They are good times for Bitcoin. In just the first weeks of January, the BTC has managed to increase its price by 40%. Entering one of the biggest bullish rally of recent times. Creating an atmosphere of optimism that soaks the latest news about the cryptocurrency, and of course the analysts of it.
At a time when crypto world users are debated, about whether halving will have negative or positive consequences for the price of Bitcoin. In Coinbase they seem to be very sure about the future of cryptocurrency once this event occurs.
And, the official position of Coinbase regarding what will happen after halving, is that it will bring Bitcoin closer to becoming the “digital gold”. Well, as the company puts it: “Armed with a myriad of technological advantages, accelerating development and maturing the global market, Bitcoin is a store of value to rival gold in the digital age“.
Therefore, for Coinbase, the halving of May will bring greater stability and confidence in Bitcoin. By increasing the shortage of cryptocurrency in the market, and making its possession more valuable accordingly. A situation similar to that of gold, and that gives value to the precious metal as an asset of value.
Most crypto world analysts expect Bitcoin to exceed $ 10,000 in the coming days. Thanks to the upward momentum it has maintained throughout the year 2020, and which has positioned its price at the time of writing this article at $ 9,925 per BTC.
But there is a site where Bitcoin is already worth $ 10,000 for Bitcoin. We refer to the future contracts of CME Group, where the BTC has reached an average selling price of $ 10,023. An achievement that he had not achieved since October 26, 2019.
Although later the price of the cryptocurrency fell again, the truth is that breaking the psychological barrier of $ 10,000 is an important boost for the price of the cryptoactive. Well, after breaking the $ 9,000 barrier a few days ago, the value of Bitcoin has done nothing but rise. An effect similar to what we can expect when it finally breaks 10,000 in the spot market.
Finally, another positive news for Bitcoin this Saturday, although far from the markets, is the bridge between its Blockchain and that of Ethereum thanks to RSK Labs. Allowing interoperability between tokens of both chains, including ERC-20 tokens. This being part of the RSK strategy, as explained by the company’s strategist, Adrian Eidelman:
“Interoperability has been a cornerstone of RSK’s vision from the beginning. We believe that being able to offer the benefits of Bitcoin to Ethereum users and connecting these respective developer communities is a crucial step for the Blockchain ecosystem as a whole. ”
Interoperability is achieved thanks to the launch of a token that serves as a bridge between both Blockchains. Allowing rapid changes to be made between one cryptocurrency and another. As well as the creation of projects as decentralized applications that work in both chains.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.