The crypto market has been enduring the right bear hug since last year. In fact, the current bear market is the longest ever experienced in the crypto space. Most cryptocurrencies especially Bitcoin still struggles even to surpass the $6,000 price mark. However, Bitcoin is not what it used to be as it declined in its market value by 80 percent since the start of last year.
During the bear market, there were unrealistic predictions from cryptocurrency experts that calmed the crypto market; those predictions kept the hopes of investors and crypto-holders high – some of those predictions still seem to be coming true. But not all.
So, we are only in the first few months of 2019 and let’s admit it, the crypto-market is still experiencing the bear side of the market, but things are getting on the bright side, and some of the long-term Bitcoin predictions are beginning to turnaround.
Institutional Investors Will Start Making Use Of Bitcoin
Over the past few years, cryptocurrencies like Bitcoin have had a long war with institutions. The cryptocurrencies have continued to surge even without the help of institutional money. One thing is evident: Bitcoin needs institutions to invest in it to experience a further cash flow and see a price surge than what it boasts today.
There have been many predictions that institutions will invest on Bitcoin – even though it looked unrealistic back then, investors are gradually taking a considerable step towards looking at the side of Bitcoin and other cryptocurrencies.
Lately, a financial institution: JP Morgan, came up with a plan to have its very own crypto-coin. Although this crypto-coin will not be a real one, it will have some connection between fiat money and stable coin.
Also, another financial institution known as Bakkt has developed an interest in cryptocurrency. Although the Bakkt exchange project hasn’t been fully actualized yet, it is certain that soon enough, there will be some sort of connection and the use of cryptocurrency with Bakkt. More financial Institutions are joining the trend to adopt cryptocurrencies, which will work as a catalyst for Bitcoin’s growth.
The Surge In Bitcoin’s Price
Bitcoin’s price still looks bleak, and it has been like that since last year. Understandably, the low price state of Bitcoin has got many crypto investors to lose their hope on the cryptocurrency and began to wonder if Bitcoin has a future.
To make matters even worse, the Bitcoin Cash fork brought the price of Bitcoin down to a new low. At that time, there were several predictions that Bitcoin will drop even more after the fork before a positive upturn begins.
But guess what? Things are beginning to take a new shape and Bitcoin is starting to regain its momentum gradually, and this has spiked much optimism among crypto investors.
These Bitcoin predictions are coming to pass. There are other ones we may experience this year and some next year (the Bitcoin ETF approval in particular). Additionally, there is also the prediction that Bitcoin’s price may reach $15,000 before 2019 comes to an end.
Even with all these predictions, investors are still advised to look at the bright side, keep their hopes high and invest on Bitcoin (at their very own risk, of course) – hopefully, the market will go past these dark days soon.
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