Topic: [2018-02-23] Bitwise Exec Predicts Trillion Dollar Crypto Market Cap this Year (Read 118 times)
February 23, 2018, 04:00:34 AM
I am sure we will get there but the road to that goal will indeed be very bumpy wit many twists and turns that can make anyone dizzy. So it will be good if we should be buckling up and get ready for the ride of our life in cryptocurrency. Why this is so? Primarily because cryptocurrency in general and Bitcoin in particular is a disrupting force and those being disrupted are and will always put up a fight to protect their own turfs. This is a civil war...in a way.
The thing is that there is a big future for cryptocurrency and eventually the government will realize that fighting this new revolution can be futile so they will eventually be joining the movement using their regulatory power to have the say in the process. Again, this is a pioneering move and the road is not yet being paved...expect many difficulties as we are the one making the road for it.
I would be so happy to witness one day when cryptocurrency can be that big in terns of market capitalization.
February 23, 2018, 01:58:49 AM
So he's predicting the rise of the industry which he has recently shifted to? That's not too much of a surprise lol. His statements do make sense and I mostly agree with him, but let's not forget that there is bias in play.
There has been growing anticipation for this for a while now, and it's more likely that it's a response to that anticipation, rather than a solid indication.
Quote
In his new role, Hougan will be focused on classification and analysis of cryptocurrencies. Bitwise’s decision to court ETF veteran Hougan suggests that a bitcoin ETF could be on the horizon.
There has been growing anticipation for this for a while now, and it's more likely that it's a response to that anticipation, rather than a solid indication.
February 23, 2018, 01:23:29 AM
Matt Hougan has made a career shift from ETFs to cryptocurrencies. He jumped from the traditional fund market to a cryptocurrency index-fund manager, a market he described to Bloomberg as a “generationally significant opportunity with interesting challenges.”
He joins San Francisco-based Bitwise Asset Management as vice president of R&D. He made a splash with his call that cryptocurrencies are on their way to being a multi-trillion dollar market, though he admits to Bloomberg cryptos remain an “early-stage technology” that could be a bumpy road at times.
“The pathway to $1 trillion eventually is fairly certain. How we get there is going to be volatility and uncomfortable. I think we’ll get there pretty soon, though. I wouldn’t be surprised if we ended the year with a cumulated market cap of over $1 trillion. But I wouldn’t be surprised if there were a significant drawdown again before we got there,” Hougan told Bloomberg.
For instance, Hougan suggests the cryptocurrency markets could suffer a 50% drop before attaining a $1 trillion combined market cap. And as the leading digital coins have proven so far in 2018, volatility is the name of the game. “I think for investors the important thing to realize it’s an extremely volatile, high-risk asset. That’s why you have the high potential returns,” he said.
To the naysayers, who could never imagine bitcoin competing with gold or functioning in payments/money transfer, he politely suggests they’re shortsighted and forgetting that “tech increases at an exponential rate.”
Full article: https://www.ccn.com/bitwise-exec-predicts-trillion-dollar-crypto-market-cap-year/
He joins San Francisco-based Bitwise Asset Management as vice president of R&D. He made a splash with his call that cryptocurrencies are on their way to being a multi-trillion dollar market, though he admits to Bloomberg cryptos remain an “early-stage technology” that could be a bumpy road at times.
“The pathway to $1 trillion eventually is fairly certain. How we get there is going to be volatility and uncomfortable. I think we’ll get there pretty soon, though. I wouldn’t be surprised if we ended the year with a cumulated market cap of over $1 trillion. But I wouldn’t be surprised if there were a significant drawdown again before we got there,” Hougan told Bloomberg.
For instance, Hougan suggests the cryptocurrency markets could suffer a 50% drop before attaining a $1 trillion combined market cap. And as the leading digital coins have proven so far in 2018, volatility is the name of the game. “I think for investors the important thing to realize it’s an extremely volatile, high-risk asset. That’s why you have the high potential returns,” he said.
To the naysayers, who could never imagine bitcoin competing with gold or functioning in payments/money transfer, he politely suggests they’re shortsighted and forgetting that “tech increases at an exponential rate.”
Full article: https://www.ccn.com/bitwise-exec-predicts-trillion-dollar-crypto-market-cap-year/
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