Renewed Bitcoin Interest is Back in Past Two Months, JPM Coin is XRP Challenger: Ikigai Asset Founder
“I think we have definitely seen a renewed interest in the last two months,” says Ikigai Asset Management Founder Travis Kling on Bitcoin reaching $5000.
The market saw a bullish rise in a single week, and this left a big impact in the crypto market. However, the volatility of the market is always seen as a topic to debate among cryptocurrency experts, and they claim that BTC is returning to its normal bullish streak.
On this note, the Founder and Chief Investment Officer [CIO] of Ikigai Asset Management talked on the increase in the price of Bitcoin, and also the current volatility in the market with Yahoo! Finance.
Highlight: “I think we have definitely seen a renewed interest in the last two months,” says Ikigai Asset Management Founder Travis Kling on $BTC topping $5,000. https://t.co/ohsBg29IFZ pic.twitter.com/OUg8dia0Gz
— Yahoo Finance (@YahooFinance) April 2, 2019
Kling talked on the renewed interest in the crypto space by institutional investors over the past two months which had a positive effect on the price of cryptocurrencies in general. He said: “I think we have definitely seen a renewed interest in the last two months.”
He also stated:
“Despite the entry of several institutional players into the market, the world of cryptocurrencies is still dominated by individuals. We are at the top of the second innings, and when you look at things from an overall spectrum, the world is just understanding the technology. There is just so much more to go in terms of what we can achieve in the space.”
When asked on the bearish trend that occurred for some time now, Kling said that the likelihood seems diminished in the past few days; he also testified how safe it is to say that the bear market is over.
“We should have the never say never attitude in the cryptocurrency space. It would require a massive shift in appetite for risky investments. This is also shown by the renewed interest in the field over the past two months compared to Q4 2018 and January 2019.”
The further discussions were centered on the rise of altcoins such as XRP, EOS, etc., which caused the majority of the digital asset to move up on the price charts. However, Kling stated that Bitcoin is the most captivating cryptocurrency among the rest and that investors shouldn’t move around deep-diving in other small cryptocurrencies. In his words:
“On a risk-adjusted basis, I would say that Bitcoin and even EOS makes sense. I won’t take Litecoin’s increase as an indication of the spike.” He further emphasized that XRP is also captivating.
When Kling was asked to talk on the likelihood of XRP and Ripple being foremost, he said that XRP is confronted by other financial institutions such as JPMorgan’s JPM Coin. In his opinion,
“JPM Coin is like the value proposition for Ripple. Ripple will try as much as they can to show that XRP has fundamental value, but when you have banks like JP Morgan coming into space, it becomes difficult. There are some banks in Japan too that are working on creating internal private permission fewer coins that are aimed to challenge XRP’s use cases.”
Not too long ago, crypto-news online surfaced that JPMorgan, the largest bank in the U.S, wants to create a ground-breaking cross-border payment solution.