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Bitcoin the author and financial author Michael Casey, recently spoke with a media outlet on the current state of the crypto industry, as well as on a number of other topics related to the future of blockchain technology and the power of payment protocols alt- currency.
Starting from the interview, the journalist asked Casey whether the global investor community was the cause of the recent market bloodbath. In response, he promptly noted that investors were not mistaken, rather the valuation models that were promoted on the Internet (in relation to cryptographic assets like Bitcoin, Ethereum) inherently "imperfect".
To further deepen his point, Casey went on to say that cryptocurrencies and other similar technologies were initially viewed as a path to curb the power possessed by centralized entities. However, now the scene has changed a lot and the way we attribute value to blockchain-based resources has become similar to the way we evaluate conventional stock options.
Finally, he also said that the cryptography market in general seems to be currently focused on a successful exit to Fiat, rather than maintaining its sovereignty and central identity. This, according to Casey, is due to the lack of incentives, since most investors only seek to gain profits from digital assets rather than treating them as long-term financial alternatives.
What does the future look like for Bitcoin?
Although Casey has not directly addressed the issue of evaluating the future cryptocurrency, he said that the use of evaluation parameters such as "Network Value" can be useful for judging the future of this nascent industry. To further explore the concept of "network value", we can see that the technique helps analysts calculate the "real value" of an altcoin by considering a wide range of niche details about the currency.
Also, last week, the top-founder of Fundstrat, Tom Lee, told his main clientele that BTC seems to be in good shape and that it will soon approach the region from $ 13,800- $ 14,800. And while Lee immediately faced a barrage of criticism for this call, even his optimistic view seems to be shared by Anthony Pompliano – he also believes that BTC is coming up.
Elaborating his position, Pomp, a former employee of Facebook, said that when everything was said and done "Bitcoin still remains the safest transaction protocol in the world".
Final take
In closing this piece, it is worth pointing out that in the recent past many famous cryptographers have stated that due to factors such as counting growing transactions, commissions for declining transactions appear to be as if Bitcoin It is destined to rise again.
Last but not least, a couple of months ago, the co-founder of Eth, Joe Lubin, told a major media that, although many digital currencies seem to quickly lose value right now, the fundamentals of the industry they are "booming" in a fairly visible way.
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