The Bitcoin is making a comeback and how. 4NEW’s Varun Datta predicts that the Bitcoin is back. After a long and turbulent spell of Bitcoin struggling to hit its mark and keeping investors interested, it has finally started to regain momentum and establish a stronghold as a currency to watch out for in years to come. It started trading at around $4904, resiliently stabilizing post breaking the $4500 price mark for the first time in a long while. Bitcoin has shot up by 17.66 percent on the day and its weakly gains are over 22 percent. Among the top contenders, Bitcoin Cash has been the top gainer by being up over 44 percent and trading around $242.70. At the second spot lies Bitcoin SV, up over 32 percent and trading at around $87.56. Litecoin has also benefitted with an increase by over 25 percent and trading at $76.17. Similarly, the second largest cryptocurrency Ethereum has also been bouncing back notably with daily gains, up by an impressive 16 percent. The Altcoin is currently trading at $164.76 while the highest it reached on the day had been $163.63. Ripple was also a beneficiary with 13 percent and its trading value is at $0.348. All the coins have holistically crossed into the coveted green zone with significant gains as high as between 0.53 and 44 percent.
Total market capitalization of cryptocurrencies is at $172.39, dramatically ramping up from $137.90 as reported on March 27, 2019. As an effect, technology company stocks for players like Netflix, Facebook, Google have hit record levels with a 23 percent upswing since last December according to Bloomberg. The behavior Bitcoin has shown over the last few years has been nothing less of miraculous, considering that cryptocurrency had been a bear trend since January 2018, demoralizing investors all over the world.
Experts claim that in light of recent developments, cryptocurrency could be well on its way to achieve a “Crypto Renaissance”, going full steam ahead with projections between $50000-$72000 USD by 2021. It is also important to note that Bitcoin will be half by May 2020. As a result of this, the issuance of fresh Bitcoins will go down from 12.5 BTC to 6.25 BTC per block and due to heavy demands from both large as well as small investors and the price will most likely reflect robustly and positively in the years to come.
The experts say this is a big leg up for investors in Bitcoin, because these signs indicate the prices to go up higher in 2019. Since its introduction, Bitcoin has witnessed losses four times, similar to the one it faced last year. This recent surge in price suggests that Bitcoin is accustomed to the highs and lows and is still very much a reliable investment, given the investor is patient, resilient and aware of its changes. Bitcoin always bounces back eventually; it’s just a matter of time. The only threat and impediment Bitcoin now faces is the uncertainty of government regulations. The UK government said recently that it will support the Financial Conduct Authority in taming the cryptocurrency with adequate regulations.
Varun Datta, the UK based cryptocurrency protégé, became an early adopter in cryptocurrency after launching 4NEW in 2015, which is the world’s first eco-friendly blockchain ecosystem by waste to energy. The blockchain is a revolutionary and powerful financial platform but it grapples with issues of excessive power consumption and this is the space that Varun Datta intends to tackle with innovative and sustainable solutions. His main objective was to position himself as a cryptocurrency thought leader for the years to come. Being an early investor in Bitcoin and having recognized its profound impact on the business and financial world, he had been planning to launch his own currency for a long time. In 2017, he launched his own KWATT tokens, which for the first time will facilitate tokenized electricity to transact over the block chain network, being a sustainable and renewable long-term solution. Varun Datta along with the 4NEW team is working tirelessly towards leveraging his early experience, deep knowledge and first mover advantage in Bitcoins and cryptocurrency to complement the eventual widespread adoption of cryptocurrency as an absolute form of finance to revolutionize all industries. Consequently, he is focused on building assets within the Real Estate, Energy, Waste Management, Healthcare and Technology sectors in anticipation of the imminent crypto renaissance by the year 2021.