Japan’s Quinone Exchange CEO: “Bitcoin (BTC) Set to Reach All-Time High by End of 2019”
As most of us already know, the crypto sector is currently going through one of its roughest patches in quite some time.
However, even though the market at large seems to be exhibiting immense bearish signals, there are many big name players who have continued to back this burgeoning domain.
For example, in a recent interview with a respected media outlet, Quinone CEO, Mike Kayamori, was quoted as saying that Bitcoin will reach its:
“all-time high in the coming year”.
While a lot of people are now looking keenly towards 2019, 2018 has been an year to forget for most investors. In this regard, talking about the existing conditions within today’s alt-coin market, Kayamori blamed the lack of innovation for the ongoing slump.
However, Mike expects 2019 to be different (particularly in Japan), since the island nation has been working tirelessly to adopt new economic regulations which will allow a whole host of institutional players to enter this blossoming market.
Japan Has Been Making Some Big Moves Behind The Scenes
Even though Japan has not been making a lot of headlines on the crypto front recently, the nation has been implementing a wide array of positive changes that will help increase the adoption of cryptocurrencies within the country.
Not only that, Japan’s national regulator has also been churning out a framework so as to protect the interests of its investors (for example, last month it was reported that the Japanese Financial Services Agency (JFSA) is looking to regulate Initial Coin Offerings within the country fairly soon).
While Bitcoin has underperformed massively over the course of the past 4-8 months, Kayamori believes that “nobody” knows where the premier asset is heading financially— so it is best to disregard “so-called” expert opinions and data trends when dealing with a currency such as BTC.
With that being said, he did add:
“I don’t know. No one does. However, when you look at historical patterns and where things are going, I think the bottom is near.”
Lastly, Kayamori also mentioned that with the arrival of entities such as Fidelity Digital Asset Services and Bakkt, a new momentum seems to be building within the global crypto community at large.