Will Bitcoin Lose its Market Dominance? deVere Group CEO Nigel Green Thinks So
October 31st, 2018, marks ten years since Satoshi’s proposal of the Bitcoin blockchain. The first decade has been full of change, while the last two years were especially eventful. However, now that the market is beginning to stabilize, financial experts are starting to predict Bitcoin’s next ten years.
The World Will Adapt
Nigel Green, CEO of financial consultancy firm deVere Group, spoke about the momentous occasion:
“Next week Bitcoin, the original and still largest cryptocurrency by market capitalisation, celebrates its 10th anniversary. Bitcoin is what kick-started the crypto revolution and it has changed the way the world makes transactions, does business, and manages assets, among other things, for ever. It all began with Bitcoin.”
Green then shared his predictions on the market. The CEO believes that over the next decade, the cryptocurrency market will see an expansion of 5,000 percent, according to International Investment. And while Green still respects Bitcoin’s place in the ecosystem, he believes the asset will fall from its dominant position regarding market cap:
“However, while I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organisations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”
Green concluded his comments by essentially stating that the end of fiat could be on the horizon and that the mass adoption of cryptocurrency will play an important role in that process.
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