Bitcoin Headed Back to $20,000
Bitcoin's use case has been solidified through the Lightning Network, and after Kroger moved to remove Visa from 250 stores in protest of their fees, Bitcoin could fill the gap. The coming Bitcoin futures, ETF and market turmoil will bolster Bitcoin and push it back to $20,000 sooner than later.
Bitcoin fell below $4,000 to its previous resistance level of $3,600. This was the result of Bitcoin longs taking profits after a $600/coin run-up. This happened organically, and was not the result of short selling. The value of Bitcoin is derived from it's mining cost, transaction use case, store of digital value and driver of the Cryprocurrency Market with a dominance measure of >50%.
Bitcoin and the Cryptocurrency Market at large will rise in Q2 2019. The Lightning Network will enable the price of Bitcoin to rise, and eventually stabilize based on transaction volume. The use of the Lightning Network will bring Bitcoin in line with its 2009 whitepaper as well.
What do you think? Will we see a $20,000 Bitcoin this year?