Bloomberg’s Joe Weisenthal and BitPay’s chief commercial officer, Sonny Singh, sat down with Emily Chang to discuss the current state of the cryptocurrency market on “Bloomberg Technology.”
Here’s what they had to say.
Have We Bottomed?
For whatever reason, some legitimate and self-professed cryptocurrency experts believe the market has bottomed — despite Bitcoin currently hanging just above the critical support level of $6,000.
Regarding an industry exodus, it is true that there are still more projects and altcoins that need to be flushed out completely. Many altcoin projects are still incredibly overvalued, and still more need to die completely to separate the wheat from the chaff.
Next Year Will Be Better
This year has been rough for cryptocurrencies. There’s no denying it — but that doesn’t mean 2019 won’t be better.
BitPay’s Singh claims next year will see all of those much-discussed developments actually come into existence.
At the very least, things can’t get much worse in 2019 than they’ve been this year!
What do you think of Weisenthal’s and Singh’s opinions? Will 2019 be better? Let us know your opinions in the comments below!