Circle CEO Predicts That Bitcoin Price Will Boom
December 17, 2018 12:58 pm
After the growth in December 2017, Bitcoin’s price started falling continuously and reached the lowest level before a couple of days. Some of the famous investors around the world predicted that Bitcoin’s price would again raise, but nothing seems happening.
Jeremy Allaire, CEO of the Boston-based startup’s CEO said that from a fundamental perspective, Bitcoin (BTC) and Ethereum (ETH) both look oversold. According to the CEO, the amount of usage on the two networks justify higher short-term valuations for their respective assets.
While discussing the same topic from a long-term outlook, Allaire included that he is not willing to issue significant price predictions. According to him, he sees abounding potential in a network like Bitcoin.
Mr. Allaire included that it is certainly going to be worth more than it is today in three years. He released his bullish statements among the cryptocurrencies such as Bitcoin.
The CEO added:
“The key thing with bitcoin is [that] it’s unique in its security and scale. And as an idea that we need a scarce [and] non-sovereign store of value that individuals can hold, and hold in a protected fashion, [Bitcoin] is attractive all around the world.”
He went on noting that he expects to have a future filled with millions of cryptocurrencies, whether they take the form of security, commodity, or utility tokens. The CEO added that he doesn’t believe that cryptocurrencies are a “winner takes all” scenario. According to him, various projects can live in relative harmony due to the innovational potentials of digital currencies.
In July 2018, BitMex CEO also predicted that Bitcoin Price would Reach $50,000. According to Arthur Hayes, the CEO Bitcoin’s price has been on a wild roller coaster with investors, but something that goes up to [around] $20,000 in one year can have a correction.