2019 was a positive year for the value of the bitcoins, with cryptocurrency prices almost doubling in twelve months. Although the bitcoin declined sharply in the second half of 2019, it began in 2020 with a bang.
So, what is expected in 2020? There are five top trends to look at in bitcoin this year.
Bitcoin Halving 2020
Half of the bitcoin in May is a key aspect of the 2020 bitcoin bill. This is a default event that occurs almost every four years where the number of new bitcoins created every ten minutes is cut in half. Instead of adding 12.5 bitcoins to each block as a subsidy for miners, 6.25 bitcoins will now be produced.
Opinions differ on how this event will affect the value of Wikipedia and whether it has already been marketed. Either way, it should be noted that only the last two episodes in the history of bitcoin have led to a significant appreciation in the value of corrupt assets in the coming months.
Bitcoin’s Transition to Digital Gold
According to the last six months of the year, bitcoin has been called digital gold for many years, but 2019 was the year when this meme became more realistic.
The bitcoin theory of digital gold became so common in 2019 that US Congressman Brad Sherman (D-CA) claimed that corrupt assets could be a threat to the US dollar’s dominance in the global economy. Are
At the beginning of 2020, the movement of bitcoins and the similarity in gold prices did not go unnoticed in the tensions between the United States and Iran.
However, long-term measurements of the correlation between bitcoin and gold still indicate that there is a very weak correlation between the two assets.
The use of digital gold is often referred to as Bitcoin’s core value proposition, so a close relationship with physical gold can indicate a high level of understanding and acceptance of this point by mutual partners.
kBesides, the introduction of digital currencies issued by the central bank could clarify the value of something like a bitcoin in the minds of the general public.
Schnorr, Taproot, and Tapescript
Unlike some of the smaller cryptocurrencies out there, bitcoins don’t often see serious upgrades (and for good reason). That said, there could be a big change in 2020.
Schneider, Taproot, and Tapes Script are expected to be included in the soft-fork upgrade of the sub-bitcoin network. A final proposal to enable these improvements through bitcoin nodes could be ready earlier this year.
Currently, developers are reviewing the code for these potential changes, which are expected to improve privacy, smart contract functionality, and the general scalability of the bitcoin network.
Lightning Network and Liquid Sidechain Adoption
Developments are also being made on top of the base Bitcoin protocol. Lightning Network has been highlighted for many years as a fast, inexpensive bitcoin micropayment solution, and Blockchain Liquid Sedchen has grown over the past few months in terms of the number of bitcoins and teacher US on the platform. Have seen
Although the lighting network has enjoyed a high level of attention to this point, it could be the liquid that becomes the center of light in 2020. Due to a large amount of bitcoin centralized transactions around the exchange, it can be helpful to reduce congestion at the liquid base.
In this case, the bitcoin blockchain, where there is a lot of speculation around the value of the bitcoin, is likely to be halved.
In a situation where the demand for blockchain remains relatively strong, it is possible that the Bitcoin protocol layers will not develop much in those years, as the incentive to change old habits is weaker.
There is a belief among many Wikipedia technicians that innovations such as sidelines and lighting networks will eventually send the value of alternative cryptocurrencies to zero. It is noteworthy that in the last two years, the overall Altcoin market has been significantly lower against Bitcoin.
And, of course, the final bitcoin trend will be seen in 2020 to be adopted by institutional investors. Adopting institutions has been a hype for years, but it’s not something that happens overnight.
In 2019, the SEC saw the approval of the first bitcoin fund associated with the ’40 Act, which led one analyst to believe that the approval of the bitcoin ETF could be right around the corner.
Besides, Grizzly recently announced a 600 600 million new investment from investors, mostly from hedge funds. Last week, a survey also found that financial advisers are increasing the exposure of their clients’ assets to bitcoins and other cryptocurrencies this year.