Analytics / Forex and Crypto News
Alex Pack, the managing partner of Dragonfly Capital Partners, is sure that no matter how long a Bitcoin rate goes down, it will never drop to zero since this cryptocurrency is the “measure” for other crypto-coin prices. This particular Bitcoin property leads to the fact that more and more people prefer to keep their savings in this cryptocurrency because even in the case of a new global financial crisis, its price will still be non-zero.
The analyst suggests that after the recent price increase, when Bitcoin was near the $4200 mark, the current correction, when the price has reached $3760, could decline to $2000-1000. However, after that, as the expert believes, steady growth will resume. The trader, Alex Kruger, who didn’t see a steady trend behind the recent rise, agrees with Pak’s opinion and believes that Bitcoin price can rise in the first quarter of 2019 when Bakkt platform finally starts trading Bitcoin futures. The managing partner of Dragonfly Capital Partners also spoke about this important factor.
Alex Pack also talked that cryptocurrencies "represent a new era in the evolution of money." In 2017, when there was a significant rise in cryptocurrency prices, the cryptosphere received a large “reserve of trust”, which still persists. In addition, after that “bullish” trend, the news about Bitcoin and other cryptocurrencies regularly are published on the pages of the leading business portals.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov