Currently, in the cryptocurrency media, we are observing a new wave of predictions about the exchange rate of digital currencies. CCO BitPay said on Tuesday in an interview with Bloomberg that the altcoins will “never return” to their previous prices, but Bitcoin (BTC) “will bounce back” in 2019.
9 Bitcoin Price Predictions For 2019 – $20000 Or More?
Sonny Singh from BitPay said that cryptocurrency markets are now on the verge of a new stage of development that requires a certain “defining moment” or “catalyst”. According to Singh, this “defining moment” will come when large institutional investors such as Goldman Sachs and BlackRock will definitely enter this market.
A new era
Forecasts that Goldman “will launch a sales outlet, Fidelity will launch Bitcoin products, Square will offer Bitcoin processing for traders, BlackRock launches ETF.” According to Singh, this will be “proper adoption.” This will eventually give another wave of boom.
However, what is interesting – and at the same time contradicts the current trends – Singh believes that although Bitcoin “will rebound next year”, altcoins “will never return” to their previous levels. Sam claims that companies such as Fidelity and BlackRock “do not intend to run products [based on] altcoins, but intend to introduce products [related to] Bitcoin”.
BitPay is said to have “never been more optimistic” in the thinking of Bitcoin. The industry goes “at full speed”, along with the growing number of partnerships and new employees. BitPay has recently begun working with the luxury car company Post Oak Motor Cars to allow the American dealer to accept BTC and Bitcoin Cash (BCH) as a form of payment for Rolls-Royce, Bentley and Bugatti vehicles.
Referring to new “big entities” in the industry, anonymous sources revealed that the American banking giant Morgan Stanley is planning to offer bitcoin swaps to clients that would enable them to trade in cryptocurrency derivatives without having any cryptocurrency.