Bitcoin has just had the best month of January from 2012


It had to pass about 8 years from 2012 before Bitcoin managed to have a better month of January pricewise.
During this period of time many events passed by, from various social and political troubles to economic uncertainties that only succeeded to make Bitcoin and cryptocurrencies an interesting bet to make as a payment alternative or long-term investment vehicle. And no, unfortunately we still have no idea who Satoshi Nakamoto is though the search continues in 2020.
So, in spite of all the specialist predictions, the market participants were surprised to see Bitcoin’s price rising in just a few days from around $7,000 to above $9,000.
To be more precise, we’ve seen a price rise of more than 12% in about 5 days at the middle of January 2020 when Bitcoin managed to pass the $9,000 threshold to only be slightly pushed under that level shortly after.
Can we blame it all on the infamous Craig Wright?
We have to underline that Bitcoin’s unexpected Bull Run from January 2020 may have been influenced by Craig Wright and the course of his BSV (Bitcoin Satoshi Vision) coin that succeeded to jump rise more than 100% in a single day and more in the following days. It is true however that towards the end of the month BSV retraced slightly.
Nevertheless, the impressive price rise of BSV managed to attract the growth of the entire market cap, including Bitcoin and most popular altcoins.
But what kind of conclusion can we draw from this January growth?
First of all, we have to emphasize that crypto prices and the market cap still seem to be influenced by large holders and it’s therefore difficult to anticipate Bitcoin’s price, especially in a short period of time.
At the same time, various events that occur in a certain period may affect the crypto market. For instance, in the month of January 2020 we had the US and Iran ready to go to war which again pushed Bitcoin’s price leading most participants to agree that the king of cryptos is still seen as a store of value.
Finally, in January 2020, Craig Wright continued the never-ending crusade against his crypto enemies trying to prove once and for all that he is the “real” Satoshi Nakamoto. Though he still didn’t succeed to do that, his trial’s up and downs made some whales consider that in case Craig Wright is declared to be Satoshi Nakamoto it wouldn’t hurt to hold some BSV.
Whatever some crypto traders may claim, it’s still difficult to anticipate the price or the evolution of Bitcoin and the other cryptocurrencies.

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