Since its inception 10 years ago, bitcoin has always been in the news for both good and bad reasons. Either kind of news can suggest its future while also telling us what it can pertain to. We are going to discuss some of the best and worst news of the year, which either had a positive or negative connotation for the cryptocurrency. We are going to do it in this order, one good and one bad and then again one good and one bad. See below for these news’ excerpts that pivoted its market, ultimately.
April 29, 2019 (Best)
On this day a mysterious twitter hand began to tip a considerable sum of bitcoin to its followers without any of their idea what was happening. The lucky targets were random individuals and many non-profit organizations. This had happened to be pivot the market in a positive side as most of the tips were given to organizations and individuals who were crypto luminaries and fond of the currency. Hence many tips like these amounted to around $10,000. The news had an effect on the market, which leaned it towards a positive direction as the coin was getting extended visibility.
July 24, 2019 (Worst)
Since the past previous week, Bitcoin has been on the defensive. It has been falling in rate for the fourth consecutive day. While on July 17 it went to an all-time low of $9,049 (which by the way bounced back), it now stands at a lower high of $11,120. It is lower than the usual number on which it stays when it is in a positive direction. This kind of news does not bode well for the coin traders, therefore it may still go down much more in the near future.
July 25, 2019 (Best)
As bitcoin price fluctuations go, this was a bit of good news. Instead of going down, the coin bounced back with incredible ease, reclaiming the $10,000 spot, which is the psychological price point barrier. This kind of news gives hope to the investors of bitcoin or BTC as it is known in the markets. While it is still short of its usual intra-week high ($11,000) it is still a good growth which otherwise was not expected. This will give new confidence to the investors of the bitcoin.
July 24, 2019 (Worst)
While the numbers are rising, they may not be there for so long as US Treasury Secretary voiced his concerns over bitcoin. This may affect the market as the treasury has usually seemed to do so. He says, “I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation”. This statement can kind of put a dent in the market and trade is going to take it lightly. As investors, people are going to lose confidence in it due to the statement. For this reason, it may very be bad news which could pivot the market in a bad direction.