- Bitcoin is trading at $9211.87 and is going to keep the bullish trend alive.
- The price expected to touch $14000 by the end of 2025. Moreover, a nearly long term investment could rise approximately by +9.22%.
- A Poll posted by Analyst Plan B suggests that the investors holding Bitcoin have outnumbered the sellers.
At the time of this writing, Bitcoin is trading at $9211.87 and is going to keep the bullish trend alive. A report suggests the Bitcoin price expected to touch $14000 by the end of 2025. Moreover, a nearly long term investment could rise approximately by +9.22%. Additionally, A Poll posted by Analyst Plan B suggests that the investors holding Bitcoin have outnumbered the sellers. It will shoot up the prices in the future.
Interesting poll result:
– 84% is holding/buying/DCAing bitcoin
– buying:selling = 4:1 .. should result in higher prices, but sellers are obviously not among my followers
– sellers indicate they are trading or selling bitcoin to buy altcoins to get more bitcoin (weird logic IMO) pic.twitter.com/N1astjGHzX
— PlanB ? (@100trillionUSD) July 10, 2020
Bitcoin Is Considered As Digital Gold
The cryptocurrency market is completely uncorrelated to the rest of the world that should provide asymmetric returns to investors. Earlier this year, the digital currency rallied at par with gold. US Congressman Brad Sherman has shared his concerns regarding Bitcoin toppling USD as the major currency reserve in the world. It crossed the $10,000 mark before its halving event in early May. It further took its market capitalization to $13 billion considered very well for a medium with storage value.
Interests From Institutional Investors And Favorable Monetary Policy
There has been an increase in interest shown by institutional investors in Bitcoin. A strong number of 80% European and US institutional investors find cryptocurrency appealing. Furthermore, favorable monetary policies on the part of central banks have also allowed for the growth of cryptocurrency. The bitcoin futures increased tenfold from December 2017 to February 2020 rising from 538 contracts to 6000 respectively. The Bakkt Bitcoin Futures allowed the physical settlement of Bitcoin contracts last year that has helped institutional investors a lot.
A Bright Outlook For Bitcoin Investors
Considered as a safe-haven for investors by many experts, Bitcoin will keep growing with the current market trends. A stronger bull run expected to drive the price upwards for better investment returns. There are no signs of lack-luster trading as investors are confident of positive results. Lastly, the longer duration technical charts suggest a bullish trend and the least resistance to the upper threshold.
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