Bitcoin is holding strong, may hit $10k mark soon; Fundstrat analyst

One of the Fundstrat Global Advisors, Tom Lee has stated that the persistent slow market of 2018 is over. The advisor postulates that there is a noteworthy flip in market sentiments at present which might lead to swelling of investor’s desire for Bitcoin.

Talking to media, Tom opined that the risk appetite is good for the bitcoin market and if S&P 500 makes a 2.5 SD move, the investors will be experiencing volatility that will result in structuring a positive base case for bitcoin market.

Lee, who is well-known for fore-casting BTC price has faith that Bitcoin will surpass ten thousand dollars ($10,000) in 2019. As earlier reported by media, vital market forces have recently shifted to the positive. This shift successfully forms a tailwind which will in return drive the price of BTC $5138.38, approximately +0.19% higher in the year 2019.

A famous market analyst, Naeem Aslam believes that the existing monetary policies implemented by central banks across the world are untenable. He added that the current monetary policies have become obsolete. They have fueled buybacks and inflation of the asset costs. This will soon turn people to digital assets.

Travis Kling, the Founder and Chief Investment Officer of Ikigai Asset Management, has also advocated similar views. He stated that the policies of central banks are highly politicized and hence people are now picking to use Bitcoin as a fence against the grays of reckless monetary policies.

Though numerous analysts approve Bitcoin to be set to experience a bullish pace in 2019, still there are key issues that smother wide-ranged acceptance of cryptocurrency.

Chief investor at the digital currency group, Travis Scher believes that people need a high level of education to value BTC and cryptocurrencies generally. He further added that a layman doesn’t know anything about blockchain technology.

According to a survey conducted by a Russia based Public Opinion Research Center presented that 74 percent of Russians are aware of BTC, but only a minority actually understands how the technology actually works.