Dear Hanbitco users,
As the Bitcoin market continued to fall, the bad news followed one after another, and we all thought last year would repeat itself.
However, there are various good reason that bitcoin will rise till the year-end.
There are plenty of articles that back up this prediction. So why not share the merry news with all our Hanbitco members!
The half period is approaching
- Mining coins, including bitcoin, tend to increase in price around halving when mining compensation is reduced by half. Bitcoin is about to have its halving in May 2020.
- One example of the price increase in coin was caused by the expected halving sentiment. Light Coin, which experienced halving in August 2019, had a 50% increase in market value ahead of the halving.
- The last halving of BTC was in July, 2016. Bitcoin at that time was $657, which means it’s price rose up to approximately about 50 percent from the beginning of the same year.
Fake news and FUD settlement
-A crazy amount of bitcoin market value has evaporated after the news spread that Chinese President Xi Jinping said “ Crypto currency is a ponzi scheme”. Later, many media reported that the remarks were fake news.
- On the same day, Korean Exchange Bithumb had rumors of their Shanghai office closing up. But later they clarified that the news wasn’t true.
- Bitcoin prices, which have plummeted due to a series of fake news are now on the mend after all the clarification. While the impact of the FUD is quickly reflected in the market price, the price increase due to good news and the elimination of the FUD is a slow reflection of the cryptocurrency market. Now the price of Bitcoin is on a gradual recovery track.
Investor’s Hopes on Bull Market
- The term “Santa Rally” refers to the rising stock prices around Christmas. This is because year-end bonuses and consumer sentiment are reflected in share prices. In the cryptocurrency market, there is also a year-end market rally and a liquidity increase similar to the “Santa Rally.”
- The price surge in the cryptocurrency market, which began at the end of 2017, was a clear sign of the existence of crypto currency for general investors. And as a result, this created expectations for investors that they might be able to re-create the bull market at the end of the year. In fact, Bitcoin had a price increase at year end 2014, 2016, and 2017.
- Recently, there was a massive hacking incident at a large cryptocurrency exchange in Korea. Given the evolution of the entire cryptocurrency trading ecosystem, it must be a huge unfavorable factor. However, for individual investors who aren’t able to deposit and withdrawal their tokens will come to immediate profits due to the temporary suspension of payments. In fact, Altcoins had a huge price surge since the damage notice of exchanges. The ‘end of the year’ incident and the massive hacking incident might result a surge in cryptocurrency prices.
If there’s an increase in the market, why not get a 10% annual revenue as well?
Hanbitco would like to introduce you to a product where you can earn an annual fixed income on the Bitcoin rise. It’s Hanbitco’s Bulldax, A fixed-income service.
For more information check: https://www.hanbitco.com/
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