Bitcoin is really capable of getting back to the all-time high at $20K per coin. This is what founder of Coinshares Danny Masters thinks on the matter. He is not a rookie in this business. His company has been creating investment products for the cryptocurrency market and conducting blockchain-related research for years. Mr. Masters believes in the future of Bitcoin and altcoins. However, he thinks the market is yet to pass a few development stages.
The thing is, today’s cryptocurrency market is relatively young. In order to reach its full potential and to get integrated into the global finical system, the market will have to get derivatives, indexes etc. Still, the market is still far away for this stage, which is something that scares away many serious investors.
Also, cryptocurrencies need an expanded and improved infrastructure in order to come up with new ways to store coin, implement ICOs and other innovative solutions designed to improve the market transparency, robustness, and standards.
He also reminded that 3 years ago, there was almost no interest in cryptocurrencies, with a handful of savvy and experienced investors. Since then the situation has changed drastically. This fact can be indirectly confirmed by 8000 participants of Consensus, a cryptocurrency conference that took place on New York on May 14th-16th.
previously, we already reported that Pantera Capital had predicted a Bitcoin rally up to 20000 USD/BTC in a matter of 12 months.
In the meantime, Bitcoin keeps on going down along the downtrend. Over the last 24 hours, BTC has lost over 200 dollars, NordFX reports.
