In this multiple-article series, we have been diving into the rollercoaster ride for Bitcoin and cryptocurrencies. Each week conflicting reports surface from around the globe stating that Bitcoin is either the future or the demise of the financial system. As a result, it can be difficult for investors to determine whether Bitcoin is a buy or a sell.
In the first article titled, "Bitcoin Banned By Bank Of America - Why It Will Rise Despite Naysayers," we looked at the reporting surrounding Bitcoin, why banks and governments are shunning cryptocurrencies, and why the news is not nearly bad as it has been reported.
In this second article, we'll delve into the positive developments that lie beneath the surface and how they should provide a nice lift to demand for Bitcoin and digital assets. In fact, the future looks bright for Bitcoin and cryptos, in my opinion. In my next article, we'll analyze the charts and the likelihood of Bitcoin making another run to $19,000.
The recent surge in volatility impacts those investing in the Bitcoin Investment Trust (OTCQX:GBTC) or following the ongoing developments if the first Bitcoin ETF through the Winklevoss Bitcoin Trust ETF (COIN).
Below is a chart showing Bitcoin is up 750% since July of 2017, despite the recent pullback. I'll delve into specific breakout and trading levels in my next article.
Recent Signs That Bitcoin Will Move Forward:
Despite recent negative reports surrounding blockchain technology, Bitcoin is gaining acceptance.
Online broker, E-Trade (ETFC) has announced their platform will trade Bitcoin futures from the CME group. This follows last month's decision to trade CBOE futures under (XBT). Other brokers are following suit and they include Interactive Brokers (IBKR) and TD Ameritrade (AMTD).
A Bitcoin ETF is looking more likely. Any positive developments regarding an ETF for Bitcoin or
