Tim Draper, already a legendary cryptocurrency investor, now predicts that the market capitalization of this market will amount to USD 80 trillion over the next 15 years.
Speaking at the DealStreetAsia PE-VC Summit 2018 conference in Singapore, Draper said that a significant decline in the cryptocurrency market in recent months was the fault of those investors who did not consider digital currencies as a new asset category. However, he believes that once people become familiar with technology, it will transform many important industries and areas of our lives:
“I think it will have such a transforming effect on industries that we did not even imagine could be transformed. The internet has followed areas that were $ 10-100 billion worth of markets, cryptocurrencies will follow the billion-dollar markets – finance, healthcare and insurance, banking and investment banking, and governments. ”
BTC like the early Internet
Draper also compared the current state of the market with the early years of the Internet:
“The Internet started in the same way, it appeared in large waves, and then in a sense it disintegrated, and the next wave was concentrated, but much bigger and I suspect that the same thing will happen here (with Bitcoin).”
Brian Kelly from “Fast Money” (CNBC program) also compared the cryptocurrencies to “Internet in the 80s”, indicating that Bitcoin (BTC) is still at an early stage.
– I think that when this technology works, there will be a change in the rules of the game, but it’s very early days, so we can observe a huge variability – said Kelly.
Who gives more?
It is possible to note that we have a season return to the news like “How much will Bitcoin cost?” And “Is this the end of Bitcoin?”. A few days ago, Vitelik Buterin, the creator of Ethereum, admitted that he no longer believes in such spectacular bubbles on cryptocurrencies. Binance’s CEO CZ sent him the ball through the media and said he still sees huge potential for market growth.
Observing even the comments of small investors on the market one can notice some uncertainty about the future of Bitcoin, which paradoxically may herald a change in the trend. At least such moods have been observed so far in this market at crucial moments (just as the bursting of bubbles often heralded excessive confidence of players on the stock exchanges).
We emphasize that the above statements are not investment advice. You always invest at your own risk!
image: Bancor – Bancor Network