From the beginning of the year, the cryptocurrency (BTC, XRP,ETH) market has been swimming in a low price compared to what was seen late last year.
Before jumping down to $3000, Bitcoin was first thought to have a possible touch of $22000 witnessed last year, to the extent that some crypto pundits postulated that the king of coins has the potential of reaching an all-time high this year.
In as much as we have few days to the end of 2018, it is hard to discountenance the possibility of seeing the price of digital currencies upsurge especially now that nearly all coins are now in green.
Bitcoin (BTC): To The Moon?
With the present cryptocurrency condition and the news that institutional investors among many other players are now entering the digital asset space, there is a growing possibility that the value of Bitcoin will go beyond the $3800 mark it is at present.
When institutions like Nasdaq, Fidelity and Intercontinental Exchange are confirming to the world that they are entering the space in full force, there is no reason to doubt the promising tomorrow of cryptos, especially Bitcoin, Ripple’s XRP, and Ethereum (ETH) among other digital assets.
As at the time of writing, Bitcoin has touched $3,800 line, reinventing the hope that the bullish run has begun. At the same time, it is discovered that the whole cryptocurrency market has gained around $20 Billion since Monday.
However, it wont be easy to state that BTC will touch $20,000 this year, but it appears it would in 2019?
One of those who believes in the promising future of Bitcoin is Investing.com Senior Analyst, Clement Thibault, who postulated that:
“Bitcoin holds a big promise of sovereign and sound money – the bubble we experienced a year ago was an unfortunate consequence of human greed and short term thinking. Bitcoin hasn’t changed in the past year and it remains the same asset, whether it’s worth $20K or $3K. It’s potential and usefulness haven’t diminished with the price.”
He however brought some pessimistic view of the digital currency.
“As for a short 2019 outlook, I don’t see Bitcoin reaching new highs in 2019”.
“I believe too many would-be early adopters got burnt badly last year, and once an asset has been labeled a bubble, a gamble, or a speculative investment, it takes time to rebuild the trust and appeal needed to push the asset forward.”
Ripple’s XRP is not Relenting, Trying To Create Wide Margin
Unlike other digital currency, Ripple’s XRP, which has become the king of the altcoin by leading Ethereum (ETH) with over $4 Billion, has been seeing massive growth for some days.
While Brad Garlinghouse, the CEO at Ripple said he believes the startup company would have partnered with half of the world’s top bank in the next 5 years, he pointed out yesterday in an AMA section that regulatory clarity impaired the adoption of xRapid and XRP.
Meanwhile, Ripple is performing excellently, and has seen around 13% increase in the last 24 hours. The digital currency is trying to create a wide margin between itself and Ethereum.