With the advent of the new year, the public is getting more interested whether Bitcoin will manage to restore its positions lost in 2018? This burning issue is of great importance, because the general market sentiment depends on the rate of the first cryptocurrency.
Analyzing the events of last year, we can recall several significant falls. In early 2018 the cost of cryptocurrency fell by more than ⅔ per month. By April, the price has stabilized, and there has been even a slight increase.
Hopes for the rerun of 2017 rally didn’t fulfill, and in fall the cryptocurrency price fell twice contrary to the summer indicators. Many say that the reason for this was strict regulatory rules adopted by most countries, as well as the refusal to launch derivatives and ETFs.
What will 2019 bring?
Speaking about the future, many people consent that Bitcoin, its forks and the rest of cryptocurrencies won’t feel bad. Experts agree that until March the situation will be critical – the cryptocurrency can break through the barrier of $2,100, but after that it will grow.
There are several factors that will keep BTC afloat:
- * Institutional investors will get a convenient platform from ICE. It’s about Batkk, which will start its work on January 24, 2019.
- * Fidelity Investments holding will start conducting cryptocurrency transactions in its own unit. The company has more than $2.1 trillion under its control, so this is a promising undertaking.
- * ETF is likely to be launched in the spring of 2019. At this point, a SolidX startup has applied for the launch. SEC hasn’t refused and is still considering the pros and cons.
- * Nasdaq and VanEck are going to launch futures in the first quarter of the new year.
- * Goldman Sachs, Morgan Stanley, and Citygroup will finally enter the crypto market with their projects – derivatives, futures, or simple services for interested clients.
Of course, such a rapid price increase is not to be expected. It is unlikely that the coin will cost $1 million, as the extravagant John McAfee said. The forecast from the popular rating agency Weiss Ratings for 2019 is as follows:
“The bearish sentiments of 2018 have knocked the weak players out of the stride. Many experts hastened and once again buried Bitcoin. Now it has every reason to continue growing to new price ceilings.”
Representatives of the rating agency are also sure that the first cryptocurrency, as well as its fork, will still be used as a means of accumulation:
“This is convenient and practical – it allows you to comfortably manage the funds transfers.”
The situation on the market today is something similar to 2014. Then Bitcoin was also going through hard times. Hope for an active investment future didn’t materialize, it was not possible to use the coin in everyday life. High commissions and a small block size interfered with daily settlements with the help of BTC.