Quarter 2 of 2021 is over, during the start of the 2nd quarter( 1 April), BTC was trading at 58,987$, which is far more than what we have at the end i.e. $39,709.
When we analyze this with the altcoins, King Bitcoin did pretty well, Ethereum was $1919, which currently is trading at 2321$.
When we go through the views of industry figures, it seems we’ll have positive news ahead.
Ryan Moore, the Ceo of Bitcoin Banking App Mode said:
What we’re starting to see is the inevitable, and necessary, meeting of global regulators with industry players. This will only continue as investor interest builds, which is happening fast. The incumbents need to show that they’re being responsible and prioritizing consumer protections, and so do we.
Yes, there have been price fluctuations, but without a doubt, I’m still bullish on bitcoin. Bitcoin has proved its position as a store of value, and this will only be entrenched by Millennial and Gen Z investors. Its scarcity, durability and security means that, by both fiat and cryptocurrency standards, it has long-term utility and value. A few years ago Bitcoin was compared to the internet in the early ‘90s. This comparison still stands; the internet became ubiquitous and Bitcoin will too.
Engaging with regulation doesn’t preclude innovation or disruption. In fact, this will enable the industry to grow. An increase in security and transparency goes hand in hand with an increase in investor confidence – both institutional and retail. We’re seeing investors seek out this assurance more and more. Ultimately, the added scrutiny we’ve seen in recent months is good for crypto.
Richard Byworth, CEO of crypto financial services company EQONEX said:
We remain bullish for the remainder of the year. The mining crackdown in China has impacted the price heavily as miners migrate and hash power has dropped, but longer-term, this is bullish and will make Bitcoin more resilient. We are still forecasting BTC to be around $175,000 at the peak of the current cycle into 2022.
The regulatory scrutiny of the industry at present will also lead to longer-term frameworks being put in place and regulatory-focused players like ourselves providing on-ramps for institutions. Our road map for the rest of the year is focused on derivative product rollout, a core requirement for the majority of institutions that will lead to reduced volatility and even further adoption.
Steve Ehrlich, CEO of digital-asset broker Voyager Digital said:
After a period of trading in a range, I believe that bitcoin and crypto will increase substantially by year-end. My price prediction is that bitcoin will approach $100,000 by Dec. 31, 2021. The continued adoption of cryptocurrency will continue to accelerate through the year.
Peter Wall, CEO of bitcoin mining firm Argo Blockchain said :
I don’t get worried about short-term fluctuations in the bitcoin price. As a company, we’re thinking longer term – in quarters and years, not days and weeks. If you look back and consider the trends we’ve seen over the last six to 12 months, and especially over the last five to 10 years, the digital-asset ecosystem is clearly moving in one direction. We believe it’s still early days, and the digital-asset ecosystem will continue to disrupt traditional players and is the future of money and finance. The narrative over the last six to 12 months has been of large-scale institutions adopting positions in cryptocurrencies, and while we have seen companies such as MicroStrategy, PayPal and Tesla do so, there will be many more to come.
I think it is easy to forget that large institutions are like aircraft carriers, and to change their direction takes a huge amount of effort, and most importantly, a significant amount of time. We believe that these adjustments are underway, and the industry will feel the full effect of these changes in the coming months and years.
Frank Schuil, CEO of crypto exchange Safello said :
China’s clampdown on mining has been priced in and the road ahead is bright. It opens up the market for other geographies to flourish. Miners will move to regulatory environments that are more favorable to crypto with less competition from a historically dominant China. On the regulatory side itself, things look better than ever, at least in Europe. The ability for crypto companies to passport their registrations once MiCA is introduced will accelerate competitiveness and adoption.