New Finder.com.au Survey of Crypto Experts Reveals Bullish Outlook for Bitcoin’s Price in 2019
Six fintech experts recently shared their view on the price of BTC. They predicted that 2019 would be a better year for the crypto after the 2018 debacle.
The experts, who were surveyed by Finder.com.au said that BTC could see a huge price surge in 2019. They predicted that prices would rise by as much as 84%.
What they had to Say
BTC is currently trading just below $3500. This is a bit over a year after it hit $20,000. The BTC has lost over 80% of its value in that period. The COO of Digital Capital Management was the most bullish on BTC. He said that he expected BYC to hit $9,500 by the end of 2019.
He said that the BTC would get to this figure slowly but steadily. He also said that 2019 might be the year of decoupling crypto. Thus far, all crypto seems to rise and fall at the same time. Additionally, he spoke about the impact of the traditional fiat market on crypto.
The COO also noted that off-ramps and on-ramps in buying crypto would improve as Bakkt and Fidelity Group join the market. However, he was sure that the anticipated influx of Wall Street investors was not going to happen. However, they will eventually come in with time.
Where in the BT Demand
The poll also looked into crypto adoption in Australia. It found that millennials were the most likely to use crypto. Of all respondents, 12% were aged between 24 and 38 years.
In the nation, BTC was the most popular. ETH and Ripple were second and third respectively. In general, about 6% of all Australians have invested in crypto. This is a 1% growth from the figure last year.
The co-founder of Finder.com.au said that millennials were more willing to invest in digital assets. Besides that, he noted that their investing habits were different from those of their parents. Additionally, he noted that the major barrier to using crypto was lack of knowledge. About 11% of all respondents said that it was too complex for them.
Crypto Adoption in the World
Despite the slump in crypto prices, the adoption of crypto has continued to grow. This might help to allay some of the fears investors have about crypto. Some experts believe that market prices are affected by investor sentiment.
Thus, the price might not be an indication of progress in the crypto world. A good indicator of crypto adoption is the number of transactions. Data shows that real-world transactions, outside of crypto exchanges, have grown.
At the start of 2018, there were only 10,000 real-world transactions per day for EOS. However, this has grown to about 6.7 million. It shows people are no longer using crypto on digital exchanges for pure speculation anymore.
This is true for TRON too. At the beginning of 2018, TRON had about 100 transactions daily. By the end of the year, they had grown to 600,000. This was an almost 60,000% growth.