BlockShow Asia 2018 Event Concludes with Optimistic Bitcoin Future Despite Current Crypto Winter
BlockShow Asia 2018 has closed on November 29 with a very optimistic view about the future of the virtual currency space. The event predicts that blockchain technology and cryptocurrencies will have a better 2019.
According to information released by BlockShow, around 2,800 people attended the two-day conference. Several important investors were present and more than 50 speakers from different projects and countries discussed the current state of the market in different panels.
During the first day, one of the most important topics was related to the cryptocurrency ban in China. Other topics discussed were decentralized networks for artificial intelligence (AI), the impact of blockchain technology in the gaming and ecological sectors and more.
Jeffrey Huang, the founder of the decentralized social media platform known as Mithril, gave a very positive speech about what is waiting in 2019 for the crypto world.
“In three to six months the growth will be exploding. It’s cool to be in this new technology, new space, where it’s really quiet and nobody is on the secret yet,” he commented. “I think definitely the bear market is helping again, kind of like the China ban, [it] gets rid of the noise, gets rid of the pretenders [and] people that aren’t going to be around three to five years from now.”
Those who take the risk are going to be rewarded in the future, working and coming out on top once the bear market ends. Something similar said Tom Lee, which is a recognized figure in the crypto space and bullish about the future of virtual currencies. He stated that bear markets are ‘golden time’ to invest in crypto.
He explained that the only time that the return is better than seven per cent is when investors buy during bear markets. Although Bitcoin can lose part of its value, he says that we are just in the earliest days of the crypto world. In the future, Lee believes that Bitcoin will become an emerging asset class.
Bobby Lee, the co-founder of one of the oldest cryptocurrency exchange in China and the Mining Pool BTCC, said that users should hold their Bitcoins during this bear market.
The cryptocurrency market has been in a bear trend during the whole 2018. During the last weeks, Bitcoin and other virtual currencies dropped even further. However, the market recovered part of is value in the last days. In the future, new investors could be ready to place their funds in the market. There are companies that are creating and building infrastructure for institutional and traditional investors to have access to the market.
This was the second time that BlockShow came to Singapore. In the past, the conference was held in Las Vegas and in Berlin.