Bitcoin: new growth is expected in 2019

February 11, 2019   Bitcoin

The cryptocurrency market demonstrates traces of recovery, follows from the report of the California cryptostartape SFOX. This February market sentiment switched to "moderately bullish", whereas in January they were "moderately bearish."

The multifactor SFOX index, which depends on variables such as volatility, dominating sentiment in the market, as well as indicators of the upgrowth of the industry, signals "moderately bullish" climate in the financial market.

Although the hype connected to blockchain in general and cryptocurrencies in particular is a bit hasty, there is a stable interest in the industry of virtual assets among institutional investors.

Bitcoin in 2019 is waiting for new growth according to the new forecast of the Fundstrat Global Advisors analytical agency. Nevertheless 2018 turned out to be the period of kind of hangover after the  records of December 2017, this year might be more favored for bitcoin.

Financial experts believe in an increase in institutional investors' activity raise in the virtual currencies industry.

Moreover, the impulse to higher investor demand for bitcoin might be the addition of support for bank cards on Binance recently, the very probable reaching of a critical mass in Lightning Network, and the IPO of such major cryptocompanies like Bitmain and Bitfury.

The going down of the US dollar and the growth of stock markets in developing countries should have a good effect on the price of bitcoin. "The overall situation for Bitcoin should improve during 2019," concludes company analyst Tom Lee. Recall that in  December, Tom Lee avoided to give any other predictions about bitcoin fair price.

From other news. According to a new study by TradeBlock, the trading volume of bitcoin futures on the CME and CBOE stock exchanges fell to December 2017, after reaching a peak in the summer of the previous year. Investor interest in Bitcoin futures is gradually fading.


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