Capitalization of the cryptocurrency market could grow by 10 times in 2020 due to bitcoin. This forecast was made by the Director of hedge Fund Pantera Capital Circle Joey (Joey Krug).
During an interview with Bloomberg Circle shared the view that measures to improve network scalability bitcoin (BTC) laid the Foundation for the future growth rate, plummeting this year.
“This is any market. If you have problems with scalability — you have no market makers,” said Krug.
Lately in the cryptocurrency industry, considerable growth proposals for market entry of institutional investors. It became known yesterday that Fidelity Investments, specializing in asset management, is going to launch a trading platform for institutional investors, including hedge funds. Most of the major market players, including the founder of the Bank Galaxy Digital investor Mike Novogratz (Mike Novogratz), reacted to the news positively, however, the market sentiment and the exchange rate of bitcoins event to change are unable.
As explained by Circle of sentiments for the most part depend on the degree of acceptance of bitcoins in the current situation, which is largely based on its potential for scalability. However, many still expressed doubt that bitcoin ever will be able to compete with payment giants like Visa and MasterCard.
“I don’t know if it happens with bitcoin, but I’m sure in the next couple of years remittances on the blockchain will be as quick as Visa and MasterCard,” added Round.
According to the expert, this in turn will cause the growth of cryptocurrencies, and in two years the price of bitcoin could grow 10 times.
Note that the solution to the problem of network scalability bitcoin is one of the highest priorities among developers. As one of the solutions network was created for offscan transactions Lightning Network, which allows the speed of processing transactions in bitcoin. In September it decided to connect 4000 commercial enterprises.
