 pandemic. Despite this obstacle, Bitcoin investors remain hopeful and look forward to Q3 for higher returns.