It is exactly one year now since bitcoin reached its highest ever value at $20,000 before crushing. Many cryptocurrency experts seem to be certain that bitcoin price will regain to its last year’s glory by 2019. According to cryptocurrency portfolio manager Jeet Singh the current Bitcoin price volatility is completely normal.
Currently, Bitcoin is trading at $3,777.30 about 5 times lower than its December 2017 prices. On the volatility in the price of bitcoin, Jeet Singh compared Bitcoin to the stocks of companies such as Microsoft and Apple after they just launched. He stated that as soon as these companies developed their business models, their stocks not only rose in value but also stabilize.
Now many cryptocurrency investors are not sure of what the future holds. Jeet Singh said long-term investors need not worry about the volatility at all. He stated that long-term investors should have no problem holding Bitcoin for a longer period of time.
At this time we cannot accurately tell if Mr. Jeet Singh assertion of bitcoin is correct or not. But the truth now is that investors are worried about putting new money in the bitcoin market. Most investors would rather wait until the volatility in the market settles down and bitcoin resume its normal uptrend movements.
Most individual investors are patiently holding onto their Bitcoin deposits to see if things would clear out any time soon. Meanwhile, institutional investors are increasingly getting involved in the cryptocurrency.
The global cryptocurrency communities think that institutional investors would improve bitcoin credibility. It is expected that once the regulatory bottlenecks are sorted out Bitcoin would come back to its feet and gain more value.
Check here: Bitcoin Price Predictions in 2019