Andy Chung, Chief Operating Officer of the OKEx cryptocurrency exchange, confirmed his forecast for a new absolute record of the Bitcoin rate as early as 2019. The corresponding forecast was made back in 2018, now Chung notes that all the necessary conditions for growth are almost created.
“$ 20,000 is a conservative forecast for the price of Bitcoin in 2019, as I said last year. The rally at this stage is not complete, because more and more institutional investors are coming to the market, and the effect of the reduction in the mining award in 2020 supports the mood of the players. We are very happy to see such a bullish trend, and I look forward to a new high. Bitcoin is not just a coin, it is the spirit of a cryptoindustry, ”he said.
Previously, there was an opinion that the BTC exchange rate of $ 11,700 is significant for the market. According to some analysts, only passing this mark will signal the beginning of a real bull market and open up the opportunity for growth, right up to the historical maximum.