Predictions are still for happier Bitcoin days ahead…
Quoine is a Japanese cryptocurrency exchange operating company, as well as a traditional fintech firm. It’s headed up by Mike Kayamori, who is the CEO of the company. And in a new interview over at Bloomberg, Kayamori has aligned himself with the many long-term investors advising people to hold their nerve during the current pressure on cryptocurrency prices.
After all, the price of Bitcoin has tumbled from nearly $20,000 at the end of 2017, to the level it finds itself now, where it’s struggling to hold a $4000 level.
Kayamori, though, reckons the current price of Bitcoin is the “technical bottom” for the cryptocurrency’s price. That there may be a little bit of wiggle room to come, but this is pretty much the low point.
He argued that with cryptocurrency miners going of business due to the low price of coins, that the “equilibrium is near”.
And after that equilibrium? He expects the price of Bitcoin to climb again. More than that, in fact. He expects it to hit the kind of record levels we were seeing a year ago. In fact, he argues that Bitcoin is likely to “surpass” its best-ever price by the end of 2019.
A helping hand is likely to be offered by Japanese regulators softening their position towards crypto after a clampdown earlier in the year. The country is expected to introduce formal regulations in due course, and that should pave the way for growing confidence amongst investors who have been put off by the recent price crash.
It’s still an ambitious price prediction that Kayamori is making. Meet back here in a year to see how he did?