Great future for Bitcoin and cryptocurrencies
2020 is a promising year for Bitcoin and cryptocurrencies. Not only are prices expected to start an upward trend, but also a great development is expected in the different Blockchain technologies.
Bitcoin to the moon?
2020 is a promising year for Bitcoin and cryptocurrencies in general. For Bitcoin, 2020 is very special because a new halving will arrive approximately in mid-May, in which the production of new Bitcoin will be reduced by half and generate greater market shortages, which will consequently have an effect of appreciation of Bitcoin . A few months after halving, the price of Bitcoin is giving clear bullish signals that inject much optimism into the market for the future.
However, halving is not the only reason that drives the appreciation of Bitcoin. Most analysts agree that the adoption of cryptocurrencies as means of payment for everyday use is the main reason why the price of cryptocurrencies experiences a great appreciation. The halving combination, which will cut Bitcoin's offer, and increasing adoption should be enough to boost prices upwards. The problem that Bitcoin has to solve in order for mass adoption to occur is the scalability of its transactions. The Lightning Network is increasingly developed and is positioned as one of the best technologies to solve the problem of scalability and cost of transactions in the Bitcoin network.
With mass adoption underway, the regulation of cryptocurrencies will be very important for the market. Different countries in North America, Europe and Asia are already developing cryptocurrency regulation projects that protect users without resulting in a discouragement of innovation in new technology fields. With the regulations already established, the cryptocurrency market will be immensely attractive to institutional investors and this will bring cryptocurrency prices to figures that we cannot imagine today.