When you ask some big guys what they think about cryptocurrencies, opinions are really different: for some ones, bitcoin and other virtual coins are “the future”, the way for all of us. For others, they are fraud and won’t sustain theirselves for a long time. Well, they exist for some good time, right, but it isn’t being used for marketplace – the real challenge.
Now, what about to know some opinions from experts?
Dan Morehead, CEO of cryptocurrency hedge fund Pantera Capital believes that the total cryptocurrency market place capitalization can attain $40 trillion in about a decade. The existing market place cap is at $421 billion.
Morehead reiterated his bullish call on Bitcoin, calling it a ‘screaming buy’ at the current levels.
A equivalent opinion was voiced by John Pfeffer, a partner at UK-based Pfeffer Capital who suggested Bitcoin as an excellent investment chance in the Sohn investment conference in New York. Based on him, Bitcoin could replace gold or grow to be the new reserve currency from the world. This could outcome in its cost skyrocketing to $700,000.
Around the other finish in the spectrum is the former head of Paypal, Bill Harris, who believes that Bitcoin is really a fraud and shouldn’t be worth billions.
The bear market place in cryptocurrencies has impacted its trading volume. The typical every day traded volumes have plunged from a high of $17 billion in December to a low of $7.four billion in the 1st half of April.
This shows that the market participants have been hurt by the sharp decline in costs and a lot of are however to return to trading. Nevertheless, there is a hope that the entry of institutional players will make up for the loss in retail trading volume.