According to an informal report conducted by a popular media outlet focused on Australia, several of the so-called ‘financial technology experts’ believe that Bitcoin (BTC) will recover quite well in the next eleven months.
According to the statements transmitted by the panel to the Finder, collectively they believe that BTC will violate an appraisal of just under $ 7,000 at the end of the year. The most optimistic panelist was Ben Ritchie, the chief operating officer of Digital Capital Management, a blockchain-friendly investment management consortium, who said Bitcoin could reach $ 9,500 as 2020 occurs.
While he did not exactly endorse his prediction, which would see the rise of the cryptocurrency by 180% from current levels, Ritchie called attention to a series of industry trends in which consumers should keep their eyes on 2019. The first is the decoupling of cryptocurrencies. as Ethereum, XRP, and the like, from Bitcoin. Ritchie did not disclose if he expects BTC to outperform its counterparts on the lower rungs of the escalating cryptocurrency ladder.
The second is the impact that the price action of the inherited markets will have on the cryptocurrencies. He did not state explicitly how an increase or collapse in the S & P 500, for example, would affect the broader digital asset market. However, players like Travis Kling, the investment director of Ikigai believe that the recent decision of the US Federal Reserve being failure to impose an increase in policy rates will be an extremely positive catalyst for the decentralized, immutable, non-reprehensible and safe.
Finally, the member of Suite C of Digital Capital Management drew attention to the arrival of Wall Street in this asset class, especially when Bakkt and Fidelity Investments launch their cryptocentric products in the near future. Unlike Jeff Berwick, who believes that the institutional incursions into this market in early 2019 will absolutely explode the crypto industry, Ritchie surprisingly said he does not expect many of the traditional world of investment to reduce the pill red still. This recent survey conducted by Finder comes after Bitwise Asset Management, a cryptographic investment services provider based in San Francisco.
According to a Bitwise press release that reported the survey, 55% of the 150 financial advisors surveyed believed that BTC would appreciate its value over the next five years, with an average prediction of $ 17,570. 22% of the 150 noticed that they plan to start investing the capital of their clients in cryptocurrencies or to reinforce their existing holdings in the next year.
Cryptographic experts begin to differ
While there are some unwavering optimists in this budding industry that would corroborate the predictions of $ 7,000, some are skeptical that the iconic cryptocurrency will go so far by the end of the year.
Fred Wilson, a leading venture capitalist who has fallen deeply in love with cryptocurrencies and blockchain technologies, explained in a blog post published on January 1 that BTC is unlikely to publish notable advances this year, as the background process is still being diluted. More recently, former Wall Street hotshot Mike Novogratz, the founder of Galaxy Digital, said there is a possibility that the cryptography market, including Bitcoin, will not “head north” for at least a few more months.
Also published on Medium.