Bitcoin hasn't been as popular in 2019 compared with other cryptocoins due to governments around the globe adopting stricter regulations. These talks have had a negative effect on the general market of the cryptocurrency economy. There have been strong gains for the American dollar as a whole while European powers are chugging along but that has not been enough to improve public support behind blockchain technology overall. Bitcoin and other cryptocurrencies need to generate buzz on social media to promote their coins and ensure that their format is efficient.
Bitcoin's price today could have been massively higher, but with negative press and the public not fully behind these projects, it's showing to us that Bitcoin is being held back. Although 92% is beyond impressive, many feel like they are tightening their wallets over the next few months as a storm feels imminent.
Bitcoin will likely remain the dominant cryptocurrency for years to come so don't bet against Bitcoin just yet. Bitcoin still has a long way to go, and it will soon enough face its younger altcoins that may come to fruition in 2020. 2020 is going to be a great year for cryptocurrencies as a whole, and Bitcoin has not stopped growing. With the slump since the new year, Bitcoin will end 2020 very strongly, possibly over $8,000. What are your thoughts about this?
