2017 saw the year that Bitcoin broke out of the sidelines to become the number one financial story of the year. Now, many people are wondering if the premier cryptocurrency has risen too far too fast. One cryptocurrency analyst, Ian King, believes that this is not the beginning of the end. But the end of the beginning for Bitcoin.
In a recent article, Ian King notes that Bitcoin had risen about 1,500% during 2017. And that this was the year that cryptocurrency really dominated the financial news cycle. However, Ian King cites several factors that show Bitcoin is not in a bubble.
One of the first factors to Bitcoin’s continued growth will be easier trading. In the past, only a handful of people knew how to trade Bitcoin and there were few platforms which offered easy trading of the cryptocurrency. Today, there are more and more platforms and more liquidity in the cryptocurrency market.
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Secondly, Bitcoin is still in the early adaption phase. While more and more people are getting into Bitcoin, cryptocurrency is still a very small percentage of all transactions. As more and more people open cryptocurrency wallets, the value of Bitcoin, as well as other cryptocurrencies, will continue to rise.
Next, Mr. King sees Bitcoin as an opportunity for everyone to get an equal share of this particular bull market’s return according to iankingguru.com. The analyst pointed out that very few people outside of Silicon Valley and Wall Street got rich from the booms in Uber and Facebook. Bitcoin and cryptocurrencies, however, are not a centralized. Mr. King points out that anyone can get on the ground floor of a new cryptocurrency and gain enormous benefits.
Finally, Ian King sees institutional money coming into Bitcoin in 2018. That means the price of the cryptocurrency could skyrocket when pension funds, hedge funds, and other money managers begin to add Bitcoin to their portfolio.
Ian King has over two decades of experience in the trading and financial markets. As one of the premier cryptocurrency traders, Mr. King has unique insight into the world of Bitcoin as well as other cryptocurrencies and altcoins according to talkmarkets.com. Mr. King began his career at Solomon Brothers, working in the mortgage bond trading department. Afterwards, Mr. King became the head trader at Peahi Capital.
Today, Ian King is a contributor to Banyan Hill publishing as the resident cryptocurrency expert. Currently, Mr. Ian is developing a cryptocurrency trading course as well as a trading service which will be made available later this year.
Search more about Ian King: https://www.tumblr.com/blog/iankingguru