Different countries are worried about Bitcoin and the different cryptocurrencies in the market. Among the main reasons, countries argue that cryptocurrencies are used by criminals, terrorists and tax evaders.
But during the last month, the rhetoric has been different. There were positive comments towards Bitcoin and other alt-coins. In 2018, the cryptocurrency market is expected to grow, according to different experts in the matter like Ronnie Moas.
“The demand for Bitcoin is growing as the crypto market has become less volatile, and an increasing number of professional investors see it as insurance,” told an analyst at eToro Mikhail Mashchenko to RT.
Big Money Arrives at the Crypto Market
This year different hedge funds and important investors have started to pay attention in Bitcoin. For example, at UseTheBitcoin we covered how TOBAM, Paris Asset Management Company will start a Bitcoin Mutual fund.
Another example of this is the Chicago Mercantile Exchange (CME). This known futures exchange has announced that they will launch Bitcoin futures in the fourth quarter this year. This opens the doors to new money to arrive at the cryptocurrency market.
If different funds, individuals and investors start to take Bitcoin seriously, it could work as a safe haven if a crisis arises. While the traditional markets will have difficult situations, the cryptocurrency market would work as a haven for these investors exposed to the crisis.
This situation will certainly push Bitcoin prices up. Something similar to what happens to gold when a crisis explodes. Its price tends to go up when the instability is installed. Once the worse situation has passed, then, investors sell and the gold stabilizes again.
“We could see a Bitcoin at $10,000 in a month or so. However, such a surge will be based on emotions, not on fundamental factors. So, further growth of the cryptocurrency will require something more than euphoria,” kept saying Mashchenko.
Not Everyone is Sure About That
Mashchenko is a financial investor that believes in Bitcoin and the cryptocurrency future. But this is not shared with everyone in the banking sector.
Other experts and figures in the markets, like JP Morgan Chase CEO, Jamie Dimon, have said that Bitcoin is a bubble and it can’t last longer. For these people, Bitcoin could explode before the appearance and expansion of any economic crisis.
Nouriel Roubini has also said that Bitcoin will not survive. In his opinion, regulations will not be able to stand against regulations.
“In my opinion, there is a gigantic speculative bubble related to the Bitcoin because this is neither a serious method of payment nor a good way to store capital,” Mr. Roubini told in an interview.
Even though people have different opinions about Bitcoin and the cryptocurrency market – those would be one of the safest ways to keep the funds secure in case of a crisis.