Why will issues change in 2019? There are a number of the explanation why Bitcoin is rising

This year the industry got rid of speculators and is now ready for the arrival of a new class of investors, says Henri Arslanian of PwC.

Correcting the cryptocurrency market and reducing Bitcoin costs from $ 20,000 to $ 3,200 had a positive impact on the industry outlook, said FinTech and Crypto Lead for Hong Kong and China at PricewaterhouseCoopers, Henri Arslanian. In his opinion, the industry got rid of speculators this year and is now preparing for the arrival of big players – institutional investors.

“I think a lot of things are changing on a global level. Take a look at regulatory clarity in 2018, for example. A number of jurisdictions provided more regulatory clarity than before. I assume that more of this will happen in 2019, which will also make institutional investors and actors even more convenient. “Said Arslanian in an interview with Bloomberg.

Despite improvements in blockchain regulation, Wall Street companies are in no rush to break into the digital money market. Major banks such as Goldman Sachs, Morgan Stanley, Citigroup and Barclays have stopped developing their cryptocurrency products due to the lack of demand from their customers.

At the beginning of the year, the value of Bitcoin can rise sharply due to the action where participants withdraw their coins from being exchanged for e-wallets. It will take place on January 3, 2019 in honor of the 10th anniversary of the creation of the Genesis block in the network of the first cryptocurrency. The purpose of the event is to identify fraudulent crypto trading platforms.

“The action can have short-term effects – an increase in the price of Bitcoin. This happens when more people withdraw Bitcoin than those who deposit Bitcoin. If Bitcoin is withdrawn less than usual or similar, we will see slight fluctuations or a decline in the exchange rate, ”said Alex Fadeev, blockchain expert at Soft-FX.

He stressed that the advertising will not have a long-term impact on the cryptocurrency price and the market as a whole. It is required that the number of transactions on the Bitcoin network increase by at least 30% in the first days of January for the event to be successful. Otherwise it doesn’t make sense.

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