![]() It is probable, however, that investors will be much more discerning in the future and not simply throw money at projects offering up the perfect blend of buzzwords. Where the issue is, is the alt-coins.”Īlthough the bleeding in the altcoin market is clearly worse right now, it seems unlikely that the concept of the ICO is completely done and dusted. ![]() At BitPay, we’ve never been more bullish. Sonny currently resides in San Francisco. The ICO market is in a lot of trouble and will never get back to where they were eight months ago. Sonny Singh serves as the Chief Commercial Officer of BitPay, Inc. “People have stopped trading ICOs as much as they were. Ether has crashed down over 85% from its highs. Although Bitcoin has lost around 60% of its value in 2018, many other digital assets have suffered much more. However, he is much less sure about the future of the altcoin and ICO market. He is confident that Bitcoin prices will rise once again following some of these potential developments. Singh went on to cite Goldman Sachs’s pending trading desk, a Bitcoin product from Fidelity, merchant payment processing from Square, and possibly a BlackRock ETF. But next year you’ll see the talk of the big entrants become real.” “Right now you’re hearing a lot of rumours. After acknowledging that he has no idea if the market has reached a bottom in terms of capitalization, he added:ĥ BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. The chief commercial officer at BitPay, Sonny Singh, told Bloomberg earlier this week that Bitcoin might be down but is certainly not out. ![]() In fact, the fundamentals of the space have never been better. There is nothing to suggest that the latest market correction is not more of the same. A browse of BitcoinObituaries shows over 300 different instances in which the number one digital asset has seemingly risen from the grave. Lots of Potential Catalysts for Another Bull Run for BitcoinĮvery time the cryptocurrency market takes a nosedive, those who do not believe in the financial innovation led by Bitcoin take glee in announcing the death of the space. Sonny Singh is much less optimistic about the future of the altcoin and ICO markets, however. An executive at cryptocurrency payment service BitPay has stated that he believes Bitcoin is far from dead. BitPay CCO Sonny Singh: Bitcoin Price Could Hit 20000 Before End Of 2019 In the midst of a market plunge with Bitcoin dropping 32 in value in just a month Mr Singh said he expects a huge uptick in price as major financial institutions like Fidelity and Intercontinental Exchange is set to develop its first crypto investment product next year.
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