BlockChain Capital’s Spencer Bogart said in a recent bloomberg interview that bitcoin (BTC) is now the world’s most attractive asset relative to u.s.-listed stocks or foreign-exchange derivatives. Taken together, the cryptocurrency space is doing well, if not better than ever.
With samsung’s consumer-facing cryptocurrency products, Fidelity’s bitcoin custodian and the like, Justin Sun, CEO of Tron, expects the cryptocurrency market to gradually show a steady upward trend with no major rebound.
The CEO of Tron expects bitcoin to be very weak in 2019
At the end of 2018, bitcoin prices seemed to have bottomed out. Under the influence of a series of events, bitcoin prices fell rapidly, dropping to a minimum of $3,150. Many people have been eager to ask: When will cryptocurrency prices rebound?
Justin Sun, CEO of TRON, the world-renowned blockchain company, said in an exclusive interview with NewsBTC that the bitcoin price that people expect will quickly rebound to 2017. This change will not happen so quickly. Although he is almost 100% certain, due to the enormous development potential of this emerging market, coupled with the positive promotion of some investors, it is unlikely to have a low. But at the same time he also said:
“I don’t think there will be a sudden bull market like 2017. So I think this year will be a constructive year. In terms of the development of basic technology, it takes time to train better technicians to develop better products.”
He believes that bitcoin prices will be between $3,000 and $5,000 for most of 2019 in view of these factors. He is not sure if the price of bitcoin will break through $5,000 this year – even if the price is fleeting.
However, this Chinese cryptocurrency leader is by no means the only one who holds this view. Anthony Pompliano, head of JPMorgan Chase, told many media that although the cryptocurrency market has a big “bubble”, the possibility of BTC falling to $2,500 is high, but for most of 2019, this The transaction price of the digital assets will remain between $2,500 and $5,000.
Legendary venture capitalist FredWilson has also made similar remarks. The union co-founder of Union Square once wrote through his personal blog that although the development of the company in early 2019 will become a trend, bitcoin prices will not change much in the next nine months, bitcoin price at the beginning of the year is same as that of the end of the year.
Halving the number of bitcoins would cause its price to spike
Although the leader of Tron believes that bitcoin will not have much change in 2019. He believes that by 2020, the crypto ecosystem will have a dramatic, rapid change. When there was a question about the impact of the halving of bitcoin, Justin Sun said without hesitation that the emergence of this change will inevitably have a positive impact on the cryptocurrency market.
“Cryptocurrency investors are calling for getting more BTC before halving, because the price will rebound. — NEWSBTC (@newsbtc) February 5, 2019”
However, given the general perception of many Twitter analysts, the Bitcoin market will rise due to halving, and the start of the rise will be at least six months ahead, at the end of 2019. In terms of price, due to historical and fundamental factors, the price will likely fluctuate around $8,000 because of halving.
Even if the BTC price did not appear to be a very optimistic due to the halving. But there are many other positive factors in this area that will push the industry forward.
For example, the huge breakthrough in lightning network technology. Which is largely driven by the BitTorrent technology of TRON. Justin Sun said that BitTorrent will bring 100 million users to the cryptocurrency field. In other words, “For the entire blockchain industry, 2020 will be a very good year.”
In view of the various factors in the current market. This year will be the time when emerging industry will once again take off.