Blockchain CEO: Bitcoin will bring the biggest profit in the next six months
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CEO of Blockchain shared his thoughts on the current state of kryptonyte in an interview with Bloomberg. Peter Smith highlights institutional investors as main driving force of the future of the market. About it writes .
theprice will rise soon
Peter Smith rather conservative comments about the recent growth of the home currency.
Over the last couple of years we have seen a few quick UPS and downs of Bitcoin. I believe that the stock market slowly konsolidiruyutsya. In the next quarter we will likely also be able to see a slow consolidation around key resistance levels.
In Other words, Smith is confident in the gradual increase of coins. Blockchain CEO also noted the importance of transparent measures of regulation of the industry.
Another fun fact — the interest in the crypt by large investment funds increased significantly, while ordinary investors seem disappointed in the cryptocurrency.
I think now the trade turnover among the ordinary investors decreased significantly. Up to this point, the market grew only thanks to them. At the moment the situation is changing — the big players are increasingly interested in the crypt. That's why Bitcoin well recently increased in price.
Smith predicts growth of infrastructure for institutional investors. Even his own firm launched the service Blockchain Principal Strategies, which should help the funds to enter the stock market. However, the CEO of Blockchain does not expect a sharp rise in price of Bitcoin in the short term. Smith noted that the industry will notice the fruits of cooperation with major players by the middle of 2019.
According to Smith, Bitcoin, this is likely the biggest benefit for any new investor. Because of this, on the stock market there is an imbalance, which leads to high dominance of the main cryptocurrency by market capitalization.
Institutional investors are usually the first to buy Bitcoin so he can bring more profits in the next six months.
At the moment, the dominance of Bitcoin has reached 47.3%. This is the highest figure since December of last year. We will remind, the expert of CNBC Brian Kelly, also the further growth of Bitcoin amid speculation about the emergence of the first ETF in the crypt. Although it even .
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