CRYPTO USERS/INVESTORS SHOULD EXPECT A POSSIBLE CRYPTO PRICE BOOM
Bitcoin and other crypto users/investors might just start singing songs of joy soon with the way events are unfolding. According to expert, there is likely to be a BOOM in the price of crypto in the last quarter of the year. Events leading to this possible rise in bitcoin and other crypto price are as follows.
According to a news that feature in the news.bitcoin website, research paper work have shown that bitcoin is complaint with the Shariah Law. Now if this is true, it means that the Islamic population of about 1.8 billion people will now be able to buy bitcoin and invest in other crypto.
Since bitcoin is declared halal and holy by this research paper for Islamic community, imagine how the price will bounce when/if Saudi Arabia, Qatar and Abhudhabi sends their funds into the crypto markets. No doubt if this happens there will surely be a Boom in bitcoin price and that of other crypto.
Don’t forget that sometime last year, the Islamic body of Turkey declares bitcoin and other crypto as unfit for investment due to its anonymity. You can read about that news HERE.
2. MAJOR INSTITUTIONAL MONEY TO BE USE IN BITCOIN INVESTMENT
The second event that might lead to a boom in bitcoin price in the last quarter of the year is what was twitted by Warren Buffett where he stated that major institutional money will be used in bitcoin and other crypto investment. According to the tweet he said:
If you thought last year was crazy year for bitcoin and other cryptos…just wait…those were just mom and pop investors. Major institutonal money will be involved from now on. -Warren B
If truly major institution decides to make use of bitcoin and other crypto for its major operations, then there will be more money and attention thrown on crypto and this will eventually lead to a BOOM in bitcoin price and that of other crypto.
Will this eventually come true as bitcoin and other crypto have been relatively struggling with more countries declaring it illegal. We’ll see what eventually happens in the last quarter of the year. Till then, you can subscribe to our newsletter and be getting latest news updates. Follow us on twitter and instagram @mntrendsblog. Like our Facebook Page “Mntrends Blog”.