Tags: crypto | market | bitcoin | 20th | birthday

Crypto Market to Rise 5000 Percent by Bitcoin's 20th Birthday

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Monday, 05 November 2018 09:59 AM Current | Bio | Archive

Bitcoin, the world’s first and largest cryptocurrency by market capitalization, recently celebrated its 10th birthday.

Yes, it’s been a decade since Satoshi Nakamoto released the bitcoin whitepaper, and the progression and expansion we’ve seen in the crypto world has changed drastically since then.

However, despite bitcoin’s influence and dominance of the cryptocurrency sector to date, it’s my view that this will substantially decline in its second decade, whilst the crypto market is likely to grow by at least 5000% over the next 10 years.

A bold statement, considering bitcoin is what started the crypto revolution. It was bitcoin that changed the way the world handles money, makes transactions and manages assets forever.

As Twitter CEO Jack Dorsey said in an interview with The Times earlier this year: “The world ultimately will have a single currency, the internet will have a single currency. I personally believe that it will be bitcoin.”

Indeed, it all began with Bitcoin. However, Bitcoin’s sway and sovereignty over the crypto sector will, I believe, reduce considerably. This is predominantly because with the growth of mass cryptocurrency adoption, we’ll see more and more digital currencies being launched by both private and public sector organizations.

This will, in turn, increase competition for Bitcoin and impact its market share.

In addition, it’s probable that the world’s first cryptocurrency will be affected by technology advancements and enhanced features offered by existing and not-yet-released cryptocurrencies.

We’re seeing a continual move away from fiat money, the pace of which is only set to increase within the next decade.

The pace of mass adoption will accelerate and the crypto market cap, it can be reasonably assumed, could reach at least 5000% over its current valuation in 10 years.

With the cryptocurrency market worth more than $400 million today, this could see it reach the $20 trillion mark in a decade.

A growing number of major institutional and retail investors, as well as global financial institutions and regulators, amongst others understand and recognize that cryptocurrencies are the future of money.

There’s no going back, cryptocurrencies are here to stay, and nothing will change that.

However, what we will undoubtedly see is monumental change in the crypto market by the time bitcoin reaches its 20th birthday.

Nigel Green is founder and CEO of deVere Group. One of the world’s largest independent financial advisory organizations, de Vere does business in 100 countries and has more than $12 billion under advisement.
 

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NigelGreen
There’s no going back, cryptocurrencies are here to stay, and nothing will change that. However, what we will undoubtedly see is monumental change in the crypto market by the time bitcoin reaches its 20th birthday.
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2018-59-05
Monday, 05 November 2018 09:59 AM
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