Opinion. Why does bitcoin have a future?

Ronnie Moas - a qualified financial analyst, founder of the Standpoint Research Company, is assured that a cryptocurrency market is only starting out… “We believe that being one of its major competitors, bitcoin undercuts the positions of gold. We believe that from the point of view of the basic properties of money, bitcoin serves better in this role than gold...” Tim Draper is an authoritative venture investor, who says that cryptocurrencies will take over the leading positions in the global monetary circulation sooner or later. Draper invested in bitcoin at the early stages having managed to estimate…

EXMO news

Opinion. Why does bitcoin have a future?


There is one important thing about how to reach success - is an ability to foresee the perspective sooner than the others. That is why the first crypto-investors are the billionaires today. Though it has taken some time before people started experiencing a huge interest in bitcoin and other cryptocurrencies, those people, who could wait a little were awarded.

Any investor would like to get to know the opinions of the crypto-authorities, who have succeeded in the sphere of crypto-economy due to their knowledge and risk appetite. Here below are the forecasts and opinions of the people, who have been working in the crypto-domain and reached some positive achievements.

So, let’s see how do the prominent representatives of the crypto-industry and venture business estimate the future of cryptocurrencies.

Ronnie Moas: “Cryptocurrency market is at the beginning of its way”


Ronnie Moas - a qualified financial analyst, founder of the Standpoint Research Company, is assured that cryptocurrency market is only starting out. Though Ronnie does not exclude the possibility of the total fail, he believes that cryptocurrency market is likely to go up by 5 or even 10 times in the nearest future. Bitcoin rate may be up 5 times if its market share rest the same.

Moas does not even exclude that the cryptocurrency market will be growing as rapidly as a number of the Internet users during its developmental boom. A number of the Internet users went up by 10 times since 1995 to 2000 and 4.5 times during the next 10 years. The analyst believes that the potential of cryptocurrency rate growth can be compared to a number of the Internet users. Thus, currently the situation resembles the matter of things in 1996.

Dan Morehead: “Bitcoin is under-owned by the institutional investors”


Dan Morehead - CEO of Pantera Capital, the professional investment company, asked everybody to stay calm during the last cryptocurrency market correction. Dan has also forecasted a revitalization and beginning of the bitcoin market growth in the end of February. Though being earlier, his forecast was a right one:
“We are well aware that this is a highly speculative market. A fall from the top to the bottom, by 64%, is exactly the average decline in the bitcoin market over the past seven cycles of the bearish market. Therefore, it seems that it is necessary to wait a couple of weeks, and the situation will normalize <...>.”

Morehead has spoken on the global perspectives of the cryptocurrencies:
“The appetites of financial institutions wishing to deal with this market are great. This is a class of assets worth half a trillion dollars, which does not belong to anyone. This madness. Institutional investors still neglect bitcoin so much that it is traded, so to speak, at its own pace.”

Cameron Winklevoss: “Bitcoin could be worth 40 times its current value one day”


The Winklevoss brothers are the bitcoin-billionaires and owners of one of the crypto-exchanges, who do not need any further presentation. One of the brothers, Cameron has recently declared that he was expecting bitcoin rise up to 30-40 times (reaching 300-400 thousand dollars). He believes that bitcoin market perspectives can be compared to the gold market because of the fact that the role of bitcoin can soon become similar to the current role of gold.

According to the statistics, there are 172 thousand tons of gold, making 1336 USD for 31.103 gr. at the current ozt. Thus, the total gold market capitalization is estimated of 7.338 tln. USD. As for bitcoin capitalization, it is estimated of 364 bln. USD. Thus, the current bitcoin capitalization is more than 30 times less than the gold market one.

Winklevoss does not provide the accurate forecast of the time when bitcoin rate reaches the mentioned figures. However, he also highlightens that bitcoin is still strongly underestimated as an investment asset:
“Taking bitcoin in isolation … we believe bitcoin disrupts gold. We think it's a better gold if you look at the properties of money. And what makes gold gold? Scarcity. Bitcoin is actually fixed in supply so it's better than scarce … it's more portable, its fungible, it's more durable.” - says Cameron.

It is difficult to say how accurate Cameron’s forecast is as it is not still clear enough whether bitcoin is going to play the same role in the global economy as gold is playing now. Nevertheless, Cameron is arguing reasonably.

Tim Draper: “Bitcoin will take over the world”


Tim Draper, is an authoritative venture investor, who says that cryptocurrencies will take over the leading positions in the global monetary circulation sooner or later.

Draper was the one, who invested in bitcoin at the early stages having discovered its great potential. He managed to purchase 32 000 BTC at auction in 2014, where the confiscated digital currencies were offered for sale after Silk Road, a darknet platform, liquidation. At that time, Tim spent 20 mln dollars to pay for the deal. Still, today the purchased bitcoins are valued of almost 400 mln dollars. Apart from the bitcoins, Draper has also purchased about 40 different altcoins and successfully invested in ICO.

Tim is sure that Bitcoin and cryptocurrencies will finally replace fiat (regular) money:
“I believe that Bitcoin and crypto will drive most of the commerce of the world” - says Tim. He also argues that people will no longer be willing to use fiat money after having understood that cryptocurrencies are more decentralized, secure and have no limits, while fiat money are dependent on the will of the politicians.”

Tom Lee: “Bitcoin is to set a new record in summer 2018”


Thomas Lee is prominent financial expert and ex-analyst in JPMorgan Chase. He has analysed the dynamics of bitcoin rate and made a conclusion that a bitcoin price “before correction” (about 20 thousand USD) will get stabilized till May. Tom argues that Bitcoin rate will be able to renew the price records closer to the mid of summer. He also says that the bitcoin price will make at least $25 000 till the end of the year.

Evidently, Thomas Lee makes his predictions for the current year cautiously. However, he does predict the bitcoin rate of $125 000 till 2023. These estimations and predictions are no groundless. Tom is ready to confirm his conclusions with the help of technical analysis, the basics of which we have already discussed. Tom has applied the methods of technical analysis to the bitcoin rate during the whole period of its existence (including corrections, which are frequent in this market).

Make sure to follow our updates on EXMO official website and through the official channels: Telegram, Facebook, and Twitter.

Visit EXMO Youtube channel to find out useful information on cryptocurrencies and trading on the platform.

Thank you for staying with us!
Your respectfully, EXMO team