The crypto market has been enduring the right bear hug since last year.
In fact, the current bear market is the longest ever experienced in the crypto space. Most cryptocurrencies especially Bitcoin still struggles even to surpass the $6,000 price mark. However, Bitcoin is not what it used to be as it declined in its market value by 80 percent since the start of last year.
During the bear market, there were unrealistic predictions from cryptocurrency experts that calmed the crypto market; those predictions kept the hopes of investors and crypto-holders high – some of those predictions still seem to be coming true. But not all.
So, we are only in the first few months of 2019 and let’s admit it, the crypto-market is still experiencing the bear side of the market, but things are getting on the bright side, and some of the long-term Bitcoin predictions are beginning to turnaround.
Institutional Investors Will Start Making Use Of Bitcoin
Over the past few years, cryptocurrencies like Bitcoin have had a long war with institutions. The cryptocurrencies have continued to surge even without the help of institutional money. One thing is evident: Bitcoin needs institutions to invest in it to experience a further cash flow and see a price surge than what it boasts today.
There have been many predictions that institutions will invest on Bitcoin – even though it looked unrealistic back then, investors are gradually taking a considerable step towards looking at the side of Bitcoin and other cryptocurrencies.
Lately, a financial institution: JP Morgan, came up with a plan to have its very own crypto-coin. Although this crypto-coin will not be a real one, it will have some connection between fiat money and stable coin.
Also, another financial institution known as Bakkt has developed an interest in cryptocurrency. Although the Bakkt exchange project hasn’t been fully actualized yet, it is certain that soon enough, there will be some sort of connection and the use of cryptocurrency with Bakkt. More financial Institutions are joining the trend to adopt cryptocurrencies, which will work as a catalyst for Bitcoin’s growth.