Bitcoin price will continue to rise according to analysts

Bitcoin price will continue to rise according to analysts

An analysis published by Messari reveals that, in 2019, Bitcoin performed better than any other type of investment. Cryptocurrency rose 114% over the price at the end of 2018, even taking into account the recent price drop.

By comparison, gold increased by 17%, and 10-year US Treasury bonds produced only 1.6 percent. The 500 Standard & Poor index rose by only 21% until September 30.

Another assessment conducted by Goldman Sachs last week revealed that shares in information technology companies were the best performing sector this year. They had a return of 31%, much better than bonds and gold.

Bitcoin was not mentioned in the report, which shows that large companies on Wall Street are not yet trading digital assets on a significant scale. But so far, Bitcoin’s profitability is almost four times higher than any other type of stock.

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Analysts say the price of Bitcoin will continue to rise

The slowdown in the global economy and the negative yield on government bonds in Europe and Japan could attract a new wave of Bitcoin investors.

“Bitcoin is slowly becoming digital gold, but it hasn’t got there yet,”

said Qiao Wang, head of Messari products.

But many industry analysts believe that escalating the US-China trade war could be a catalyst for cryptocurrency prices. Currently, Bitcoin is trading at around $ 8,000.


Wang claimed that he conducted an informal survey among his colleagues. Following this, the price of bitcoin will continue to rise, the average forecast for the price at the end of 2019 was $ 13,252.

“The value is completely in the realm of possibility”,

he said.

There are also risks, such as the prospect of regulatory restrictions being implemented

“Obviously, it could go even further,”

Wang said.


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