Bitcoin will Grow this Year also, but This is What is Going to Happen

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CoinShares Chairman Predicts Bitcoin will Raise This Year also and What Happens this Time

CoinShares Chairman Danny Masters predicted Bitcoin would surge this year as well and it will also reach its previous highs.

But here’s what should be happened first: Better structures and a life cycle post initial coin offerings (ICOs)  the fundraising process which helps while launching new cryptocurrencies.

Master said to CNBC:

“We need to see this [cryptocurrency] structure continue to build; we need to see the custody solutions come and be provided. We need indices, and we need performance measures where we can actually start to understand what we’re talking about and measure our performance.”

He Included:

“We need to do more mature work around the ICOs, so that post ICO we have a token life cycle. And just give investors more clarity, better expectations, more transparency.”

CoinShares, an investment firm in cryptocurrency, which introduced the world’s first publicly traded bitcoin and ethereum fund.

Investors were confident that Blockchain Week New York and Monday’s Consensus event would be helping grow the large-cap coin. But bitcoin has underperformed, down 5 percent since Monday.

He pointed out that before three years the number of Bitcoin users or enthusiasts was very less. But this week anyhow, more than eight thousand people showed up for Blockchain Week New York.

He stated that bitcoin’s life cycle “is still very early.”

He included:

“In derivatives, indices, pricing models and so on that go on around [building a financial system.] We’re nowhere near that part yet. We’re not even at the part yet where I’d say institutional investors even started in commodities. Because these things indexation, custody and so on aren’t there to bring in those bigger people just yet.”

Suzat Fernandes

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