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A study conducted by Finder.co.au in Australia found that financial market experts forecast an end-of-year bitcoin price of between $ 7,500 and $ 9,000.
In February, the price of BTC was around $ 3,500. An increase from $ 3,500 to $ 9,000 would be equivalent to a 157% increase in value in less than ten months.
Chart via TradingView
Why Experts Remain Positive About Bitcoin's Long Term Outlook
Investment executives, individual investors and fintech experts generally favor the long-term trend of Bitcoin due to various short-term catalysts that can fuel the market.
In the first quarter of this year alone, ICE's Bakkt is expected to launch a Bitcoins futures market in the United States and the Fidelity system would offer cryptocurrency preservation.
The activities of large financial institutions in a bear market can increase the confidence of investors who are uncertain about the future of the badet clbad.
Ben Ritchie, director of operations at Digital Capital Management, said:
In 2019, we will have to ask ourselves if we will witness the decoupling of crypto-currencies, because they have evolved in a relatively similar way to this day. The second is the impact of traditional markets on cryptocurrencies. Will Bitcoin increase if the S & P goes down? The rise and fall of access for the purchase of cryptocurrencies will improve in 2019 with the entry into the Bakkt market and Fidelity Group. However, I do not think many institutional investors will come in for a while.
Ritchie provided the highest price forecast for BTC at the end of the year at $ 9,000, while other financial technology experts estimated that BTC would end the year at about $ 7,500.
Similarly, all the experts stated that BTC would probably experience a slow slow progression, which would indicate a low level of volatility in the coming months.
If BTC starts a gradual climb from $ 7,500 to $ 9,000 over the next 10 months, cryptocurrency trading may pose many problems.
Already, stock markets in major markets such as Japan and South Korea are struggling to cope with a substantial decline in the daily volume of transactions in the cryptocurrency market.
Some stock exchanges have reported that the volume of their trading platforms has fallen by more than 90%. If the market moves slowly over a long period of time, trading based on transaction costs as the main source of revenue could be problematic.
Crucially, in Australia, Fred Schebesta, co-founder of Finder.com.au and HiveEx.com, said that more and more millennia are adopting cryptocurrencies.
It is estimated that more than 1.1 million Australians are investing in the cryptocurrency market. By 2018, about 1% of Australian adults would have invested in this badet clbad. In 2019, reports indicate that nearly 6% of adults have invested in crypto-currency space.
Schebesta said:
Millennia are particularly open to cryptography to accumulate wealth. They grew up with digital technology, so it's no wonder they want to get involved in digital currency. They are looking to invest very differently from their parents.
What could push Bitcoin higher in 2019?
With the preparatory work of Bakkt and Nasdaq, some investors expect institutions to arrive no later than the third quarter of 2019.
Currently, institutions are waiting because of uncertainties related to regulatory frameworks and the badet clbad itself.
"I was too optimistic about the pace of institutional adoption in the past. This happens, but I can not estimate which quarter (whether this year or 2022) we will see a sharp rise. As a humble guess, something like Q3 2019, "Ari Ari, CIO of BlockTowet Capital, said.
But, as billionaire investor Mike Novogratz said, institutions are in no hurry to invest in the cryptocurrency sector.
Given that large financial institutions and cryptocurrency companies have better regulated and well-maintained investment instruments, the likelihood of institutions entering space should increase.
Click here for a real-time bitcoin price chart.
Featured image of Shutterstock. TradingView Price Charts.
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