Bitcoin is stuck- A Bullish Reversal is Coming
Bitcoin has been traveling sideways since January, and despite a bullish push over $4,100, has shown signs of leveling out in price. Will the coming adoption of the Lightning Network move the price? Will Bitcoin break it's key resistance level of $4,100 in Quarter 2 of 2019? Signs point to yes.
Bitcoin has been stabilizing as the Lightning Network and further adoption have been occurring in 2019. Bitcoin has seen a record number of transactions on its blockchain ledger. Larger grocers including Krogers, Starbucks and vendors of coins and currency including Coinstar have stepped into the space.
Bitcoin has seen a record of 367,000 transactions per day in February. This is a step in the right direction for mass adoption. The Lightning Network works, and makes micro transactions possible and feasible. Essentially, the scaling problem is being solved.
I expect quarter 2 of 2019 to be big for Bitcoin. With global instability over the horizon, adoption of Bitcoin by large traditional businesses and the Lightning Network powering up, Bitcoin is getting ready to rise.
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