The market is still in the red and it seems it would be staying that way for a while.
With the latest “fall” in the crypto market, skeptics have been speculating on whether Bitcoin and its compatriots could mount a quick comeback and shake off this bearish run. However, in the midst of all this skepticism, some certain individuals continue to bet on crypto to be the future of money and the financial system. One of such individuals is Roger Ver, angel investor, early Bitcoin enthusiast, and Bitcoin Cash evangelist.
Speaking in an interview with Bloomberg Daybreak: Europe, on Tuesday, Ver touched various aspects of the ongoing crypto debate, including his outlook on cryptocurrencies, the threat of regulation, mainstream adoption and Bitcoin Cash (BCH).
When asked about whether the market had reached a floor in the value of Bitcoin, seeing that the market had dropped almost 80% of its all-time high, Ver said he was unsure as the uncertainty of cryptocurrencies is what makes them exciting.
“Nobody knows, and I think that’s the interesting thing about cryptocurrencies. Nobody knows whether it’s going up, down or sideways.”
He, however, said that while things looked dire in the short-term, the long-term future of Bitcoin remains very bright. Ver went on to state that there are more awareness, attention, and events going on in the crypto ecosystem, and all of these shows that things are looking up.
Ver also touched on the recent increase in crypto-related fraudulent activities and scam reports that have undermined the security and reliability of cryptocurrencies in general, stating that if anything, these negative reports all point to the fact that cryptocurrencies are getting more valuable and more mainstream adoption. He noted that the market continues to welcome big players, despite the bad news coming out from the industry. “If hackers are trying to hack it, m means that there’s something valuable in crypto, and this sends bullish signs that crypto is here to stay.”
Ver is definitely not the only financial expert betting on cryptocurrencies to bounce back from this downturn. Last month, Digital Galaxy founder Mike Novogratz stated in an interview that while 2018 was a “challenging” year, 2019 will be the year when financial institutions will move to invest in cryptocurrencies proper, thereby spurring a “flip.”
Featured image from Shutterstock.