Famous Trader: Bitcoin Prices Will Increase
Coinbase alum and crypto investment firm founder Nick Tomaino said the cryptocurrency markets will rise once again. Tomaino said this increase could be performed only by speculations as he said it can reach more than 1 trillion dollars.
“I see investing and speculating as adoption. I think it is possible that crypto gets from $200 billion to several trillion on just that [speculation]. From my perspective, what I’m seeing globally in terms of viewing this new investable asset class I think that’s possible.”
Tomanio also said the macro trend is changing. The experienced trader suggests people are slowly moving away from the governments and big institutions as he believes the future is lying in the decentralization.
He added in the long term, we can see its potential benefits as he said:
“My view is that the most important macro trend of our lifetime is people increasingly distrusting governments and large institutions. I see it more as kind of a gradual movement into crypto, I think it’s kind of a gradual and cultural shift from people trusting large institutions and governments to using the blockchain.”
Tomaino said infrastructure around cryptocurrency industry has been constantly improving and this is a very positive news for the entire sphere. He said the market is now ready to meet the demands of big investors as he added:
“At the same time, what I’m seeing in terms of real adoption is mostly infrastructure and middleware being built to fuel real applications. That’s things like scalability solutions, stablecoins, decentralized exchanges.”
Meanwhile, the billionaire investor Mike Novogratz has recently said cryptocurrency markets are set for a huge increase in 2019. He said:
“It won’t go there ($20 trillion) right away. What is going to happen is, one of these intrepid pension funds, somebody who is a market leader, is going to say, you know what? We’ve got custody, Goldman Sachs is involved, Bloomberg has an index I can track my performance against, and they’re going to buy. And all of the sudden, the second guy buys. The same FOMO that you saw in retail [will be demonstrated by institutional investors].”
Let’s hope they are proven right.