While Bitcoin and cryptocurrency closed out 2017 surging to record highs, they suffered a major decline over the course of 2018. That could change in 2019 based and beyond, based on a recent survey in China, as well as an upcoming decision for general trading.
According to a Forbes report on Monday (Dec. 31), the blockchain company PANews conducted a survey with 4,200 respondents. They found that 40 percent of those respondents “would be willing to invest” in either Bitcoin or cryptocurrencies in the future. In addition, half of all of the respondents had heard of “bitcoin,” “cryptocurrency,” and “digital currency,” showing the terms may be becoming commonplace.
Another potential boost for the overall crypto market may take place in February of 2019. A looming decision about a potential Bitcoin ETF is still on the horizon. If that happens to pass through the powers that be and becomes legitimate, it can push the prices of crypto assets higher. Investors and proponents of the digital assets are certainly hoping for some decisions in their favor in 2019.
That’s good news for the Bitcoin and cryptocurrency enthusiasts out there. Bitcoin, Ethereum, Litecoin, and other cryptocurrencies have suffered major losses over the past year. In particular, Bitcoin was once at or over $20,000 each. It has since dropped to about $3,700 or lower as 2018 comes to a close. Ethereum was trading for over $1,000 each and is now just over $100 as the year ends.
There is also a highly-anticipated cryptocurrency platform in the works called Bakkt which could lead to better days for crypto prices. The project could launch in January and kickstart another bull market for Bitcoin and cryptocurrencies. The project recently gained more traction, despite some potential bumps in the road ahead.
Bakkt was created by New York Stock Exchange parent ICE. As of Monday (Dec. 31), they’d announced the project raised $182.5 million from various “high profile investors and venture capital firms.” According to CCN, the U.S. government shutdown could play a part in delaying the release of the new platform which was initially scheduled for January 24. The firm is expected to provide an update on their progress early in the new year.
