Analyst: Bitcoin is close to the bottom, will soon begin to rise
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Throughout 2018 analysts many times said that it has reached its bottom. However, the expert of company Capital Blockchain Spencer Bogart believes that the first cryptocurrency only now coming closer to a good minimum, which in the future will increase.
According to the analyst, compared to the highs last year, Bitcoin has fallen by almost 70 percent. This suggests that the first cryptocurrency was closer to her bottom, he said.
theWhen will Bitcoin grow up? Analyst forecast
When the bulls led the market up at the end of last year, it seemed to us that the bad news does not affect the price. But in reality it was not so. We are now seeing the opposite — posts about TD Ameritrade, Rick Edelman and Yale did not affect the rate of Bitcoin.
The Analyst , this fact speaks about the infrastructure around the coin and increase its independence from external factors.
Bogart's Statement on the situation around Bitcoin coincides with the position voiced last month by founder of Galaxy Capital Management by Mike Novogratz. Then he said that the market of digital assets have reached the bottom. The expert added that institutional investors will come on the market in the next two to three years.
In this week's study Fundstrat that 54 percent of institutional investors believe in the prospects of the first cryptocurrencies. In their opinion, she had reached the bottom this year.
Interestingly, the traditional financiers of wall street are more optimistic in their predictions about the future of Bitcoin than the members of the crypto community. 66 percent of participants in the latter allow for the depreciation of Bitcoin this year, below the level of $ 6500. With the statement about a possible increase of Bitcoin up to $ 15,000 in 2019 accepted only 40 percent of survey participants.
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