Bitcoin greens are signaling a bullish momentum, a sentiment mirrored by experts as they believe Bitcoin will be hitting $10k by next month and that cryptos have a bright future ahead.
Bitcoin is succeeding & taking a jump
Bitcoin is maintaining its winning streak as since the month started, it has been slowly and steadily climbing upwards. At the time of writing, it has been exchanging hands at $7,306, reaching $7,350 today at one point. With a market cap of $125 billion, it is managing the 24-hours trading volume of over $3.9 billion. As you can see in the chart, Bitcoin has gained a nice upward momentum in the last three days.
So, the question is are the bulls really here and ready for the rally to start? According to the experts, it has indeed started.
Hermann Finnbjörnsson, the founder, and CEO of Svandis, a Bitcoin and crypto advisory firm is definitely feeling the Bulls coming on:
“I believe that [the bitcoin price] will hit $10,000 by the first week of November. I think that there are a lot of reasons to be bullish on bitcoin. [There’s] Less than a 1% chance in my mind that bitcoin won’t succeed.”
Cryptos have a bright future ahead
The first week of the November will see the launch of Bakkt, a federally regulated ecosystem for Bitcoin by NASDAQ parent company ICE. This has further boosted the bullish sentiments of the crypto industry participants among others.
The similar bullish thoughts are echoed by Michael Terpin, a partner at Alphabit Fund, stating:
“Technology will adapt cryptocurrency to be something that you can go and buy on your phone.”
Russell Korus, the CEO of EX Exchange commented on the attraction point of Bitcoin to The Street:
“There are numerous reasons why this new asset class has captured people’s imagination since its inception in 2009 — bitcoin displays a number of characteristics that make it a very powerful and alluring concept. It allows for direct, peer-to-peer transfer of value in completely trustless transactions.”
He further shared his views on the bright future of cryptocurrencies:
“Cryptocurrencies, and the distributed ledger technology that they are built on, will do nothing less than change the world in the most fundamental ways. They will have more impact on society over the next 20 years than the Internet has had over the last 20. The future of cryptocurrency is very bright.”
Bitcoin hitting $10k in November holds considerable weight as Bakkt has been described as one of the biggest and bullish news of 2018.