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Riccardo Spagni, better known by his pseudonym of "fluffypony" online, recently spoke about the current bear market and how the future of Bitcoin seems to have formed in his opinion. Spagni, who is also a major developer for Monero, recently spoke with Tech Central about the usability of Bitcoin and how it can change the way monetary transactions are performed in the near future.
Speaking about the prospects of recovery of Bitcoin and other very early currencies alt, Spagni said that the altcoin space is currently much more "compressed compared to the recovery time of the NASDAQ".
If this were not enough, he added that:
"It's a great time and the previous moves have been a lot faster, you know, some of them were two months, so you know, three and a half years has been like the longest bear market we've had and I think those periods will probably start to become longer and longer as you know how the thing that the movement changes ".
More on The Matter
While dealing with mining, Spagni continued to discuss the increasingly advantageous Bitcoin block premiums (a key factor that the conventional stock market should not take into account). According to Riccardo, the change in the overall Bitcoin offer is quite unique because no other sector has to face the proposal to face an evolving dynamic asset.
In this regard, he added:
"You have this reduction in supply and you know again, even if the question remains static you have people who are like," I'm not going to sell my coins, I'll keep them ", because of the hodl mentality. And if they cling to their coins and do not sell them, in practice this only reduces the actual supply even more. "
Stability will come to the "Bitcoin market" over the next 5 years
After his discussion on the usability of BTC as a means of transaction, Spagni continued to talk about the future of the alt-asset market. By the way, he said that while traders have begun to "fill" the gap that currently exists within the altcoin domain through "arbitrage", this booming sector will begin to witness greater general stability.
"I think there will be nothing good between 5 and 15 years of age.The price of Bitcoins is relatively stable or at least it does not have these wild oscillations like an adolescent who makes a tantrum. that Bitcoin functions as a currency than it is "
Later, Spagni made a bold announcement in which he clarified that in the next 10-15 years, people will be able to buy a cup of coffee with Bitcoin.
"But as a settlement option, I think it's very different, so you know that the agreement could be that I'm buying shares from abroad and I've imported and I need to pay my suppliers. suppliers do not care much about volatility because volatility tends to happen over a period of several days, so if you pay them and immediately convert from Bitcoin to the local currency of the fiat currency that the differences make Bitcoin a carrier for that one. settlement "
Final take
How Spagnis's actual predictions turn out to be the best hypothesis of anyone, however, if one thing is certain, it is that the mainstream adoption of BTC (as well as some of the other top 10 alternative currencies) is destined to continue to increase in the near future.
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