In it’s first act as reigning sign for the year, the Golden Pig seems to have delivered a menacing blow to the bears. Soon after the lunar new year Bitcoin rallied and has been steady ever since. With the next halving about 15 months away there is still plenty of time to start mining. It still seems unlikely when compared to the last halving that a bull market would be upon us so soon. With large financial institutions acquiring more of the cryptocurrency then the last go around, it’s anyone’s guess how news of upcoming scarcity event will affect the likes of institutional investors and CNBC.
Wall Streets biggest competitive threat, Coinbase, had been working diligently to rollout the new “Coinbase Bundle”. Announced at the end of 2018 the bundle is essentially a weighted mutual fund of the original Coinbase 5. (Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic) After multiple new coin additions in a row, the bundle drops as a subtle reminder of the juggernauts impending advance on Wall Street. With no time to waste it was back to business as usual listing Ripple (XRP) on Coinbase Pro and soon after on the retail exchange. Ripple enthusiasts and supporters are finally vindicated after a long wait. Hopefully this is only the beginning of a prosperous 2019 for the crypto space.