We all know that 2019 was the year, which was all about the Bitcoin and its pricing all through the course of crypto asset’s valuation that has been roughly doubling up in the last one whole year. But later on in the second half of 2019, this Bitcoin even witnessed some decline as well, which was a big surprise for some of the people. And now, in 2020, it is all set to arrive with a big bang!
Now you might be thinking about what is expected from Bitcoin as in 2020! Well, now that’s a big surprise! There have been so many more latest and fresh trends that are expected to be introduced in the year 2020! Do you want to know about which trends we are talking about!
Right here we have compiled a list in which we are discussing some of the important and essential top trends which are expected to be welcomed in 2020:
1. Bitcoin Halving 2020
The Bitcoin halving is expected to be arriving in the market in May, which is known out to be one of the basic elements of the bull case for the Bitcoin in the year 2020. This would be the major scheduled occurrence that will be happening to take place every four years in which the numbers of the latest Bitcoin will be generating after every single ten minutes.
Besides the 12.5 Bitcoin that is being added as the main subsidy in favor of the miners in every single block, now it has been unveiled that 6.25 Bitcoin will be all generated.
This will probably be the biggest trend to be introduced in Bitcoin. Opinions are completely divided based on the fact that how this whole event will be showing an effect on the Bitcoin prices and whether it has already been set with its pricing in the market or not.
This trend has made the Bitcoin industry so much excited that now they are predicting the Bitcoin price to be around $50,000 by the ending time of 2020.
2. Bitcoin’s Transition to Digital Gold
Bitcoin is known as the form of digital gold for the last so many years. But 2019 was the year when the meme turned out to be so much realistic, which was based on the data record, which was collected from the last six years of the current year.
It was in the year 2019 that the whole idea of the Bitcoin as the digital gold becomes so much popular and prevalent much. It became so much popular that even the U.S. Congressman Brad Sherman (D-CA) stated that this crypto-asset could be turned out to be one of the biggest threats for the U.S. dollar’s dominance inside the global economy.
By the starting time of 2020, the emerging similarities between the Gold price movement as well as Bitcoin have so far increased the overall tensions that have been taking place between Iran and the United States. Nevertheless, the long term set of measurements between the gold as well as Bitcoin is indicating that there has been some weak correlation that is happening between the two assets.
3. Schnorr, Taproot, and Tapescript
Bitcoin has not been looking out for some serious upgrades that are happening most of the time. Bu that too seriously for the good reasons! Hence a big change is expected to be encountered in the year 2020.
Schnorr, as well as Taproot, and Tapscript are all included in the upcoming soft-forking upgrading of the Bitcoin networking.
This year, a final set of the proposal has been introduced, which is meant for the activation of all such improvements by the Bitcoin nodes that might be ready. In the present time, all the developers have been thinking about reviewing the code that is related to the potential changes. This will expect around to bring some improvement in the privacy along with the quick contact functional nature and even the general scalability of the Bitcoin networking.
4. Lightning Networking and Liquid Sidechain Adoption
So many developments have been taking place on top of the layers as above the main base of the Bitcoin protocol. This will probably be the biggest trend to be introduced in Bitcoin. The Lightning Networking has been encountered to be the major solution for the much cheaper and yet the fastest Bitcoin micropayments from the last few years now.
Blockstream’s Liquid sidechain has encountered the growth in terms of the massive amount of the Bitcoin as well as Tether US that has been available on the platform over the past few months.
The lightning network has been taking a lot of attention over the last few years, and it has been expected that it will turn out to be the main spotlight in the year 2020 as well.
Just as because of a large amount of the Bitcoin transactions only as around the exchanges, Liquid has been so much helpful in terms of lowering down the congestion over the base Bitcoin blockchain in such sort of condition where there has been a large amount of specific speculation which is taking place around the area of Bitcoin price. This might be due to halving. Are you excited for this trend?
5. Institutional Money
The last and most important trend to watch in Bitcoin has been institutional money! This has been a certain form of adoption, which is needed to be carried out by the institutional investors. Over the last few years, this has created a big hype.
2019 has witnessed the SEC approval just as in the first ‘40 Act-regulated Bitcoin funding, which has made one of the analysts to believe that the Bitcoin ETF approval might be coming around the corner side. Apart from that, Grayscale has also come up with the announcement of the inflows of around $600 million in the range of new money from the side of investors, mainly from the hedge funds.