The Bitcoin bull market has been hitting the strings and will reach $100,000 at the end of the year. Does this wave predict you believe?
Saxo Bank analysts said that there will be a new round of growth in cryptocurrency prices, and the second quarter of 2018 will be seen as a springboard for a new round of gains.
Bull Market: Self-fulfilling Prophecy
In the quarterly outlook released this week, the well-known “Bitcoin-friendly” Saxo Bank stated that a combination of global political uncertainty, tight credit channels, and commodity price fluctuations may all contribute to new capital inflows. Cryptography currency area.
Saxo Bank analyst Jacob Pouncey wrote:
In addition to the tightening of supervision in some countries, leading to further price declines in the short term, the sell-off of large cryptocurrency institutions such as Mt Gox may cause the entire market to face continuous selling pressure.
However, several events in the second quarter may become a springboard for the cryptocurrency bull market. Whether through the underlying drivers or just a self-fulfilling prophecy.
Recent predictions from major analysts in the cryptocurrency industry have become increasingly active and Saxo Bank has also joined it.
As previously reported, although the cryptocurrency leader has lost more than 70% of the market value since last December, there are at least 10 bullish price forecasts in 2018.
In these forecasts, Kay Van-Petersen, another analyst at Saxo Bank, topped the list, and Kay Van-Petersen expects Bitcoin to reach $100,000 by the end of this year.
Jacob Pouncey also came to the conclusion:
In my opinion, the current negative cycle of cryptocurrency will come to an end because many small speculators have already been eliminated from the bear market. The rest of the investors are ready to take action as soon as the good news is released.
Let us not forget that Saxo Bank is particularly famous for its price forecast for Bitcoin. In 2016, when the Bitcoin price was between $450 and $950, the bank's analysts forecast that prices will reach $2,100 in 2017.
Original: http://bitcoinist.com/saxo-bank-q2-2018-cryptocurrency-bull-market/ https://cointelegraph.com/news/saxo-bank-cryptocurrencies-could-see-springboard-bull-market- In-q2-2018
Author: WILMA WOO & William Suberg
Compilation: Marko Vidrih
Sources: Babbitt Information (http://www.8btc.com/saxo-bank-q2)