After a bearish 2018, top cryptocurrency experts concur: Bitcoin news suggest bullish price outlooks. After what has been a very bearish 2018 for the leading cryptocurrency, Bitcoin news suggests that bitcoin price is set to shoot up in value by as much as 84%. The currency reached its peak in 2017 at a value of US$20 000. This occurred when everyone was in the grip of cryptocurrency fever, a pitch sustained with bitcoin news popularity. However, more recent bitcoin news report that the currency has since slipped nearly 80% with a current trading price just shy of US$3 500.
Ben Ritchie, COO of Digital Capital Management has been particularly bullish regarding Bitcoin with a strong prediction of the currency reaching as much as US$9 500 by year end which will be reached, according to him, in a slow steady rise during the course of the year.
Ben Ritchie is quoted as saying, “Two things to look out for in 2019 will be whether we will see decoupling of the cryptocurrencies, as to date they have trended in a relatively similar manner.”
Ben Ritchie further states: “The second is the impact of the traditional markets on cryptocurrencies. Will Bitcoin rise if the S&P drops? On-ramp and off-ramps to purchasing cryptocurrencies will improve in 2019 with Bakkt and Fidelity Group entering the market. However, I do not believe we will see many institutional investors enter for some time yet.”
Finder.com.au conducted a poll that saw the majority of field leaders agreeing that Bitcoin would see a very handsome rise in 2019 due to greater Millennial Adoption.
The poll conducted by Finder.au indicated a strong support of cryptocurrency investment by millennials, with 12% of the age group 24 to 38 saying that they regularly invest in cryptocurrency.
“Millennials are particularly open to embracing crypto in order to accumulate wealth for themselves,” said Finder.com.au and HiveEx.com co-founder Fred Schebesta. “They’ve grown up with digital technology, so it’s little wonder they want to get involved in digital currency. They are looking at investing very differently to their parents.”
The older generations were less likely to get involved in cryptocurrency investment according to the poll, with only 6% indicating an active interest in cryptocurrency. However, this figure is up from last year’s 5%. Only 1% of the Baby Boomer generation being actively involved.
Bitcoin the original cryptocurrency has come out tops again in the poll as being the most popular cryptocurrency to invest in. It is followed by Ethereum in second place and Ripple in third.
The poll did highlight the biggest deterrent to investment is the lack of understanding what cryptocurrency is and how to invest. 11% of participants indicated they did not and probably would not invest due to the fact that it seemed too complicated.
Bitcoin news is encouraging. There is renewed optimism around the possible renaissance of Bitcoin within expert circles. Should the currency rise as predicted by Ben Ritchie, or even to a more moderate level of US$7 000 as predicted by other analysts, 2019 is going to be a great year for any generation that chooses to get involved in the rise of Bitcoin.
Bitcoin’s is also poised for a bright future. Bitcoin news suggests continued growth with continuing millennial adoption of cryptocurrencies. And preference for Bitcoin remains supreme – Bitcoin still remains the preferred crypto coin. With growing cryptocurrency awareness and education, cryptocurrency adoption is expected to continue to grow in the future.
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