The Altcoins will not return, Bitcoin will reign
Recently, CoinTelegraph sat down with Tone Vays, a former tradesman of traditional markets turned into irreducible Bitcoin (BTC), to talk about what happened to the cryptosphere in 2018 and what he expects will occur in 2019. Interestingly, in contrast the bearish sentiment has touted in recent months, the analyst said that BTC could work well in 2019.
Vays, when asked what "the most important event of 2018" by Crypto was, drew attention to the decline in the price of Bitcoin and, more importantly, to the related collapse in most of the resources cryptographic (altcoin). The trader, former J.P. Morgan explained that the bearish market in 2018 is "significantly different from what happened in 2014 or 2015".
The creator of the content has noticed that this time, "the bubble altcoin will not return", adding that it does not expect alternative cryptographic resources to undergo a rebirth. Vays hinted that the industry has already indicated that overcoin will not return, as evidenced by the Bitcoin Cash debacle (which called it an "implosion"), and other minor events that have accentuated irrelevance of these coins.
While some bash Vays for this belief, it has only recently doubled this anti-altcoin sentiment. Vays claimed that Ethereum (ETH) could fall to $ 0.2, just out of fear of the original price set by its symbolic offering.
Jimmy Song, an important educator, commentator and developer of Bitcoin, echoed the point of Vays, explaining that many "lousy projects (altcoin)" are in the middle of their state of agony and will eventually be wiped out by this ecosystem. Song, explaining why this industry event is significant, noted that there was a "lot of malinvestment in this space", making the removal of positive fluff / worthless projects for good faith investment opportunities.
Returning to his defense for the top cryptocurrency, Song explained that the tenth anniversary of Bitcoin accentuates the possibility of relying on a project that is two or three years old. This was probably said in reference to his skepticism about Ethereum.
Bitcoin will probably reverse in 2019, says Vays
Explaining his vision of the cryptocurrency industry in 2019, Vays noted that consumers will begin to realize that Bitcoin is not dead, nor is it expected to die. Vays noted that the awareness that BTC could reverse in 2019 could also begin to appear on traders, adding that he personally believes that an inversion will occur in the second half of 2019, rather than at the beginning.
Doubling his skepticism about projects that do not involve OG Bitcoin, the longtime lawyer has noted that 2019 will be the moment when Bitcoin will begin to "separate itself from the rest of the cryptographic space". He has declared:
The 2019 marking will mark the end of the Bitcoin bear market and the start of the next bull market. This time, with side chains, downsizing, privacy, and I do not see the hour [for it].
In closing, the main investor joked that if the potential "HODLer" of Bitcoin are trying to allocate capital in a long-term position, the "best time to buy is always yesterday.
Title Image Courtesy of Hektor Ehring Jeppesen via Flickr and Bitcongress