Bitcoin is on the verge of his tenth birthday. In spite of the bear market, the commentators were optimistic about the future of Bitcoin & co. The freedom of speech to ECHO.
Soil formation by Bitcoin Mining
A lot of bids due soon crypto-the year is slowly coming to its end. The almost ten-year-old Bitcoin wacker holds the position, and seems to be slowly but surely to be outgrown adolescence; at least, he shows significantly less fickle than the beginning of the year. Also in the last week “moving” the BTC-rate solid of between 6,400 US $ 6,500-US-Dollar.
There’s more, Tom Lee, wall street Analyst and co-founder of the market research company Fund finds occurred. Lee is known for his unshakeable bullish attitude towards Bitcoin, and finds that the current bearish sentiment among the investors is not justified and is contrary to the result set. So he said to the YouTube channel, “Crypto Tips”:
“People are bearish. You are bearish, because it makes sense. You know that the market conditions were terrible and we [the price of Bitcoin] are below our 200-day average.“
So far, So contradictory. Lee takes a reference to an analysis of the Fund entered. This has revealed that the price of Bitcoin, if it is below its 200-day average, rising in the following six months, only 50 percent of the cases. Of course, however, is above this average, the opportunities for growth, according to the Fund was at 80 percent. Lee still remains a COP. He sees the Bitcoin floor is currently at $ 6,000 – the same as the current profit threshold (break-even Point) for the Mining of a BTC. By the end of 2018, this should be at 8,000 to 9,000 US dollars, and thus Lee’s well-known $ 20,000 forecast literally to prepare the ground.
Strong as a bear despite the bear market
Joseph Lubin draws an optimistic picture of the future of Bitcoin & co. Although the development of the total market capitalization of crypto-mediated currencies this year, a different impression, the Ethereum co-founder of the crypto market as “stronger than ever”. Lubin explains this initially strange in the end of the evaluation grace to CNBC:
“Digital currencies are not on the verge of collapse. We have seen in the last ten years, many Booms and busts in our Ecosystem, and our Ecosystem has never been stronger than it is today. I measure the number of projects, the number of people who were drawn in the room, entrepreneurs, developers. Its magnitude is larger than in the past, and the basic structure is built.“
Nigel Green, CEO of financial Advisory firm deVere, looks similar and makes a daring forecast. So a growth in the crypto market is expected in the second decade n. BTC (Bitcoin) by 5,000 percent. The Bitcoin’s dominance will decline,
“because with the increasing Mass adoption of crypto, more and more digital Assets are brought currencies on the market of organisations in the private and public sector. This will increase competition to Bitcoin, and its market share decrease.“
Green observed the start of a move away from Fiat currencies, which will accelerate in the next ten years. The future of money is crypto, the savvy slow also the “Central” actors:
“A growing number of large institutional and private investors as well as financial institutions and regulators know that crypto-currencies are the future of money.”
You will not see the crypto-market in the year 2028″,” Green safe.
Bitcoin praise from Steve Wozniak
Even Apple co-founder Steve Wozniak has paid tribute to last week, Bitcoin and the Blockchain technology respect. On the Crypto Invest Summit in Los Angeles, Wozniak drew the comparison with the early phase of the PCs. Bitcoin showing what can be achieved with the Blockchain technology:
“Oh my God, no control, nowhere to go. And it actually works. The people said in the early days of small computers: ‘This is nothing. No large company would invest in you.’ My company Hewlett Packard has rejected me five times.“
The numerous application possibilities of the Blockchain (and other) Distributed Ledger technologies fascinate Wozniak. However, will have to show which ideas can be realized. The “creature of habit”, man is another factor that will draw the mass adaptation in the length:
“Any Blockchain application, […] and I hear [makes me think] ‘Woah, this is so fascinating. Will it actually work?’ […] finally, it boils down to is that work, and we need to Bowling a Pin the other down. And it may take a while before it starts, because people can’t change their habits easily […]“
VISA soon on Comedy Central?
For those who, despite these generally positive projections are still in the bear market presses on the mood, finally, a little joke from the house of VISA. In an Interview with CNBC, VISA CEO Al Kelly crypto-currencies referred to as “no threat” to the business model of the company. This includes their use as a means of payment would have to grow significantly. If this is the case, whether the VISA is ready to be guided also in the direction of crypto-currencies. Kelly shows, similar to the competition from MasterCard, in the best case, a lack of understanding of the “principle of Bitcoin”:
“We want to be in the middle of it, […], in each payment stream in the world, regardless of how it happens or what is the currency behind it. If so, we need to get there, we will go there.“
A romantic utopia, the designs Kelly. A global, decentralized P2P financial system and VISA is the middleman, the need no longer.