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The CEO of Circle, Jeremy Allaire, said he believed that the core assets of cryptocurrency are underestimated, as the price of Bitcoin is close to $ 3500.
Allaire: "The markets are oversold"
In a session & # 39; Ask Me Anything & # 39; of Reddit on January 10th, Allaire, whose company is notoriously distanced from Bitcoin in 2016, also expects less correlated trading in the high-end markets.
"My general perception is that the markets have been oversold and that some major assets have dissociated from their use, which suggests they are undervalued," he wrote.
… We also believe that many activities have been exchanged in close correlation with BTC, which is irrational. As markets mature, we expect less correlated trading as investors better understand value, utility and the adoption of specific cryptographic resources and networks.
Bitcoin price 00 he had taken two hits down Thursday, rising from $ 4050 to current levels below $ 3700.
2019: high or low for the bitcoin price?
The views on the future of the largest cryptocurrency are mixed, with some well-known data providing for lower lows in 2019 and others that anticipate the new historical highs instead.
This week, the civic CEO Vinny Lingham has joined the first camp, telling Cheddar that BTC / USD was in "one or two months" of side trading before making a move up or down. The first, he warned, could see the pair fall below $ 3000.
Such as Bitcoinist Meanwhile, the Tone Vays trading guru warned that the price of Bitcoin could only challenge $ 1000.
At the same time, the Japanese Quoine Exchange CEO Mike Kayamori told the mainstream media that he believes that the new historical highs of Bitcoin will come "by the end of this year".
For Allaire, the optimism derives from the technical prowess of the Bitcoin network.
"We consider things like hashrate health, chain activity, as key indicators of use and adoption and underlying unit economic support," he said.
The new optimism of Circle on Bitcoin has not gone unnoticed among commentators, who thwarted with the fulcrum of the company two years ago.
What do you think of Jeremy Allaire's comments? Let us know in the comments below!
Images courtesy of Shutterstock, Getty Images
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