#Bitcoin in 2019: Analysts See Institutional Investors Wading into Crypto
The bitcoin price got hammered in 2018 amid the prolonged Crypto Winter, but many investment experts expect the volatility to subside in 2019, as institutional investors start entering the market.
Some analysts believe bitcoin will re-emerge — like the proverbial Phoenix rising from the ashes — on back of momentum created by institutional investors, the Australian Financial Review reported. “During the coming year we will see a gradual adoption from institutions,” said Henrik Andersson, chief investment officer of Apollo Capital Fund in Australia. “We have the first US university endowments investing in funds.” Over the summer, the multi-billion-dollar endowments of Harvard, Yale, and Stanford stunned Wall Street after revealing that they had invested in cryptocurrencies.Because of the herd mentality of institutions, analysts say the move will likely trigger a chain reaction among other institutional investors, such as pension funds.“The fact that David Swensen [Yale’s chief investment officer] put an investment into bitcoin — with his reputation on the line, his endowment on the line — tells you something,” Novogratz said. “Some of the smartest people in the investing world think it’s a store of value.”
Bitcoin (BTC) is down 1.89% over the past 24 hours and is currently trading at $3,796.47 on Coinbase. BTC dominance is at 51.9% and the total cryptocurrency market cap is currently at $127.7 Billion.
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