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After a festive break, Ran NeuNer, the founder of OnChain Capital and guest of the "Crypto Trader" segment of CNBC Africa, brought a number of important cryptographic investors, who did their best to predict where Bitcoin ( BTC) and this sector would then be directed.
Pomp expects a side price action for Bitcoin
Asked if the worst of the 2018/2019 bear season is over, Anthony "Pomp" Pompliano, founder of Morgan Creek Digital Assets and a former member of the Snapchat and Facebook growth staff, has noticed that Bitcoin probably does not have much to fall. This comment comes a few weeks after Pompliano took over BlockTV to state that there is a chance that BTC can re-test its lows of $ 3,150, before potentially falling even lower.
In the CNBC Africa segment, Pomp went on to add that while a fund is likely to come in, there is a low chance that BTC and other cryptocurrencies will take a drastic recovery in 2019. The decentralized, who was openly skeptical of banks , noted that instead of further decreasing, BTC could start trading in series, potentially between $ 2,500 and $ 4,500 for much of 2019.
Pomp's comments are interesting in a similar way to those promoted by Fred Wilson, a pro-crypto venture capitalist who co-founded Union Square. For previous Ethereum World News reports, Wilson, who has become a respected figure in Bitcoin, Silicon Valley and the world of traditional finance, believes the crypt will find a long-term support in 2019.
Wilson did not determine where cryptocurrencies would fall exactly, but he said that in the coming months, he expects a good deal of "bullish runs" and "sales pressure" influences to push cryptocurrencies to repeat their lows a year. After Bitcoin found a place to stay, Union Square's partner, presumably behind his company's investments in Coinbase and Polychain Capital, noted that he expects this industry to enter his next bullish season.
Tone Vays, a former institutional investor who became an irreducible Bitcoin, has recently re-echoed the idea that this market will find a long-term support in 2019, but has also been vague about precise timing and pricing.
Crypto Fundamentals still strong
When asked about the adoption, the Morgan Creek representative noted that all underlying fundamentals of Bitcoin are still going strong, echoing the sentiment touted by Jameson Lopp of the House. Pomp noted that this shows that "adoption has continued to increase in the bear market".
Supporting his comment, Pompliano explained that the hashrate has quadrupled (at the peak of 2018), while the transaction count has increased from month to month from March until now. And a collective value of $ 400 billion has been settled on the Bitcoin network throughout 2018.
He continued to draw attention to the Lightning network, which many believe could catalyze the global adoption of cryptocurrencies, in particular Bitcoin. Pomp noted that scaling is one of the fastest growing protocols for scalability and usability. Morgan Creek's crypto-bull in-house then noted that Lightning will be one of the great stories of 2019, along with the growth of a strong retail product and the arrival of institutional participation.
Image Title Courtesy of descryptive.com Via Flickr
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