Money

Bitcoin manages to rebound and investors remain on the lookout

What do analysts think about Bitcoin?

Even so, the experts clarify that “these movements are being between private wallets for the most part”. “You do not see an increase in the flow of capital towards the exchange platforms, which is always a first step to see large movements, which makes us think that we are not yet in the moment or in the necessary disposition to see a new one. ‘ bull-run ‘”.

“The situation is stable and for now the support areas are maintained, since there is not excessive selling activity,” they add, so they indicate that they remain “on the lookout” in what “supposes a clear phase of indecision.” Within this context, it is true that with this increase in institutional volume “the possibilities of seeing movements of a certain dimension increase significantly, so that the next few hours or days could give us new signals about the evolution in the medium term”, they conclude from the investment vehicle.

In the last hours, Cathie Wood, founder and CEO of Ark Investment Management, which manages more than $ 50 billion in assets, He expects the price of Bitcoin to exceed $ 500,000 in the next five years. “If we are correct, and companies continue to diversify their cash into cryptocurrencies, and institutional investors begin to allocate 5% of their funds to this sector … We believe that the price [de bitcoin] it will be ten times higher than today, “explained Cathie Wood, in statements collected by CNBC.

Wood also said that his trust in Ethereum has grown as the blockchain begins its transition from proof of work to proof of stake. Ether was trading at $ 3,294, down 2.8% in the past 24 hours.

When asked by CNBC what his options are, if he were only to invest in cryptocurrencies, Wood said he would allocate 60% to Bitcoin and 40% to Ethereum.

TAMMY SEWELL

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: Tammy@oicanadian.com Phone: +1 513-209-1700

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