In a market as volatile as Bitcoin, anyone with extensive knowledge about cryptocurrencies is capable of launching predictions and dreaming about the users of this community. This time, it is Eran Eyal, the CEO of the Shopin project, who was asked if the price of Bitcoin would rise above US $ 20,000. In this sense, Eran affirmed:
I have no doubt that Bitcoin will exceed $ 100,000.
Shopin is a project that defines itself as the first decentralized profile for buyers in the world, since, of course, it is based on Blockchain technology. It is a market that aims to radically change the way we buy on the Internet. Currently his initial sale of tokens is active, raising more than US $ 250,000 so far.
Although Eran did not give details in relation to the moment in which this milestone in the price of the cryptocurrency would occur, he relied on some historical facts and data to support his claim. For example, he said that Ethereum was trading around US $ 245 in September, however, now its value exceeds US $ 950.
Although the best-valued cryptocoins on the market continue to lose value, the executive believes that the price drops are due to regulations in China and South Korea. As previously reported, the South Korean Ministry of Justice has proposed to ban the cryptocurrency trade, while the Chinese government seeks to censor all online trading platforms.
In his declarations, Eran assures that in the USA the exchange offices were closed three times in the past, and this did not prevent the Bitcoin from continuing its ascent. Elan is convinced that the Bitcoin will not fall, but will stabilize and gain momentum when the regulations cease.
Market fluctuations do not represent a collapse
The executive also noted that the Ethereum is different, because it is a platform used to build applications and other cryptocurrencies. He affirms that the value of Ethereum depends on the use of the cryptocurrencies that are built on their ecosystem, which gives cryptocurrencies an economic value within their sectors of use.
They were assured that fluctuations are natural in a young industry such as cryptocurrencies, therefore, they are not a sign of a market crash. He affirms that the future of cryptocurrencies is linked to that of Bitcoin, and that the regulations in the aforementioned Asian countries will soon cease.
South Korea will not regulate Crypto Currencies, they will only make sure that people won't use them anonymously ! For now..