Cryptocurrency market update: Expect cryptos to bottom out in 2019 before a bull-run kicks off- says VC
|- “I think this bottoming out process will end sometime in 2019.”
- There will be a significant development in the market coupled with mass adoption of stablecoins.
It is that time of the year when some of the renowned experts in the market cast their yearly predictions on the market trend. A venture capitalist, Fred Wilson who doubles as a co-founder of Union Square Ventures, an investment management company has predicted that cryptocurrencies will find a bottom. He, however, notes that the bottom will be in 2019 and will usher in a steady bull-run.
“I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows. I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”
It is interesting to see a prediction based on the past promises as opposed to the expected activities such as mass adoption, an influx of institutional funds, improved infrastructure among others. Fred Wilson bases his prediction on the promises made in the course of 2018.
“I think the catalyst for the next bullish phase will come as the result of some of the many promises made in 2017 coming to fruition in 2019 […] I think we will see a number of “next gen” smart contract platforms ship and challenge Ethereum for leadership in this super important area of the crypto sector.”
In addition, Wilson has faith that there will be a significant development in the market coupled with mass adoption of stablecoins. His comments on stablecoins come after the co-founder of CoinJar Asher Tan who said back in November that he expected stablecoins to bring a lasting solution for the problem of volatility.
He also notes that digital assets should get ready to deal with pressure from ‘misguided regulators.”
“The area I am most concerned about are actions brought by misguided regulators who will take aim at high-quality projects and harm them.”
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