The Chief Commercial Officer of global crypto payment processor BitPay said that;
Altcoins “will never come back,” while Bitcoin will “rebound” in 2019, in an interview with Bloomberg September 12.
Sonny Singh said that the cryptocurrencies markets are now on the verge of a new stage of progress requiring a specific “moment of decision” or “catalyst.” According to Singh, this “defining moment” is “true to life” in 2019, as Goldman Sachs and BlackRock when they are big corporate investors.
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“But next year, you’ll see that the great entertainers talk, the place where you see Goldman opening a trading desk, Fidelity launches a Bitcoin product, Square offers Bitcoin transactions for merchants, BlackRock drives an ETF market … So that’s all true and you will actually see some acceptance. And then the price will go up again. “
Meanwhile, Singh, mostly altcoins, showed a decline, while Bitcoin predicted “will regroup next year.” Singh said altcoins would “never come back” to previous levels, saying that firms such as Fidelity and BlackRock “will not use subcoin products, will market Bitcoin products.”
Speaking privately about BitPay, the company’s CCO has said that the industry is “moving at full speed” with a growing number of partnerships and new recruitment, claiming they have not “made any further gains” in Bitcoin.
In this context, BitPay has recently been integrated by the luxury car retailer Post Oak Motor Cars to enable the US franchise to accept BTC and Bitcoin Cash (BCH) as payment for Rolls-Royce, Bentley and Bugatti.
Regarding the new “big entrants” in the industry, anonymous sources have revealed that US banking firm Morgan Stanley plans to offer Bitcoin trade swaps, which will enable them to trade crypto derivatives without keeping the crypto currency.