2019- What’s Next for the Cryptocurrency Market?
After a brutal 2018, in which a bear market persisted and wiped approximately $700 billion dollars off the market cap of the cryprocurrency market, traders and investors are divided on how 2019 will play out. Large blue chip Crypto currencies have been trounced. XRP, a bellwether of the market has been slashed from its 2018 ATH of $3.5 to its current price of $0.45 and the king of cryptocurrency, BTC is still flirting with $7,000. What will 2019 hold?
The biggest catalyst in 2019 will be the falling stock and real estate markets around the world. Investment firms including VanEck and Goldman Sachs have expressed interest in creating a Bitcoin ETF and more futures and options to be traded on the market. These products may be tailor made for these firms to weather the coming and present market storms.
Stock buybacks and centrwl bank crash protection make up the bulk of the market gains, with a declared $1 trillion of buybacks that will prop up the market. Berkshire Hathaway purchased $1 billion of its own stock even after the tech stock correction. This shows a major weakness in the market that will create a bullish cryprocurrency catalyst. Central banks will inject cash into the markets and buy struggling assets. If a Bitcoin ETF is created, they will buy it as well, creating a bullish move for cryptocurrency.
A number of analysts, investors and public figures are divided. Will cryprocurrency slowly bleed out on the table? Will cryprocurrency enter a massive bullish uptrend like Mccaffee has said? I believe the latter will hold true in Q4 2019 after the FUD has been flushed out of the system. I see blue sky and have rose colored glasses on. Hope springs eternal in my mind.
What are the catalysts? The Vaneck Vectors ETF, stock market crashes around the world and love of Cryptocurrency in developing markets are heaping fuel for a bull market. What are your thoughts on the catalysts?Recommend0 recommendationsPublished in