Operating officer Australian cryptocurrency exchange Blockbid David Supper (David Sapper) believes that the hype surrounding bitcoin and other cryptocurrencies, is just beginning.
Many people rightly point out that bitcoin is experiencing not the best times – for the last 7 months it fell by 70%. In this Supper I am sure that the excitement around cryptocurrencies is not even close to the degree of fever.
“I think that the hype has barely begun. Only 1% of the world population owns a bitcoin and follow the news of banks and financial institutions that are considering the introduction of blockchain technology and cryptocurrency investments. I think that in the next 18-24 months cryptocurrencies will get wider distribution,” he said.
Supper pointed out that even small market movements can cause severe price spikes bitcoin and other digital currencies in both directions. This suggests that future catalysts can bring about the high boom in the market.
“Bitcoin and cryptocurrencies in General have become sensitive to changes in the market, and after the news of the lifting of the ban on advertising in the Facebook of cryptocurrencies on the market back some confidence, which in turn led to the increase in the price of bitcoin,” – said a top Manager.
Supper supports the view that the cryptocurrency market is in the formative stage, and in the end cryptocurrency will change our life and will receive wider application. However, before that happens, the industry requires a “proper legislation and regulation.”
“The market for cryptocurrencies is a very young industry, and with the right legislation and regulation of the cryptocurrency will become part of our everyday life. Technology, on the basis of which the work of cryptocurrency – the blockchain – is used by many sectors, and I would not be surprised if some company will create its own cryptocurrency for internal use. With the improvement of technology interest in virtual currencies will rise and we will definitely see their wider application in the future,” concluded Supper.
Recall that not all experts are optimistic about the future growth of the stock market. Well-known Japanese economist Yukio Noguchi (Noguchi Yukio) believes that the cryptocurrency market is no longer able to show such a sharp increase in prices, as it was previously. And the reason for that is the existence of a futures market.
However, other experts, such as the head of the website of the financial market ADVFN Clem chambers (Clem Chambers), I believe that the bitcoin price will return to $20 thousand, and in the future will be able to achieve a much higher level – $100 thousand