According to a new study by Chainalysis, the Bitcoin price will have the highest growth rate compared to the 500 largest US stock exchange companies.
The US blockchain analysis company has asked 350 financial experts how they see the development of Bitcoin, Ripple, Ethereum & Co. in the coming year. According to the results, financial companies are still critical of crypto currencies. However, this is mainly due to regulatory concerns – after all, the legal situation surrounding Bitcoin & Co. remains unclear in many parts of the world.
Bitcoin course to slow down other assets
Almost half of the respondents (48 percent) predict that the crypto currency number one will grow rapidly. They see Bitcoin’s share price outperforming Standards & Poor’s 500 (S&P 500), the stock index that includes the shares of 500 of the largest US listed companies, next year.
From the latter, 33.2 percent expect the largest growth. A relatively small proportion (12.7 percent) see the Bloomberg Barclays Bond Index, the so-called bond market, as having the greatest future ahead of it. The House Pricing Index, for which 5.5 percent of the study participants forecast the largest annual increase, comes last. Nevertheless, the participants in the study identify some growth inhibitors that are still slowing down the Bitcoin market.
Whether it’s manipulation of the Bitcoin price or a lack of regulation, the crypto market is too insecure for many potential investors.
For example, 39 percent of financial experts still see a lack of control over illegal activities by Bitcoin & Co. as an obstacle to doing more business with crypto currencies. A further 17.9 percent do not see themselves in a position to comply with the legal regulations. Meanwhile, just under a quarter do not consider the opportunities in the market to be large enough, 17.9 percent complain of a lack of support from managers.
In short, many companies are not yet ready for Bitcoin & Co.
Bitcoin course and adaptation
The mantra should be known in the crypto community: For a rising Bitcoin price with subsequent moon journey it needs above all the spreading and use by a broader public. The frequently quoted mass adaptation is also seen by the majority of survey participants as the biggest factor in dealing with Bitcoin & Co. more. Accordingly, 43.9 percent of respondents identified an increasing customer demand as a necessary basis for including crypto currencies more in the business. 19.9 percent of respondents stated that they could position themselves as pioneers as the most important adaptation drivers in the business field. 17.9 percent rely on the option of using Bitcoin & Co. to earn money. A further 19.9 percent see the possibility of positioning their own company as forward-looking as the main factor.
In other words, almost 30 percent see the possibility that if there should be a digital global currency, it will be under decentralized control. If that were to be Bitcoin, the Bitcoin exchange rate could also climb to undreamt-of heights. How likely that is is another question.
Bitcoin course prospects
So far, so bullish. Many financial experts see the possibility that the Bitcoin price will overshadow other assets in the next 12 months as high. But who are these experts?
A look at the details of the study reveals: Chainalysis interviewed the 350 participants of the 19th ACAMS Annual AML & Financial Crime Conference in Las Vegas – a conference that raises questions about financial crime. These are made up of bank representatives, credit institutions, financial institutions and regulatory authorities. It should be noted here that this is a selected group of respondents. It is therefore at best an opinion poll rather than a scientific study.
Nevertheless, the Chainalysis study fits into the current market sentiment. Possible Bitcoin course drivers such as the upcoming crypto integration of the coffee giant Starbucks or China’s ongoing blockchain efforts in the course of the digital arms race speak a bullish language.
According to the Crypto Fear & Greed Index, general market sentiment has also improved. Investor sentiment is currently neutral.