Quione CEO, Mike Kayamori has decided to go the way of bitcoin bulls and has predicted that Bitcoin would either reach or surpass its all-time high price of $19,783.06 reached on December 17 last year in the highly bullish cryptocurrency market.
Kayamori Contradicts Tom Lee’s Bitcoin Prediction
The CEO stated in an interview with Bloomberg that the time required for Bitcoin to reach those prices would not be guessable, but he ascertained that the price would still, however, get to or surpass its all-time high by the end of the next year. He also said that bitcoin price is surely bottoming out and couldn’t go any lower, but the general price level wouldn’t rise until the end of 2018.
His prediction is in direct contradiction with Tom Lee’s prediction of bitcoin hitting a price of $15,000 by the end of the year. Tom Lee’s BTC prediction is looking impossible with each passing day in December as prices continue to oscillate between $3,900 and $4800 and no price reversal seems to be looming despite a series of good news in the blockchain and cryptocurrency world.
Job demands for people with blockchain skills are growing, governments are accepting cryptocurrency as a form of payment, and several other positive news for the crypto market do not mirror its current performance in the crypto market. Tom Lee’s bullish prediction was partly based on the release of Bakkt which was anticipated to infinitely raise cryptocurrency prices, but the release of the ICE backed cryptocurrency was shifted forward to January next year.
Kayamori stated while connecting the growing compliance with the entry of established investments into the bitcoin world that;
“Japanese regulators are starting to open up again. They are going to approve new exchanges. They are going to approve new listings. All of these things will start from the New Year. The global trend is to accommodate these high-frequency traders.”
He also added that brokers would offer digital currency to retail clients and Over the Counter brokers would also provide services to investors.
Price Information on Bitcoin’s Bloody Market
Bitcoin has lost a lot of its market capitalization amounting to up to 37%. Since the dip in prices investors have banked on prices not dropping past what they are now, but the market has been resistant towards allowing the prices hit an encouraging high to create a price reversal. Bitcoin technical analysis has shown that bitcoin bears can drive the price below $3,500. In the interview with the CEO, discussions were made on bitcoin miners pulling of mining due to losses incurred. Kayamori stated that the more miners leave bitcoin mining, the better for the market.
A report by A.T. Kearney states that Bitcoin could make gains in 2019 as ‘shitcoins’ lose value and get out of the market. They also noted that the new regulations on ICOs would give projects a hard time to get funding, allowing for enthusiastic cryptocurrency investors facing original cryptocurrencies. The talk of increased interest rates for cryptocurrency by the U.S. central bank, the Federal Reserve has also halted future crypto investors. Once investors can determine there will be no rise in interest rates, they could start investing back into the market.