Bitcoin About To Enter Next Bull Cycle

Bitcoin price development in first week of May 2019

The crypto market is on its way to a new bull cycle. A recent Fidelity Investments survey showed that 47% of institutional investors are interested in cryptoassets. In the first week of May 2019, the price of the crypto lead currency Bitcoin (BTC) experienced an impressive hike from $5,300 to $5,800 after a few weeks with sideways movement. This is an increase of more than 9% and a clear signal to the bears – the crypto winter is coming to an end.

Bitcoin’s market capitalization is currently moving back above $100 billion and has thus also crossed an important mark. At the moment all signs are green that we see the beginning of a new bull cycle towards the end of 2Q19 or beginning of 3Q19. An important milestone for this would be the approval of a crypto-ETF by the U.S. SEC. Crypto ETFs would not only make it easier for institutional investors to access crypto assets.