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Two Major Catalysts Will Push Bitcoin Prices Up
October 17, 2018

You may found that Bitcoin prices have been at historic lows throughout 2018 if you have checked the bitcoin history graph, with current resistance at $10,000, $8,000 and $7,000. Regardless of what is the low point of Bitcoin, its stability at $6,000 is optimistic. In addition, there are two major catalysts may significantly boost bitcoin prices in the next two months.


1.Strengthening of cryptocurrency infrastructure

At present, the central banks of the United Kingdom, Singapore and other countries exploring the issue of encrypted digital currency. Under the circumstances of accelerated exploration, the construction of critical infrastructure is still the focus and difficulty of the issue of encrypted digital currency. Therefore, countries are working hard to strengthen the construction of cryptocurrency infrastructure in 2018.


In early 2018, two Russian states were prepared to accept cryptocurrency mining infrastructure to help the industry become an industry; in August, the German stock exchange launched an “end-to-end” cryptocurrency infrastructure, the global Bitcoin ATM machine has broken through 3,000 units this year, etc,.


The founder of Give Byte said: Better cryptocurrency infrastructure will promote bitcoin price recovery. Especially Bitcoin ATM, e-commerce payment gateway, mobile wallet, POS terminal accepts encrypted goods, and supervision.


2.Institutional investors who are afraid of missing opportunities

As bitcoin currency and a large number of altcoins set a new record high in December last year, a severe market adjustment followed, and the market began to stabilize until the middle of this year. However, after July this year, there are more and more encouraging signs that institutional investors are changing their attitudes again, suggesting that the adoption of mainstream investors is coming.


Let’s take a look at the Wall Street giants who seem to be laying the groundwork for a massive entry into the cryptocurrency market. In July of this year, BlackRock, the world’s largest exchange-traded fund (ETF), announced the establishment of a working group to assess the potential of investing in Bitcoin. This cross-industry working group is exploring a variety of investment options, but it is understood that Bitcoin futures will be put on the agenda. BlackRock’s move can be described as a huge opportunity for fear of missing cryptocurrencies.


In addition, Goldman Sachs Group is advancing into the cryptocurrency market. Goldman Sachs executive Rana Yared confirmed that the company intends to sell and buy bitcoin coin next month. On September 26, Goldman Sachs and Google raised $25 million for a bitcoin payment company. Several former executives of Goldman Sachs have also entered the cryptocurrency community.


These two factors are catalysts for the bitcoin price recovery in the next two months. It is expected that bitcoin prices will soar by the end of this year, just as at the end of 2017.

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