A well-known venture investor, co-founder of the group Union Square Ventures, Fred Wilson, estimated the immediate prospects of Bitcoin. In his opinion, in 2019, the cryptocurrency market will be dominated by bullish trends.
Wilson, who owns shares of companies such as Twitter, Tumblr, Kickstarter analyzed the macroeconomic situation, assessed the likely scenarios in the us-Chinese relations, as well as dwell on the situation in the crypto-currency market.
According to Wilson in 2019, the crypto market can reach its bottom. And the process of "immersion" can be delayed for the entire first half of the year. At the same time, it expects market volatility and its vulnerability to speculation to increase as well. As a result, the transition to a new bullish phase will be gradually implemented.
The expert believes that one of the reasons is a number of ambitious projects, dated 2017 year like ICO Filecoin and Algorithand, which have not yet been fully implemented. The estimated minimum for the first half of the year: 3150 dollars for 1 BTC.
Wilson expressed hope that soon there will be competitive projects with smart contracts that can compete with Ethereum. Another key point for the further development of the market is the formation of stablecoins, which guarantees global stability. Among the negative aspects, the investor calls the policy of regulators from different countries, which can create serious restrictions for the development of technologies and the market.
img credz: pixabay.com
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