Bitcoin has gained the attention of a lot of eyes in the financial world. People who were doing bitcoin trading in the ending months of 2017 gained a lot of money back then. Being into cryptocurrency became somewhat of a cool thing. People who gained profits quickly were being considered lucky. Bitcoin trading turned out to be the best thing for some in terms of finance. But since then, things have not been quite good for the asset and holding cryptos is not cool anymore as the market is in a continuous bear run.
After almost touching the $20,000 mark in December of 2017, bitcoin is now down in the range of $3,000s. Bitcoin trading is not cool anymore. If someone is holding bitcoin now, he’s often considered to be someone who has lost a large amount of money, which is true to some extent. The bear run of the market has continued on for over a year resulting in the loss of a large amount of money. People that are holding, or ‘HODLing’, bitcoin for quite some time are still waiting for that bull run to happen again so that they can make profits.
The thing is, we might not see a bull run like 2017 again. If it ever happens again, a lot of issues need to be resolved. Bitcoin has grabbed a lot of attention from the financial world in the last couple of years and developments are now being made to remove the negative elements associated with it. Due to the major negative connotation in the media, general people and the institutional investors are still holding back from stepping into this world. Bitcoin trading is not the preferred choice anymore as a lot of people have lost a large amount of money already.
So what can make bitcoin cool again? The major thing to look out for is acceptance. If bitcoin is to grow and mature, it needs to get as much acceptance among the general public and the investor community as possible. This can only be made possible if bitcoin is able to handle its core issues like volatility, manipulation, liquidity, negative usage and scams. Once these problems are resolved, it is likely that bitcoin trading will become cool again. But unless that happens with laws and regulations in place providing a proper security fabrics, things aren’t looking good for the digital asset.