Crypto Executives Remain Bullish, Very Positive About Bitcoin’s Future Even After Year-Long Bear Market
In 2018, virtual currencies including Bitcoin (BTC) dropped more than 80% against the U.S. Dollar. Indeed, some altcoins lost more than 95% of their value since their all-time highs. Nevertheless, executives in different businesses from all over the world are very bullish about the future of the space.
Back in 2017 and the beginning of 2018, crypto projects have been launching tokens through Initial Coin Offerings (ICOs). However, some of these digital assets were not able to survive the bear market.
Bitcoin has lost 82% during the last year and it remains as the most important digital asset in the market. And indeed, Bitcoin’s hash rate continued to grow even during the last 12 months when its price was falling.
Sheri Kaiserman, the principal advisor of Mac.la, explained that the best what investors can do is to buy infrastructure companies. About it, he said during a conversation with Bloomberg:
“We felt like the best way to make money is to buy the infrastructure companies – the picks and shovels – that are helping build the foundation. They are coming down in valuation, which is the best part of the crypto winter for us.”
When the market was growing, several crypto projects had billions of dollars of market capitalization. But these projects were not able to show functional products. Most of them failed to show working products and platforms as they promised to investors.
According to Jameson Lopp, CTO at Casa wrote an article in which he shows the growth that Bitcoin registered during 2018. The fundamentals behind continue to grow, even amid a bear market.
In the near future, Bitcoin could experience an important growth due to new investments from institutions all over the world. There are several projects that aim at increasing the presence of retail and institutional investors in the market. This would allow Bitcoin and digital assets to keep growing after a year operating negatively.