The situation in the cryptocurrency market has improved significantly in 2019. Bitcoin rises in price over the past five months. The interest of retail investors continues to grow. Delphi Digital analysts stated about this. The company published a report that examined the situation in the digital money industry.
Experts called among the positive factors is the increase in the number of search queries on Google on the topic of cryptocurrency. Another factor is the high cost of a cryptocurrency investment-trust company Grayscale (GBTC). In addition, specialists stressed that institutional investors are actively entering the cryptocurrency market. They saw its growth potential compared to traditional asset classes. Delphi Digital analysts stressed:
The GBTC overpayment has been rising since the sale in the fourth quarter of 2018. This indicates a return of enthusiasm among retail investors after a severe price cut last year. Institutional demand for GBTC is also growing. About 75% of Bitcoin trust capital in 2019 came from institutional investors.
The company didn’t make predictions on the rate of the first cryptocurrency. At the same time, analysts recalled that July has historically been a successful year for Bitcoin. The price has always risen by 10% this month.