Fred Wilson, the co-founding father of Union Square Ventures, holds that 2019 will see the cryptocurrency market backside out and ‘slowly’ enter a new bull run. However, he’s additionally involved by actions of ‘misguided’ regulators.
2019: Finding the Bottom
Venture capitalist and co-founding father of funding agency Union Square Ventures, has laid down his predictions on the total state of the cryptocurrency market in 2019.
The investor believes that we’re at the moment in the technique of bottoming out. However, he thinks that this may take a lot of 2019 however it will likely be adopted by “some bullish runs.”
I count on we’ll see some bullish runs, adopted by promoting pressures taking us again to retest the lows. I feel this bottoming out course of will finish someday in 2019 and we’ll slowly enter a new bullish part in crypto.
Unlike others who’ve primarily based their optimistic predictions on catalysts comparable to additional market adoption, institutional cash getting into the market, infrastructure, and so forth, Wilson sees the premise of a new bullish run in the face of the outcomes of guarantees made again in 2017.
I feel the catalyst for the subsequent bullish part will come as the results of a few of the many guarantees made in 2017 coming to fruition in 2019 […] I feel we’ll see a variety of “next gen” good contract platforms ship and problem Ethereum for management on this tremendous essential space of the crypto sector.
Another space the place Wilson thinks 2019 will carry ‘significant progress’ and additional adoption is stablecoins. He’s not alone on the matter.
Bitcoinist reported earlier in November that CoinJar’s co-founder Asher Tan additionally believes in the potential of stablecoins to resolve the drawback of volatility in the cryptocurrency area.