Alex Kuptsikevich recently talked about Bitcoin’s promising performance as it passes the $7,000 point and seems set to reach $8,000. Kuptsikevich is the senior financial analyst at financial broker FxPro.
[Bitcoin and cryptocurrency] purchases follow the signs of improving sentiment in the stock markets.
Kuptsikevich believed that BTC was seeing gains because investors had become more settled in the performance of the cryptocurrency, expecting that it will continue to rise despite speculators saying no.
As soon as risk assets start to attract demand actively, institutional investors may also increase their positions in the cryptocurrency.
He wasn’t the only one who shared such sentiments, Naeem Aslam felt that investors had now reached the point where they felt the trend could be trusted. He was expecting a bullish in the short term raising the price to $8,000. Bitcoin had reached $20,000 in 2017, so it doesn’t seem impossible to reach such highs again.
The chief market analyst for AvaTrade had this to say:
Investors are shrugging off the pessimism.” He added “with more intensity [and] we could be in a for a longer period of recession.
Analysts are expecting a bullish, others think they will be bearish, but the markets will decide. What are your thoughts, share with us what you think below. Visit Forbes.com