The year 2018 was a dreadful year for Bitcoin and all other altcoins. But toward the year’s end, the price of the coins got some momentum. Technically speaking, we can see a balanced picture of Bitcoin now.
On Wednesday, it has seen a new height by touching 4.65%. It reached its maximum level in the last two months. This is a good indication for the people who want to invest in the virtual market. Many market analysts are quite optimistic about the fact. They think that bull is back on track.
Good news is coming in for other coins as well. Traders are optimistic that the price may rise even high. The price of BTC has seen the new height after its drop in recent times. The price may increase if the regulations are made clear, let us see the detailed report.
Regulation will give Bitcoin a relief
According to the experts, regulatory uncertainties are putting massive pressure on the Bitcoin price. As the regulations become clearer, it can reach new heights. The mainstream investors are still apprehensive to invest in the crypto market as the regulations are still vague. Despite its struggle for regulation Bitcoin still remains bullish in 2018.
Temporary relief
Some experts have opined that the current price surge of Bitcoin is a relief for a while. They pointed out that current positive regulations have to lead to the price surge. Adoption of these coins by the end users will lead to sustained price rally.
Many Bitcoin followers believe that the coin may reach the value attained last year if mainstream investors bets on these coins.
Some of the other reasons that may push up the Bitcoin price are:
FSB
The Financial Stability Board (FSB) said that it is planning to monitor cryptocurrencies at banks and another significant financial system.
Billionaire investing in crypto hedge funds
Some of the billionaires are getting attached to the Bitcoin and blockchain and are planning to invest into the crypto hedge fund, and are planning to invest through their private investment vehicle.
What to expect from the market in the coming year?
The market is seeing ups and downs because of uncertainties not because of the poor performance of the coins. It is expected that in the coming days the Bitcoin price may squeeze a bit. The market is expecting more from the significant coins, and they are the players who can tell whether it will reverse and will set a new momentum.