There is a lot of positive momentum as far as Bitcoin is concerned. Even though the price is struggling a bit right now, experts are convinced things will keep improving. This recent Bitcoin price rise has caused a lot of speculation and confusion. It seems the upcoming technical upgrades, combined with big investors, are to blame for this sudden change of pace.
Everything Comes up Bitcoin
The year 2018 has not been too great for Bitcoin and other cryptocurrencies thus far. With a strong bearish trend during Q1 of this year, naysayers were convinced this would be the end for Bitcoin. In reality, it seems as if the markets are recovering pretty quickly. A temporary dip will occur regardless, as is only to be expected at this stage. Even so, the upcoming technical advancements for Bitcoin will make a big impact on this industry.
Scaling Bitcoin has been a pretty big problem for several years. It now appears we may finally see proper improvements in this regard. The lightning technology solves a lot of problems, although further developments are still warranted. At the same time, there are some positive regulatory changes which make Bitcoin a lot more appealing all of a sudden. Although regulation will always be a controversial topic, it does provide more legitimacy to this industry.
There is a second positive aspect to Bitcoin regulation. With big investors now paying attention to cryptocurrency big things are bound to happen. Proper regulation will attract institutional investors at some point. So far, George Soros and the Rockefellers have made their Bitcoin investment strategy pretty clear. Regulating Bitcoin gives it a more legitimate investment appeal, which is something the world’s leading cryptocurrency direly needs at this stage.
Will the Bitcoin Price Surge Continue?
That question is a lot more difficult to answer right now. With negative pressure forming on the charts, anything is possible in this regard. The overall trend for the Bitcoin price remains pretty positive, which is all anyone can ask for. Institutional investors will pour money into Bitcoin, especially if the prices drop a bit further. Moreover, it seems traditional industry entities, such as banks, are also looking into offering Bitcoin trading services later this year.
One of the companies doing so is Goldman Sachs. The firm recently made an important hire to explore the option of setting up a Bitcoin trading desk. These plans have not been finalized at this point, yet they paint an interesting picture. UK bank Barclays is also thinking along the same lines, but has not officially made any announcements regarding an imminent launch.
Keeping the bigger picture in mind is always important when it comes to Bitcoin. This volatile cryptocurrency has seen solid upward momentum since its inception. It seems evident this trend will continue unabated, at least according to cryptocurrency experts.. In their opinion, reaching $10,000 is the next psychological barrier waiting to be broken. When that will happen exactly, remains unknown.