Bitcoin Price Prediction: How Far Could The Bitcoin Bull Run

Bull Run
Bitcoin Price Prediction: How Far Could The Bitcoin Bull Run

The state of world economies has billions of people in a financial frenzy. Between riots and lock-downs, there’s a large stalemate of cash in the world. In late April, the world even saw new, higher highs in bitcoin suddenly take a sharp dive. By May, bitcoin left its $64,000 high and fell to $47,000 before settling at $55,000 USD per coin. The sudden drop has investors wondering about the future prospects of all crypto. The peak that bitcoin soared to while in the midst of a global pandemic has been historic to say the least.

Is the Bitcoin Bull Run Over Yet?

The answer is yes and no. For the time being, the market’s steam is gone. Many investors agree; it’s safe to assume the causes as both natural and relative. The natural aspect of prices falling after rising like this is called a retracement. Just before going back up higher, prices sometimes range downward as if the market has shifted. This is only one potential case. The world must also remind itself that cash-flow is a major issue when economies are only partly open. Experts see the slowed pace of Bitcoin as a result of poor cash flow. Here, however, are more reasons why bitcoin is still a buy in most people’s portfolios:

Portfolio Management: Portfolio management is a financial service that builds investment and retirement funds. The agencies offering investment management are including bitcoin into their manageable assets.

Mobile Trading: Bitcoin is contagious, and this means that the personal relation we have with mobile technology can make bitcoin irresistible. It takes little time to open a trading account and even less for some to find a winning trade.

Payment Processing: Cryptocurrencies, thanks to the safety of blockchain, continues to outperform cash and card transactions. Being suitable for online payments makes items like bitcoin still relevant.

Global Economies: Global population does influence how many people have access to trading, yet the wealth of these nations is what makes the biggest difference. Many Third World nations who once lacked competitive-middle classes are now buying bitcoin alongside Americans too.

Where Will the Bitcoin Bull Run Go?

The experts at SoFi are optimistic to share expectations about bitcoin’s rising value. The next crypto bull run by SoFi is based on first seeing the current market as temporary. Until world economies heal and begin trading again, it’ll be difficult to say that the popularity of bitcoin has faltered. No one can say just how far bitcoin can continue upward. Since the entire world has yet to accept cryptocurrency, most investors are content to be bullish. It’s these investors who will bring bitcoin back into the spotlight if its price rises.

Investors might be better served if they anticipate a rebound in bitcoin now. That rebound might be delayed, but preparing your move before it’s necessary could be profitable.