$ 50K Commentary for Bitcoin Compared to Gold

0

Vijay Ayyar and Matt Long announced that the bitcoin price could continue to rise, based on the new trends seen in the cryptocurrency industry. Speaking to Bloomberg, the pair stated that the future price of bitcoin could be much higher than today.

Two experts of the cryptocurrency world came together in the program organized by Bloomberg. Vijay Ayyar, who runs Luno Global’s Asia Pacific branch, and Matt Long, OSL’s distribution officer in Hong Kong; They made predictions about how Bitcoin will pass 2021 and the coming dates.

Bitcoin price may exceed 50 thousand dollars

The BTC / USD pair broke a record, reaching as high as $ 42,000 this year. Vijay Ayyar said that he could be located in a much higher region in the coming years. Continuing its development since the first day of its emergence, bitcoin began to be compared with gold. Ayyar used the following words about the bitcoin price:

“The closest thing you can compare Bitcoin to is gold. Gold has a trillions of dollars in market value, and if bitcoin manages to buy even some of it, the price would be much higher than $ 50,000. … My advice to people is not to make quarterly, six-month accounts. Bitcoin will continue to get a share of the gold market for the next three, five, ten years, and you can imagine how much the price will be. ”

Statements like this resonated in Matt Long’s statements. It was used by Asian traders for the first few years after Bitcoin was invented. Long said that this trend is starting to change and it is now seen as digital gold. It was stated that mutual funds started to include bitcoin in their baskets, and this could raise it in terms of price.

What are the two main risks in the industry this year?

Some factors are thought to pose a risk to the development and maturation of cryptocurrencies. Vijay Ayyar on the two main developments; He cited Tether’s investigation in New York and the growth in the DeFi market.

It is possible that the Tether investigation conducted by the New York Attorney General’s Office will have negative consequences. While Ayyar defined this as one of the two biggest risks, he stated that he was “not as worried as it used to be” about Tether.

Ayyar said that another risk factor is related to DeFi platforms. It was stated that DeFi projects are based on each other (such as data oracle, credit maker), and if an error occurs in a widely used smart contract, this can have major effects.

LEAVE A REPLY

Please enter your comment!
Please enter your name here