Friday, July 10, 2020

Crypto Experts Predicts The Direction Of Bitcoin and Other Cryptocurrencies In 2019

Nine experts in an interview with CNBC gave their 2019 cryptocurrency predictions and what each of them believes on cryptocurrencies for the near future. Despite Bitcoin’s recent bearish price trend, their stance is that something big will happen a few years from now. These are the opinion of Thomas Lee, Mohammed Elrain, Mark Yusko among others.

Thomas Lee: Bitcoin Will Remain Relevant

Thomas Lee, Fundstrat Global Advisors Managing Partner on November 20 said Bitcoin would remain relevant and the next stage of adoption will include institutional funding. He adds that there are 50 million crypto wallets in comparison with 5 billion visa cards and as such, digital assets will be massively adopted in the future. The CEO also revealed that currently, Bitcoin is used to move funds more than Paypal.

Mohammed Elrain: Bitcoin is at its Flaw Stage

Mohammed Elrain, Alliaz Chief Economic Advisor on November 28 said Bitcoin had exhibited a pattern common to most innovative technologies. These technologies often come in stages which are massive consumption, speculation, and then the flaws. Bitcoin, in this case, is at the flaw juncture where everyone wants to find a technical fault with it.

Mark Yusko: Bitcoin Will Have a Great Run Within a Decade

Mark Yusko, Morgan Creek’s CEO on December 7 outlined that you should put your money where your mouth is. The CEO has stirred up a competition between the Stocks market and that of Cryptocurrency. Specifically, he believes that Bitcoin will definitely have a great return ten years from now.

Brian Kelly: Everything That Is Wrong With Bitcoin Will Get Fixed

Brian Kelly, BKCM LLC CEO on December 17 said whatever is wrong with Bitcoin today, will get fixed. He went ahead to make comparisons with the Internet and Online Shopping. The similarity is that during their inception, a lot of people did not want to have anything to do with it. But later on, this was no longer the case since their adoption rate skyrocketed.

Spencer Bogart: Bitcoin’s Fundamental Has Remained the Same

Spencer Bogart, Blockchain Capital’s Partner on December 17 noted that Bitcoin’s fundamentals have not changed. What has been in the past, is still the same bull market that goes high and bear market that goes low which is unique. He also says the digital asset is gaining more and more institutionalisation. This could be said about institutions like Yale, Harvard, and Nasdaq who have all entered the crypto space.

Others like Asiff Hirji, Coinbase’s CEO predict that 2019 will be a good year for cryptocurrencies. Anthony Pompliano, Morgan Creek Founder reminds that the longer the Bitcoin, the shorter the Banker. The CEO had predicted that Bitcoin would hit lower than $3,000 and then be on its way up from there.

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