[ad_1]
Chief of Quoine: Nobody knows where the Bitcoin fund is
Even after Bitcoin (BTC) released a dismal performance in November, presumably the worst month of the resource since April 2011, the closest believers in this nascent asset class have maintained their zealous faith. Tom Lee, for example, recently told CoinTelegraph that Bitcoin, Ethereum (ETH) and XRP all have "power", before adding that he expects a "very good" year for BTC in 2019. And, curiously, Lee is not the only one to solicit this feeling.
After recently interviewed Roger Ver, the CEO of Bitcoin.com, Bloomberg interviewed a cryptic industry CEO, Mike Kayamori, to get more information on the tumultuous market of encrypted. He again mentioned the sad performance of BTC for the first time, asking the industry if this is the long-awaited "encryption market".
Kayamori, who heads Quoine, a "fintech leader" focused on the blockchain, noted that while $ 4,000 were THE technical background, BTC obviously fell through with no holds barred. Echoing Ver's thought process that the cryptocurrency market is unpredictable, Quoine's boss noted that when we get to the heart of the matter, like a fund prediction, "nobody knows".
"That said," he continued, "when you look historic [trends] and how things are going [now]I think the bottom is close. "Kayamori's comments on a fund are an interesting reminder of those made by Ronnie Moas, director of Standpoint Research, and ThinkMarkets chief analyst Naeem Aslam.
This last one recently mentioned said about it:
Whenever there is a [market] panic about this [size]It is almost certain that we are approaching a fund … So we are very close to finding that Bitcoin fund, wherever that fund is found … Now it is the point where you start preparing to be able to participate [in crypto].
Kayamori, talking about why he believes the BTC fund is looming, has drawn attention to the rapidly falling hashrate of the Bitcoin Network, noting that the miners who capitulate indicate that the & # 39; & # 39; balance & # 39; profitability is close. He added that markets, led by emotional traders, often overwrite corrections and corrections, with cryptography supposedly not being different.
Kayamori expects the new high-level Bitcoin from EOY 2019
Affected by his comment, Bloomberg's television host asked the Quoine CEO to know where he expects prices to proceed in the near future. Kayamori, who evidently has a special interest in the strong performance of cryptocurrencies, said at the outlet that he originally expected that the bitcoin would recover by the end of 2018, but then noticed that this will not happen.
However, he went on to say that when 2019 starts to run at full capacity, with the arrival of Bakkt, Fidelity Digital Asset Services, along with a multitude of other investor-focused retail and institutional products, BTC could begin to move drastically. on "new momentum and feeling."
Explaining why this might be the case, he drew attention to the local Japanese market, noting that local regulators, including self-regulating JVCEA, started opening up the market to new players, adding that new activity cards could help to push the market movements.
Concluding his interview, which has painted a bullish picture for the cryptocurrency market, Kayamori noted that by the end of 2019, the bitcoin "probably" will exceed its all-time high of $ 20,000.
At the time of writing, BTC found itself at $ 3,755, down 4.0% in the last 24 hours after weeks of tumultuous and chaotic price action.
Image courtesy of Icons8 Team Via Unsplash
Source link
