Bitcoin (BTC) Price May Hit $15,000 This Year… Here’s Why

Bitcoin price this year has become a litmus test for the resolve of bulls to stay bullish or take the exit over its bearish performance. So far, Bitcoin price is fluctuating daily, suggesting that the best time to sell off the coins may be now.

Many investors share concerns that the digital currency may never reach $10,000, given its recent swings between $6,000 and $7,000. However, a crypto-asset investor has a different opinion, and he has salient points to back up his arguments.

Rise Of Bitcoin

A former staffer of Goldman Sachs, Christopher Matta, believes that Bitcoin could still return to $15,000. As a matter of fact, he is investing his mother’s savings in Bitcoin in the hopes of making some profits when Bitcoin hits his projected price.

Matta opines that many conservative crypto-asset investors believe that risk adjusted return on the virtual asset is far more manageable than those of other asset classes despite Bitcoin volatility.

Advice

Matta urges all Bitcoin investors to remain calm. He notes that investment in crypto-assets is a long-term investment that offers high yields over time. Additionally, he urges investors to make their investments between 2 to 5 years. Matta adds that such a duration will be good enough for the virtual currency to appreciate in the market.

Why He Is Optimistic

He further said that more regulators are coming into the market. Matta believes Bitcoin’s future is bright as they will introduce important regulations to the market. He posited that with more infrastructure built, more retail and institutional investors are likely to try the seemingly volatile market. Matta said that products like Exchange-traded Funds (ETFs), a tracking security, will encourage rise in access to asset class in the near future.

Connection Between Futures Market And Bitcoin

When he was asked if the coming of a futures market diminished Bitcoin’s scarcity value, Matta said that he can’t establish a connection between the two. Many analysts believe that gold ETFs diminished its scarcity because of the futures market.

Background Information

A futures market is a well-structured central exchange which enables cryptocurrency investors and traders to meet to trade different alternative currencies. Basically, these platforms allow traders to place orders for cryptocurrencies based on what they think the future price would be as against the currency price. For instance, a trader may forecast that the price of Bitcoin will rise to $12,000 in three weeks; this allows him to enter the market and buy Bitcoin at $10,000. BitMEX, Coinpit and Crypto Facilities offer this service.