Even after the drop Bitcoin experienced in November, the asset’s worst month since April 2011, strong believers in this asset class have held on to their faith. For example, Tom Lee, in a recent interview with CoinTelegraph said that Bitcoin, Ethereum and XRP all have “staying power.” He then added that he expects 2019 to be a very good one for Bitcoin. Interestingly, he isn’t the only one with this belief.
Bloomberg recently interviewed both Roger Ver (Bitcoin.com’s CEO) and Mike Kayamori (a crypto industry CEO), for them to throw some light on the crypto market. The anchor first talked about the dismal performance of BTC, questioning the industry insider if this is the way the long-predicted crypto market “flush out” wants to happen.
Bitcoin (BTC) Price Today – BTC / USD
Kayamori, head of Quoine (a leading fintech company) which is majorly based on blockchain, first pointed out that while $4000 was tipped to be the technical bottom, BTC fell right through. Noting the thoughts of Ver about the unpredictable crypto market, Kayamori said that when it comes down to a prediction for a bottom, “nobody knows.” He continued saying that: “when you look at historical trends and how things are going now, I think the bottom is near.”
The comments of the Quoine chief concerning a bottom reflects those made by the Standpoint Research director, Ronnie Moas and Chief analyst of ThinkMarkets, Naeem Aslam. Concerning this matter, Naeem Aslam recently said that: “Whenever there’s a [market] panic of this [size], it’s almost certain that we’re nearing a bottom… So we are very close to finding that Bitcoin bottom, wherever that bottom lies… Now is the point where you start preparing yourself to be in a position to participate [in crypto].”
By the end of 2019, Kayamori expects a new all-time high for Bitcoin
The Bloomberg T.V host were interested in Kayamori’s comments, and therefore asked him where he expects prices to be in few years to come. In response, he said he initially thought Bitcoin’s recovery was going to happen by the end of 2018, but now as it stands, the probability is low.
However, he targeted 2019 as a year for Bitcoin to start moving drastically on “new momentum and sentiment.” In the closing phase of his interview, he said that by the time 2019 comes to an end, Bitcoin will most likely surpass $20,000 (its all-time high).