Over the past few days, we have seen a sudden rise in the cryptocoin market by more than $4 billion, with Bitcoin put front as it moved $3,700. There are many other cryptocurrencies in the online coin trading market such as Ethereum and Ripple which also showed large gains as each rose by more than 3% against BTC.

Even if we continue to see that the price of bitcoin, Ethereum, and any other digital currencies decline, there are some crypto experts who expect that the market will assuredly recover in a big way before the end of 2019. And according to the latest news from the crypto world, the bitcoin price surged and broke the $3,720 and $3,880 resistance levels against the US dollar.

Here are some of the reasons why the price of bitcoin turns bullish:

Transactions Approaching All-Time High

The total number of transactions on the Bitcoin network has been approaching its all-time high while confirmed transactions have been constantly moving upwards since May 2018.

Latest Bitcoin Protocol

2019 will get numerous latest bitcoin protocols such as Taproot and Schnorr Signatures. Taproot would increase the smart contract flexibility of Bitcoin while offering high-level security.

Schnorr is a signature scheme that supports mini signatures. This protocol is extremely fast, easy to verify, and offers a strong level of accuracy.

Real-World Bitcoin Adoption

Maybe not completely legal but bitcoin is certainly not banned in over 110 countries around the world. Recently, Indonesia has announced that it legally accepts bitcoin as a commodity while Wyoming has become the first US state to protect bitcoin and digital currency ownership via property rights.

These are the certain reasons which are responsible to raise the bitcoin prices. If you are planning to trade in the crypto market, this is the best time. To keep yourself updated, it is good to join the best crypto coin exchange, their expert team will guide you with the perfect time to buy or sell your cryptocurrency.