With the exception of a brutal pump and dump on Wednesday, the price action of bitcoin has been far from exciting over the last few weeks. Since the end of October, the number one cryptocurrency has lost nearly 30% of its value. The slow bleed with a couple of dead cat bounces have frustrated both the bulls and the bears.
It’s almost the same story for other cryptocurrencies. Sure, a handful of gems or small market cap cryptos have popped but the majors have been disappointing. After a strong first half of 2019, many coins such as Litecoin (LTC/USD) and Ethereum (ETH/USD) have succumbed to profit-taking. Nevertheless, one widely-followed trader named Bitcoin Macro claims that 2020 will not be the same. It would be a year that changes people’s lives.
2019 has been a difficult year for most HODLers. Early this year, bitcoin showed tremendous strength as it climbed from $3,000 to about $14,000. Unfortunately, the bulls couldn’t sustain the ascent. The force of gravity sucked the dominant cryptocurrency back to Earth.