• Latest
Many Factors Now Point To An Impending Market Recovery

Many Factors Now Point To An Impending Market Recovery

April 19, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Trading

Many Factors Now Point To An Impending Market Recovery

coinnewsdaily by coinnewsdaily
April 19, 2019
in Trading
0
Many Factors Now Point To An Impending Market Recovery
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
naga review unveiling the platformac280c299s copytrading value proposition 1[1]

3 Facts Points Out BTC To Surge Extremely In A Week: How To Seize The Chance to Profit?

April 20, 2022

Bitcoin’s price recovery continues spur optimism among blockchain advocates, as it is increasingly looking like the months-long bear market is at an end. The flagship cryptocurrency has now spent more than a week above USD $5,000, bringing with it many alt coins, some of which are now at 2019 highs. As significant as these rising fiat values are, a wide range of ancillary evidence is pointing to a market reversal and a much greater move into the crypto space by individual and institutional investors.

The unique nature of blockchain assets make determining clear values a very difficult. Many factors can contribute to a platform’s value that are not reflected in its market cap. In the case of Bitcoin, transaction volume is a key metric to follow, and it is sharply moving up. Daily transactions are up twenty-five percent this year, from around three hundred thousand in January to around four hundred thousand this month. In fact, this is the first time that Bitcoin has broken the four hundred thousand mark since its all time high in January, 2018.

Bitcoin’s mining difficulty also reflects a growing public interest. Although the rate has been volatile, it has gradually increased since January after a months-long decline during the last quarter of 2018. If it continues to grow at its current rate, Bitcoin difficulty will reach an all-time high by the end of June. Other proof-of-work (PoW) cryptocurrencies are also seeing a resurgence in mining. Litecoin, for example, has seen its difficulty rise all year, and has already eclipsed its all-time high.

Additionally, Internet and social medial activity around cryptocurrency is increasing. Google searches for terms such as “Bitcoin” and “Cryptocurrency” are at their highest point since last November, as are Twitter hashtags. The number of Youtube videos covering blockchain topics also appears to be growing.

Perhaps the most significant uptick in blockchain activity is platform development and business adoption. Both have been on an upward trend for years, and have not slowed during the recent market decline. Virtually all business sectors have come to appreciate the potential of distributed ledgers, and most major companies are investigating its adoption. Likewise, many platform teams are making significant progress on their roadmaps, and a more clear picture is beginning to emerge as to which are truly on track to bring their projects to completion.

The positive trends should nonetheless be observed with caution, as crypto activity is extremely volatile. Also, during the past two Aprils prices and activity have both increased, only to drop from May to July. It is thus far too early to determine if the current uptick is permanent or temporary.

For now, signs are pointing to a new wave of crypto adoption that promises to be far more significant than mere market improvement. The public is once again gaining trust in the blockchain technology that drives cryptocurrency. Although there is still significant progress to be made before blockchain can be considered mainstream, perhaps it is time to declare the bear market recovery underway.

Featured Image via BigStock.

Credit: Source link

Tags: blockchain technologyCrypto TradingGoogleminingTradingTwitter
Share76Tweet48
Previous Post

NYDFS: Why We Rejected Bittrex’s Application for a BitLicense

Next Post

Aragon Vote Aims to Restrict Ethereum App from Funding Polkadot Blockchain

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
naga review unveiling the platformac280c299s copytrading value proposition 1[1]
Bitcoin

3 Facts Points Out BTC To Surge Extremely In A Week: How To Seize The Chance to Profit?

April 20, 2022
here's how ether options traders could prepare for the proof of stake migration
Ethereum

Here’s how Ether options traders could prepare for the proof-of-stake migration

April 20, 2022
Pro traders know it’s time to range trade when this classic pattern shows up
Ethereum

Pro traders know it’s time to range trade when this classic pattern shows up

April 17, 2022
ethereum derivatives data shows pro traders are bearish, but for how long?
Ethereum

Ethereum derivatives data shows pro traders are bearish, but for how long?

April 17, 2022
price analysis 4/11: btc, eth, bnb, sol, xrp, ada, luna, avax, dot, doge
Bitcoin

Price analysis 4/11: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

April 11, 2022
Load More
Next Post
Aragon Vote Aims to Restrict Ethereum App from Funding Polkadot Blockchain

Aragon Vote Aims to Restrict Ethereum App from Funding Polkadot Blockchain

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$22,967.00-0.03%
  • ethereumEthereum(ETH)$1,580.10-1.67%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$305.060.20%
  • rippleXRP(XRP)$0.409496-0.79%
  • cardanoCardano(ADA)$0.3782861.06%
  • dogecoinDogecoin(DOGE)$0.085834-0.51%
  • matic-networkPolygon(MATIC)$1.088.05%
  • solanaSolana(SOL)$23.81-2.25%
  • okbOKB(OKB)$35.72-0.18%
  • polkadotPolkadot(DOT)$6.420.83%
  • shiba-inuShiba Inu(SHIB)$0.000012-0.52%
  • litecoinLitecoin(LTC)$87.73-0.72%
  • tronTRON(TRX)$0.0625331.58%
  • daiDai(DAI)$1.00-0.41%
  • cosmosCosmos Hub(ATOM)$12.97-1.63%
  • leo-tokenLEO Token(LEO)$3.848.28%
  • chainlinkChainlink(LINK)$7.214.75%
  • moneroMonero(XMR)$172.22-1.72%
  • ethereum-classicEthereum Classic(ETC)$21.70-1.87%
  • bitcoin-cashBitcoin Cash(BCH)$135.353.29%
  • stellarStellar(XLM)$0.0917630.33%
  • crypto-com-chainCronos(CRO)$0.080753-0.32%
  • filecoinFilecoin(FIL)$5.35-0.39%
  • algorandAlgorand(ALGO)$0.2473241.09%
  • vechainVeChain(VET)$0.0241144.41%
  • internet-computerInternet Computer(ICP)$5.82-0.52%
  • aaveAave(AAVE)$86.850.80%
  • eosEOS(EOS)$1.101.74%
  • theta-tokenTheta Network(THETA)$1.127.21%
  • elrond-erd-2MultiversX(EGLD)$43.49-0.85%
  • tezosTezos(XTZ)$1.100.36%
  • paxos-standardPax Dollar(USDP)$1.000.33%
  • bitcoin-cash-svBitcoin SV(BSV)$43.880.12%
  • huobi-tokenHuobi(HT)$5.03-1.11%
  • havvenSynthetix Network(SNX)$2.44-0.30%
  • iotaIOTA(MIOTA)$0.2370404.27%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.970.57%
  • zcashZcash(ZEC)$45.961.80%
  • makerMaker(MKR)$655.39-1.62%
  • neoNEO(NEO)$8.241.26%
  • dashDash(DASH)$51.071.75%
  • zilliqaZilliqa(ZIL)$0.0285222.54%
  • basic-attention-tokenBasic Attention(BAT)$0.261439-1.24%
  • compound-governance-tokenCompound(COMP)$53.664.74%
  • nemNEM(XEM)$0.0392353.28%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$34.891.18%
  • bitcoin-goldBitcoin Gold(BTG)$17.29-7.78%
  • qtumQtum(QTUM)$2.670.65%
  • wavesWaves(WAVES)$2.6415.70%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • sushiSushi(SUSHI)$1.321.01%
  • yearn-financeyearn.finance(YFI)$7,498.81-1.84%
  • golemGolem(GLM)$0.2450613.59%
  • omisegoOMG Network(OMG)$1.472.29%
  • ontologyOntology(ONT)$0.2180801.18%
  • digibyteDigiByte(DGB)$0.010819-1.92%
  • umaUMA(UMA)$2.03-1.86%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%