Commercial Director Bitpay Sonny Singh, spoke on Bloomberg TV and shared his views on the future of bitcoin.
Industry news will affect the rate
Singh said that the bitcoin drop to $4500 is not so important, since the last time the cryptocurrency has received the status of hot topics, the “brand”. According to him, the price dynamics of BTC is not too depends on the fundamental events and changes, and changes in the situation should just wait for after launch Bakkt, Fidelity Digital Asset Services, as well as after strengthening position in the cryptocurrency space companies such as Blackrock and Square.
Singh also noted the announcement of the IPO Silvergate, a possible IPO launch Coinbase and consolidation of the mining market, challenging last year’s statement of Jamie diamond (JP Morgan), who called bitcoin a “Scam”.
Responding to a question about altonah, Singh called himself a “bitcoin maximalist”: according to him, bitcoin and altcoins are different as “night and day”. According to Singh, there is the first blockchain network and “everything else.”
Finally, Singh and gave his prediction: in 2019, the cryptocurrency industry is waiting for many changes, for example, the launch of the ETF and launch of platform Fidelity. Therefore, mark any $15 000 or $20 000, do not go beyond the possible.