Bitcoin's strong performance has not escaped the apprisal of bulwark Street analysts, investors and companies. The company launched bitcoin trading in with Will Bitcoin hit k in , which enables the purchase and selling of bitcoin. But all matter what, cryptocurrency should interest only a very small line of your office. Bitcoin to hit $k in the next five years. During a new interview with Stansberry Research, Saunders said that BTC is on track to shatter $, in the next five years. After that, he believes Bitcoin will race to $1 million, but the outcome will depend on how governments will deal with the coin. Mar 10, · By Nilus Mattive Posted March 10, 5 Reasons Why I think Bitcoin Will Hit $, Bitcoin $k Reason #5: The Bitcoin Trend is Unprecedented. The last year of trading in bitcoin has been one of the most impressive things I have seen in my trading career.
Bitcoin to hit 100k in 20189 Reasons Bitcoin Could Hit $, Or More
Van-Petersen said that more institutions will get on board over time, but it won't happen quickly. Also, bitcoin has been trading sideways since the start of the year. But the Saxo Bank analyst said that bitcoin tends to trade around a certain level then "re-rates". It's kind of building a foundation, then will re-rate a bit higher. Bitcoin and other coins, including ethereum and ripple , saw a big sell-off on Tuesday , however. And you can see transactions on their side eclipses transactions across other cryptos.
Ethereum, unlike bitcoin , has a core group of developers who control the way that the technology develops. Some experts say that this will give it longevity and certainty in terms of the way it grows. A number of major financial exchanges have recently listed or announced plans to list bitcoin derivatives for public trading.
Most people fail to realize that institutions that plan on trading in or making markets will HAVE to buy bitcoins to hedge their positions. This means that new institutional money will have to come into the market as volume in these derivatives increases.
Once the first bitcoin ETF is listed investors will be given unprecedented access to these markets and that would be a huge benefit to those long bitcoin.
A huge number of businesses now accept bitcoin as a legitimate form of payment more than , worldwide. A number of large publicly traded companies now also accept bitcoin. Companies like Microsoft and Expedia now accept bitcoin as payment for certain products and services. While this is a MASSIVE development for these markets there is still huge growth potential for bitcoin based on the fact they have barely penetrated the payments market.
The amount of new money brought into the market by these stories has pushed a number of cryptos, bitcoin included, to new highs, despite the recent pullback. The move people exposed to these markets the more interest there will be, this can only be a good thing for the market. The last year of trading in bitcoin has been one of the most impressive things I have seen in my trading career. As a momentum trader there has never been a more intriguing market.
And then it could be off to the races again. It might not make sense to some but think about this old trading adage…. There are actually way more than 5 reasons I think this market is moving higher.
But before you do, you should realize that bitcoin, like everything else in your portfolio, should be managed with strict risk management rules. There will be a day that I sell some of my bitcoin position but for the time being there is absolutely no reason for me to even consider selling.
If any one of the scenarios above plays out the market will take a huge leg higher. I need to stay on the side of the greatest trend in my career so for now, this AlphaShark is long and staying long.
With the market volatility soaring, I thought now would be a good time to review my number one rule, and why it is so crucially important for all traders.
Volatility is pretty common for cryptocurrencies. Digital currencies XRP and Litecoin have seen similar declines. Billionaire entrepreneur Mark Cuban and "Oracle of Omaha" Warren Buffett , for example, have both warned that bitcoin's value is unstable. Legendary investor and Vanguard founder Jack Bogle, at a Council on Foreign Relations event, told the audience, " Avoid bitcoin like the plague. There is nothing to support bitcoin, except the hope that you will sell it to someone for more than you paid for it.