We had reported last month that ‘Crypto Market Gets 84% Down On Anniversary Of All-time High‘, however it seems that some experts are of the opinion, that BTC could rise 84% in this year alone.
A group of experts who have been surveyed by Finder.com.au, have predicted that according to their study of the market, Bitcoin could witness a potential 84% price rise in 2019, which to be honest, sounds like a very ambitious prediction to make.
With the current turbulence in the market, it seems unlikely that any such rise will actually take place. Although we are hopeful and do predict a better condition for crypto by the year end than what it was in the beginning of the year, this prediction still seems like a reach for us.
Ben Ritchie, the chief operating officer of Digital Capital Management, has till date made the most bullish price prediction regarding crypto, saying that it could very well reach $9,500 by the end of the year. He said that the increase in the price of the coin will be slow and steady during the year.
He commented:
“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.”
He however believes that there is not going to be an inflow of institutional investors into the market in this year, but that traditional markets will have a significant impact on digital currencies.
The survey poll highlighted crypto adoption amongst Australians and the results clearly pointed at millennials being the biggest adopters of the cryptocurrency. To demonstrate that fact, consider the statistics. 12% of the survey respondents between the age of 24 and 38 years admit to being crypto investors.
Fred Schebesta, the co-founder of Finder.com.au and HiveEx.com, has justified the above by saying that millennials have different investing habits compared to their parents, which is why they are more open to investing in crypto.
The survey also says that 6% of adults in Australia are crypto investors, which is a 1% increase from last year.
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