Is it an Opportune Time To Invest in the Bitcoin? Impelreport
The rapid growth of the price of the cryptocurrency attracts more and more investors, who seek to take advantage of its upward trend.
This Wednesday, the price of the bitcoin has marked a new maximum, exceeding $ 11,000 just one day after exceeding 10,000, a bullish dynamic that keeps the interest among investors.
The CoinCodex index indicates that the value of the most popular cryptocurrency in the world has reached a maximum of 11,498 dollars, while in the South Korean exchange house Bithumb already quotes above 12,000.
Since the beginning of this year, the value of this decentralized currency has grown more than 11 times and its capitalization has exceeded 180,000 million dollars, while its share in the virtual currency market is 55.3%.
Investments and new expectations
This new leap is attributed to the influx of new investors and the announcement of the CME Group derivatives market that it will launch bitcoin futures contracts later this year, although it has not specified the exact date.
“Investors from South Korea, Japan and the United States who have monopolized bitcoin these days raise their exchange rate” and, “if futures contracts and then listed investment funds (ETF) are launched ” – something that would attract investors institutional, “will grow even more”, explain members of the digital broker Exante.
Mikhail Maschenko, an analyst at the eToro social investment network, estimates that these last booms are due to the high general emotionality of investors: “Everyone is excited about the news and they rush to buy the currency.”
Added to this are the forecasts of the major players of the crypto market, recently published in various media outlets, which estimated that the price soon reached between 20,000 and 25,000 dollars or more: ” I think they do it deliberately: they induce people to buy bitcoins for that those who play bullish for a long time can sell well, “says Maschenko.
However, some experts expect a possible downward correction of 30% in early 2018 to take place. “The bitcoin grew at the end of last year in the same way as now, but then entered into a significant correction in early 2017. “, remembered the general director of the crypto bank Wirex, Pável Matvéyev.
Thus, at the end of last January the price of that virtual currency fell by almost 30% – from 1,100 to 800 dollars – and that scenario could be repeated. “We expect a considerable correction of the exchange rate, so those who have not yet bought bitcoins and want to do it are better to wait,” because “it will fall to between 7,000 and 8,000 dollars, ” recommends Mikhail Maschenko.