CoinShares CEO: Bitcoin Price Can Hit Previous Highs After ‘Structure’ Improves
On the May 16, UK digital currency speculation items and research supplier CoinShares think that Bitcoin will hit past highs after people work on the ecosystem.
Danny Masters believes that cryptocurrency will have a good future. Masters ran New York energy trading business for six years and he has enough experience to be able to predict the cryptomarket.
Addressing CNBC on the network’s Fast Money section, Danny Masters distinguished a few changes which would need to happen with the aim for Bitcoin to see the $20,000 price tag again.
He told presenters that this structure needs to keep on building.
“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. We need to do more mature work around the ICOs… and just give investors more clarity, better expectations, more transparency.”
Masters was talking as the Consensus 2018 came to a close in New York. The occasion got feedback this year after Bitcoin industry figures said it concentrated too much on blockchain-based tokens and “buzzwords” rather than analyzing progress.
Bitcoin’s main developer Johnathan Corgan described the atmosphere as “like all the popular kids (Blockchain) are publicly bashing the geeks and nerds (Bitcoin) while privately trying to copy their homework.”
Outside, traders were baffled by the bullish price estimates on the back of the conference, for example, the 70% increases from Fundstrat Global Advisors co-founder Tom Lee, so far failing to work out as expected.
For Masters, a longer-term first-mover advantage is a conclusive part of Bitcoin.
“Bitcoin is almost… a reserve currency in crypto; the thing that everybody goes back to because it’s got the infrastructure because it’s got the most network connections, the most exchanges connections – that’s sort of a bedrock,” he included.
