The BTC price is a topic which is constantly in the main headlines of many best cryptocurrency news sites these days. According to top-tier hedge fund executives, Bitcoin will continue its rise of 114% in 2019 and visit the mid $9,000 region before the year ends.
In a prediction that was first published on the US comparison website Finder which surveyed ten FinTech capitalists including executives from hedge funds Arca and BitBull Capital on Friday, the news showed that a majority of these execs expected that the BTC price would pull back from the $8,000 level. However, their prediction is strong and says that a rebound in June will push the cryptocurrency’s price to as high as $9,659 by the end of the year.
The reason why this is in the latest cryptocurrency news – and why the execs are so bullish – is quite simple. The April and May trading session alone saw an increase of 50% in the BTC price, making it rise from $4,000 to above $8,000. At the same time, a lot of mainstream financial markets underperformed which owed to escalating the economic tensions between the United States and China.
The surge in $BTC continues as the mounting fear about war with China drives US investors to look for safety, The only asset to outperform is the non correlated #Bitcoin, proving again that all $USD denominated assets such as stoc…https://t.co/j3Y1wz9hsc https://t.co/evkI9yIozO
— Alex Mashinsky (@Mashinsky) May 15, 2019
The Finder survey participants were also very quick to notice the relationship between the two events – the coming altcoin news show. Around a half of them said that mainstream investors diverted their capital from interim bearish equities to Bitcoin – as a strong sign of risk management.
Meanwhile, the institutional investors are also seen as the ones who got in the rat race and have been building new services around the Bitcoin market – and as such were one of the main drivers in the latest BTC price rally.
“Eight out of 10 panelists think the price of bitcoin increased due to cryptocurrency-related announcements made at Consensus 2019 in New York City,” said Finder in the survey.
After the Consensus event finalized, the BTC price surged by more than 77% as a result of the positive news. The COO at Kinetic Capital which is a cryptocurrency trading firm, David Wills, recently said that the Bitcoin price is due for gains because of its potential for broader adoption as a currency.
“Last year, the bear market was in part caused by the fallout from many loss-making, unsuccessful initial coin offerings, and the participation by [a number of] questionable players that attracted regulatory scrutiny in cryptocurrencies,” Wills told the South China Morning Post.
CME BTC Futures Volumes Hits 4-Month Low: Analysis
‘’ of a 2nd example of my fear. The out of no where dump in bitcoin on 9/6, it started at 1pm. The Bitcoin futures dump started at 1235pm on the CME futures. It seems to me bitcoin is now controlled the way equities markets are: by a small minority trading in an illiquid futures mkt’’It is still unclear whether the new Bakkt futures would have a similar effect since, in theory, the traders could acquire physical BTC by acquiring a contract and holding it until the settlement begins. They will be credited with the actual BTC later. Despite the low volumes, the CME increased the spot-month position limits and BTC still remains unpredictable so it is possible that there is some more increasing interest in trading. As per the latest cryptocurrency news, the CME futures market seems to be active in comparison to the CBOE product which was eventually discontinued before the big summer rally which sent BTC to a yearly peak.
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Investment App Abra To Sell Crypto In 6,000+ 7-Elevens In Philippines
“Now Abra users in the Philippines can quickly and easily add pesos into Abra and use that to invest in cryptocurrencies or popular stocks like Google, Amazon, Facebook, etc., which opens up a world of new possibilities to build wealth.”The investment app Abra was in the news back in February as well. Then, it said that it was launching a new service which allowed customers to invest in fractions of stocks of NASDAQ-listed firms. The app also supports 30+ cryptocurrencies and 50+ fiat currencies. According to the general manager at ECPay, this partnership “widens the product and service offerings of ECPay to its Collection Partners like 7-Eleven, NCCC Department Stores and Supermarkets, LCC Malls and other Remittance, Pawnshop partners." For those of you who don't know or are not following our altcoin news, the Philippines adheres to the Cagayan Economic Zone Authority (CEZA) which unveils a comprehensive set of new rules that govern cryptocurrencies. All of this was made in a bid to effectively regulate and protect investors. Under the rules, all Digital Asset Token Offering (DATO) regulations must have proper offering documents with pertinent details on the issuer, project and accompanying advice and certification of experts and DA Agents.
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