October 29, 2020

CEX.IO company blog | What's happening with Bitcoin and other cryptocurrencies now?

Comments by Alexander Yanyuk, finance expert at CEX.IO Broker

Today, cryptocurrencies are fully entered the investment portfolios of market participantsand are viewed by them as an effective tool for diversifying risks and increasing revenues. Traditional investors who are inclined towards conservative types of strategies such as “buy and hold” prefer to dilute their investments in financial markets by buying bitcoin. This is due to the fact that bitcoin during its existence was able to prove not only to advanced market participants, but also to the states of its superiority and reliability. Therefore, when the world central banks decided to stimulate the economy, investors began to invest "helicopter money", including in digital assets. Moreover, many investment houses already offer their clients to diversify their assets with cryptocurrencies, giving the latter 4-5% in the portfolio. The prospects for digital assets are obvious - a high level of income, and if we are talking about bitcoin, then this is also a certain reliability.

BTC growth potential, according to our estimates, until the endyear is $ 15,000 per coin, while at the moment the cost of bitcoin is near the $ 11,000 mark. Note that in addition to bitcoin, there are also such high-quality assets as ethereum on the cryptocurrency market, which are attracting more and more attention from for restarting the network. The developers of the Ethereum network plan to switch to the Proof-of-Stake algorithm by the end of this year, and some analysts in this regard predict the growth of ETH / USD quotes to $ 1,400. However, we adhere to a more conservative scenario - the growth of the asset to $ 600. Nevertheless, even this growth will be about 60% to the current price of $ 380.

Read the full material here.

On the CEX.IO Broker platform, you can trade both Bitcoin and Ethereum, as well as a number of other assets. Come to us and trade as you like.

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