Bitcoin and virtual currencies have the potential to change many things in the financial world. Although the last year was very hard for virtual currencies and blockchain technology, 2019 could bring new opportunities for Bitcoin and cryptocurrencies to be adopted worldwide.
During a conversation with Business Insider, Kyle Samani, the managing partner of Multicoin Capital, talked about virtual currencies and the cryptocurrency market in 2019. Although he did not provide exact figures about which will be the price of Bitcoin in the future, he emphasized that adoption will continue to grow in 2019.
According to him, there are new projects that are going to attract a new mass of customers, including institutions and the retail sector. One of the examples he gave is related to the open-source project built on top of Monero. It will be facilitating the issuance and management of non-fungible tokens, including tickets, and other items. Monero (XMR) is one of the largest digital currencies and also the most popular privacy coin in the market.
Monero has recently been accepted as a means of payment for Fortnite’s merchandising. The CEO of the company emphasized how important is the growth of decentralized technologies around the world.
At the same time, Samani explained that decentralized exchanges (DEX) could see an important increase in the near future, creating a massive shift in the market. The popular crypto exchange Binance is one of the most important companies developing a decentralized exchange. Using the Binance Coin it will be offering users the possibility to trade coins without having to rely on a third party.
Furthermore, he mentioned that there will be several projects that are going to challenge Ethereum’s hegemony in the future.
Samani commented about Ethereum:
“All of the new blockchains are aiming to challenge Ethereum… I expect by the end of the year the percentage of total developers building on Ethereum will be lower than it’s right now, simply because of the competition.”
Indeed, platforms such as Tron (TRX), EOS (EOS) or Stellar (XLM) are gathering new developers and investors that are working on top of them. This would allow the market to expand and generate a more competitive landscape.
Samani shows that there is a bright future for digital assets in 2019. Although the price of most of the digital currencies fell during 2018, Bitcoin’s fundamentals remained very positive and continued to expand and improve.