The present cryptocurrency market looks bleak to many. The market has lost nearly 80% of its value since January 2018. Cryptocurrencies are setting new price lows daily. It is the Crypto Winter in progress. However, the bright future is coming.

Here Is Why Bitcoin Will Succeed

We observed the dynamics of cryptocurrency activities in the past. Each Crypto Winter was always followed by a Crypto Summer, ushering in major price rallies to new all-time highs.

For example, in early July 2013, the price of Bitcoin was around $80 USD. Then, in almost five months, it went up to set a new high of about $1,150. It was the best Crypto Summer yet. By April of the following year, the price hit $380. The general downward trend continued on, until the crypto saw lows of approximately $200 to $300 between January 2015 and September 2015.

And, at that point, the next Crypto Summer set in. It led us to the all-time high of $20,000 USD.

When Is the Next Crypto Summer Coming?

Aside from expecting the cycle to repeat itself, there are indications that the next price rallies will be unlike what we have seen before. First, major mainstream technology companies and financial institutions are getting involved with the blockchain technology more than ever. The market is witnessing the launch of Bakkt, a crypto platform that is supported by mainstream brand names such as Microsoft, Starbucks, and BCG.

We also expect to approach the halving of the Bitcoin reward in 2020, which will reduce the new Bitcoins released to circulation from 12.5 Bitcoins every ten minutes to 6.25. This will cut the supply of Bitcoin, which will translate to more increased price — going by the demand and supply curve.

The halving in 2016 from 25 bitcoins to 12.5 is one of the factors that drove the high prices in 2017 and in early 2018.

And, because Bitcoin is the market leader and other cryptocurrencies are positively correlated with it, we are likely to see crypto prices increase across the board.

So What Does It All Mean?

The multiple indicators remind us once again to HODL onto our cryptocurrency. The Crypto Winter is almost coming to its end; and the coming Crypto Summer could turn out to be the best one that you have ever seen.

If you need cash now, take a crypto-backed loan. Services like YouHodler offer an “Anti-Crisis” loan plan to support the crypto community. By using your cryptocurrency as collateral, you can get instant cash and still keep your digital coins. Once the crypto prices go back up, pay your loan, and continue enjoying the growing prices of cryptocurrencies.