Bitcoin to the Moon in 2020? A Few Worthy Story Lines

Happy new year crypto crew! It’s officially the new year in every part of the world, unless you reside in a timezone we are completely unaware of. Thank you for all of your support, engagement, and motivation in 2019 – it has kept the mission of crypto-education alive and well.  

Going into 2020, we’re launching new services that will solidify your understanding, awareness, and mobility within crypto – so, watch this space. Having said that, let’s do a recap of some of 2019’s top crypto moments. 

Bitcoin Grows a Pair of Wings 

Rising from the ashes of 2018 bear market despair, BTC was launched into orbit after a dismal period marked by a $3,200 price floor. In what felt like one fell swoop, Bitcoin took out ambitious target after target, going straight through overhead resistance until it had all but swept up the $14,000 mark.  

For a moment, it looked primed to retest previous all-time highs, but that wasn’t to be. A retrace has reduced gains by nearly half, but the market has still seen hand-over-fist gains compared to this time last year.  

Retail Investors Abandon Hope 

Despite the incredible gains seen through the first half of the year, the green was mostly restricted to BTC and a handful of other assets. The altcoin market, by and large, has performed pretty poorly.  

Conferences, mainnet launches, partnerships – none of these price-boosters of old seem to have the same magic anymore. There were some bright spots such as Chainlink, but such success stories were far from common. 

Retail investors have seemingly lost interest in crypto as evidenced by the abandonment of spaces like Crypto Twitter, subreddits like EthTrader, and Telegram groups. Those who have weathered both the good and the bad have largely done so by tuning out entirely.  

Will a run-up toward the Bitcoin halving in May change that? We’ll definitely find out. 

Craig Wright Flexes on Hodlonaut, Gets Shut Down 

Everyone’s least favorite Satoshi imposter crossed the line earlier this year when he started a legal suit rampage against his doubters. Amongst those doubters was Hodlonaut, a Twitter cat wearing a spacesuit.  

After Wright threatened to sue and unmask Hodlonaut, the entire cryptosphere banded together in a scene reminiscent of the Avengers: End Game. To add a bit of comeuppance to the entire scenario, Wright was also owned in the court of law, where he was ruled against and ordered to hand over half his BTC to the estate of Dave Kleiman. 

Bakkt Gains Steam 

Despite its initial debut being widely panned as a failure, Bakkt has bounced back to claim higher highs throughout a turbulent (and mostly down) market.  

In another telling moment, Bakkt’s CEO, Kelly Loeffler, resigned after being appointed to the US Senate, where hopefully she’ll continue campaigning for a crypto future. 

Next, we’ll look ahead to 2020 with an analysis of trends and events to watch for. Until then!

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Author: Bitcoin Exchange Guide News Team

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