According to research conducted by the analytical group of IronWood in the field of scriptaction, the price of Bitcoin could increase to $35,000 with the advent of funds to Bitcoins, and this is not the limit.
The road to $35 000
Famous investors, among which Ari Paul, one of the founders of the cryptocurrency hedge Fund BlockTower, founded by the former Executive Director of Goldman Sachs, stated that the next medium-term growth in the value of cryptocurrencies is likely to be stimulated by institutional investors by the end of 2018.
He stressed that the last barrier to the promotion of institutional investors to the market of digital currencies is the lack of reliable regulation and a limited set of crypto products. After addressing these issues, institutional investors are free to enter into the cryptocurrency market.
The involvement of institutional investors in the market of digital currency is not only an opportunity to increase the value of the leading digital assets such as Bitcoin. The emergence of publicly traded instruments such as ETFs, may also contribute to the next rally and IronWood researchers believe that the ETF will be an incentive for the next medium-term recovery.
The market correction did not prevent its rise
At this time, the market is on the background of a sharp correction, which third of the largest with 2014. The price of Bitcoins has fallen 65% from record highs, but retail investors are quite pessimistic short-term growth trends.
But, as in previous periods of recession in 2010, 2014 and 2016, the market then there comes a period of accumulation, during which the company begins to build the products and infrastructure required to stimulate future rallies.
Michael Stratton, head of IronWood, noted that if the ETF is approved by the Commission on securities and exchange Commission (SEC), any large investment Fund, such as Fidelity and Ameriprise Financial, can easily invest in futures on Bitcoin and then the price of BTC goes up, in accordance with its provided computing to $26 000 to $44 000.
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