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Bitcoin has started an upward trend

04/03/2019
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It seems that the cryptocurrency winter ended along with the calendar. Within a few hours, the Bitcoin rate rose by 17% and broke through the $ 5,000 mark. After that, a small correction began, and it dropped to $ 4957. However, experts are confident that the period of low prices for cryptocurrencies has come to an end.

Brian Kelly on Bitcoin Takeoff

The head of the investment company BKCM LLC Brian Kelly is confident that the next target for cryptocurrency will be the level of $ 6,000. According to the expert, almost all indicators are now talking about the continuation of the uptrend.

According to the rules of technical analysis, the price of a financial asset cannot be in one place for a long time. If it is not able to break through an important level of support at the moment, the growth in customer activity begins.

The graphs have a picture that shows the completion of the stage of low prices for the cryptocurrency. Investors are not willing to sell it below $ 3,500, as this is clearly an undervalued price for this asset. Kelly believes that the demand for bitcoins is shaped by the arrival of institutional players. For large financial companies, all necessary infrastructure is now created.

What is required to the institutional investor

In order for large players to actively enter cryptocurrency purchases, they need an appropriate financial instrument. Although the American regulator in every possible way delays the decision on a Bitcoin ETF, its European counterparts are behaving more actively.

For several months, investors have been trading Bitcoin-ETF contracts on the Swiss stock exchange SIX. A similar opportunity has appeared with investors from Germany.

In addition, platforms for over-the-counter cryptocurrency trading are actively emerging in the world. This allows institutional investors to acquire this asset at more attractive prices and with minimal risk. And the development of custodial services solves the problem of cryptocurrency storage. That is, we can say that all the necessary infrastructure has already been created for major Bitcoin buyers.

Who moves the cryptocurrency market

However, not only big players have caused the growth in demand for Bitcoin. Smaller investors also receive various services and increase the safety of investments. Cryptocurrency has ceased to be a marginal financial tool that is available only to enthusiasts.

TrustToken launched TrueGBP stable coin, which is pegged to the pound sterling rate. Now each user through the TrustToken application can not only store funds in pounds but also exchange tokens for any cryptocurrency.

There are many applications in the network that allow you to buy and sell bitcoins almost without risk. Moreover, the average transaction fee fell below 1%. It is much more profitable than transfers through traditional banking structures.

It seems that cryptocurrency has become a normal part of everyday life. Moreover, some experts believe that they can force the dollar out of financial circulation. Just a couple of days ago, the Deputy Minister of Finance of Argentina, Felix Martin Soto, stated this during his visit to China.

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