What Does Bitcoin (BTC) Need Right Now?

After several months of stability in a period were Bitcoin (BTC) managed to trade in a narrow band, the digital asset price suddenly dipped. It began last year from a $6,500 high to a $3,500 (all time) low at the end of the first week of November. This fall occurred in just two weeks. In an era where everyone thought we were starting to enter a whole new period for Bitcoin (BTC) and other cryptocurrencies, we have fallen back to the days of the virtual token rollercoaster. At some point in a 24-hour period, the Bitcoin (BTC) price managed to stay within the $3,448 and $4,101 levels.

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$3,610.00
1.20%

Bitcoin (BTC) Has Also Given Investors Concerns in the Past

This is not the first time that the top digital asset by market cap has given investors a bumpy ride. We can agree that a 50% loss of Bitcoin’s value is soft compared to the massive 87% collapse that happened between November 2013 and August 2015. The 83% collapse that occurred over a two-day period in April 2013 is also a reference. The 94% collapse of the Bitcoin value during a five-month streak in 2011 is also cited as one of the most horrid periods in the history of the crypto.

One constant factor to reference here is the fact that Bitcoin (BTC) always recovered from each of the dips. Hence, we have reason to believe that Bitcoin (BTC) will soon recover from this one as well.

What Bitcoin (BTC) Needs After the Collapse from 2018

Bitcoin (BTC) urgently needs stability (something the digital asset needs more than any other coin). The moment the cryptocurrency starts to trade in a narrow band permanently, we will start seeing other major digital coins following. It will be easier for speculators to predict coin price actions and ICOs in a similar way to what stock traders do and everyone can be contented with holding a digital asset bought at a discount a few years back.

Businesses that are hoping to accept Bitcoin (BTC) do not need institutional investors coming into the crypto space. Yet, because Hedge funds and banks typically add liquidity, which inevitably gives crypto a vote of confidence and shows other investors that Bitcoin (BTC) is a safe bet ultimately brings stability.

Institutional investors have entered the ecosystem as reports indicate that they have replaced the high net-worth individuals to become the biggest buyers of crypto in transactions worth at least $100,000. They came into the scene because of a few signs of stability; they didn’t bring stability.

Businesses Also Need Stability

Typically businesses will require stability because what they actually need is a swift return to the good old days when merchants willing accepted Bitcoin, and consumers were willing to spend the digital money.

We need to understand that Bitcoin (BTC) wasn’t created to make millionaires out of visionaries and impose losses on every other investor who bought and sold the digital asset at the wrong period. Rather the top asset class was meant to make the completion of international transactions much easier and straightforward. It was created to operate as a means of providing a manipulation-free buying and selling activities. Bitcoin (BTC) was designed to provide the internet with the type of financial service it always lacked for many decades.

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