It’s Time to Wait Patiently
The founder of the Elevated District Media, Nye said that now was the time for people, who are cryptocurrency enthusiasts, all over the world to show patience. He said so as bitcoin dropped down to a very low and had not been performing like it did in the past. Bitcoin has fallen to such an extent that people have lost most of their funds at the present and have broken hopes for the future.
Bitcoin will Drop Further
Thomas Power, a board member at Blockchain Industry Compliance and Regulation Association (BICRA), predicted that the very low of the bitcoin these days is not the final bottom for this year. He explained that bitcoin will be dropping further down to about $2,500. He explained that low hashrates were favorable for the big miners as they could merge and consolidate their capital.
Bitcoin will Surpass its value
Mike Kayamor, the CEO of Quoine, stated that people who claimed that $4,000 was the lowest price for bitcoin for this year are wrong. He further added that bitcoin will be surpassing its all-time best in the upcoming year. Regarding overall crypto market, he explained that as there is no catalyst expected before the next year, the crypto market will not be restored soon.
Bitcoin is Better than Banks
Anthony Pompliano, the founder and partner of Morgan Creek Digital, claimed that there were many differences between banking systems and cryptocurrency. Banks are only available for specific days of the week for specific time whereas cryptocurrency is always available to its users. In this way, Anthony regarded bitcoin superior to the banking system.
Bitcoin was Victimized by Devaluation
Bitcoin has been facing devaluation for a quite long time. The king has been hindered to reach the all-time highest and no analyst or enthusiasts could predict the future of the crypto world. Joseph Young highlighted the trend for bitcoin rising in the history by stating that after 67 weeks, bitcoin rises up. He stated that in this manner, bitcoin will be rising in the second quarter of 2019.
