Satoshi Nakamoto’s Bitcoin is celebrating its ten year anniversary and during its next ten years. However, Bitcoin’s dominance will drastically be reduced while the crypto market is likely to expand 5000 per cent, according to Nigel Green.
The 31st of October will be the ten-year mark since Bitcoin’s white paper was written. The past ten years have been a wild ride for cryptocurrencies and bitcoin alone holds a market cap of $12 billion and dominates the market by 53,8 per cent.
The next ten years might look very different according to Nigel Green, the founder and CEO of financial advisory firm deVere Group. DeVere Group was established in 2002 and has over $10 billion under management, over 80,000 customers in more than 100 countries. Green states that the crypto revolution has changed the way money is transacted forever. Even though it all began with bitcoin, other cryptocurrencies might take market shares from the father of cryptos.
“Bitcoin is what kickstarted the crypto revolution, and it has changed the way the world handles money, makes transactions, does business, and manages assets, amongst other things, forever. It all began with Bitcoin. However, while I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade.”
Even though he is very bullish on cryptocurrencies and predicts that the valuation will increase by 500 per cent during the next decade, he does not think that bitcoin will grow the most. He argues that other digital solutions will be launched with superior technology will take market shares from bitcoin.
Green bases his predictions on that a growing number of major institutional and retail investors, as well as financial institutions and regulators, amongst others, understand that cryptocurrencies are the future of money. For those reasons, the market will have grown beyond recognition when Bitcoin celebrates its 20th anniversary.
Many experts have predicted the future of Bitcoin and cryptocurrencies. Mike Novogratz predicted, a few weeks ago, that bitcoin has a bright future and will again surpass $10,000 during the first two quarters 2019. A group of researchers also made a prediction and forecasted that bitcoin would see a price of $96,000 in the years to come.
Image Source: “Flickr”
The post Bitcoins Dominance Will Decline While The Market Will Rise 5000 Per cent. appeared first on Toshi Times.
Source: Toshi Times
Original Post: Bitcoins Dominance Will Decline While The Market Will Rise 5000 Per cent.
