Future of Bitcoin in 2019 according to Nasdaq
The Nasdaq is one of the largest stock exchanges in the world. Of course we are interested in their opinion about Bitcoin (BTC) in particular and crypto coins in general. Recently they shed light on the trends that determine the future of Bitcoin in 2019. We would like to put them in a row for you.
Approval of Bitcoin ETF by the SEC
Previous attempts to get permission from the American stock market watchdog did not work out. The last negative decision was, however, recalled by the SEC itself for reassessment. The new judgment is expected to fall on 27 February 2019. Approval of the first Bitcoin ETF in America will have a strong positive impact on the prices of cryptocurrencies and accelerate the entry of institutional investors.
Goldman Sachs has started conducting research in blockchain
One of the largest investment banks, Goldman Sachs, used to be rather conservative in its views on Bitcoin and Blockchain. Meanwhile, that picture seems to be changing. According to their website, they have now embraced Blockchain. The expectation is that in 2019 we will see more of Goldman Sachs and their role on the future of Bitcoin in 2019.
India legalises the trade in cryptocurrency
The (in size) third economy of Asia does not do anything with cryptocurrency at the moment as this is forbidden by the authorities. After the Supreme Court upheld this prohibition in the summer of 2018, two committees went to work. They seem to favor legalization under strict conditions. The last committee expects to send its findings to the Ministry of Finance in February of this year. If it indeed decides to legalize cryptocurrencies again, a large group of traders will be able to join the market again. This naturally leads to more demand, more trade and favorable prices.
In this video you see an introduction of the Nasdaq and its role for investors. (Text continues under the video)
The introduction of crypto exchange Bakkt
Crypto exchange Bakkt is seen as the link between the current market and mass adoption. Not least because all sorts of large parties such as Starbucks are cooperating with this initiative to launch it broadly. In addition, they offer a number of financial instruments that are new to cryptocurrency and are also interesting for institutional investors. After an initial opening on 24 January, the opening was postponed, partly due to the shut-down of the American government. This important step could also be taken in February 2019.
Ethereum Constantinople Hard Fork
After the Constantinople hard fork Ethereum (ETH) will experience on February 16, the largest platform for dApps and smart contracts developed on the Blockchain is ready for the future. Mining with the mixed form of Proof of Work and Proof of Stake is a lot easier. The security, functionality and scalability of the network is also improved. Because of these improved facilities, developers will be more inclined to develop new initiatives.