Mike Kayamor, the CEO of Quoine, founded the company back in 2014 with Mario Gomez-Lozada, who is now the president and CPO of Quoine. Recently, Mike expressed his take on the world of cryptocurrency and its future. While stating that many experts were wrong to declare $4,000 as the bitcoin bottom, he predicted that the bottom was very near. According to Mike, bitcoin will be outclassing its previous high of all-time by the end of next year, 2019.
Brendan Foster, who is the head of Growth Ops at Dharma Labs Inc., talked to BlockPublisher to share his perspective on cryptocurrencies. Upon inquiring that what was a better option for people, bitcoin or stablecoins, Brendan stated:
I think blockchain based assets are interesting, both across stablecoins and bitcoin.
Mike had also addressed the problems faced by the bitcoin miners due to the extremely low price of bitcoin. He acknowledged the fact that many miners were closing down as $4,000 bitcoin price was a break-even point for most of the miners. He explained that the economy works when miners go out of business. Furthermore, he credited the same reason to predict that equilibrium is near.
Mark claimed that he doesn’t expect any restoration of crypto before the beginning of the new year. He said so because he can’t sense either anything new or a catalyst in near future. However, he does expect new catalysts in the upcoming year that will help the crypto market. According to him, Japanese regulators were now willing to take steps such as approving new crypto exchanges and listings in order to ease the crypto practices.
Moreover, Mark told that licensed exchanges located in Japan will be receiving improvement letters from the government, security etc. to protect end retail customer. He notified that Japan is the world’s first country who initiated the regulation of the crypto and it will be the first one to put legislation to the Security Token Offering (STO). Mike said that with new practices and planning, next year will be a completely new beginning for the country.