On December 3 bitcoin saw another low of $3,800, one of the lowest rates within the past few weeks. On November 14, the most valuable cyber-coin in the world plummeted below $6,300, and since then has not recovered. Known experts, perhaps in fear, nearly halved their predictions on BTC’s price by the end of the year, naysayers started prophesying «the end» of the «big daddy.»
However, things might still get better, believes Mike Kayamori, the top exec of Japanese fintech firm Quoine. He opines that BTC will still transcend its all-time records. But that will happen, Kayamori predicted, only by the end of the next year.
Kayamori Implies Bitcoin Will Reach $20,000 by the End of 2019
In a recent conversation with Bloomberg journalist, Mike Kayamori unveiled he anticipates another virtual money market «sentiment» and «momentum» to take place after the New Year holidays. While commenting, he added there was nothing novel, «no catalyst» would be new to make the market recover.
The head of Quoine, which also functions as a crypto-exchange platform, also said bitcoin has not seen its bottom yet, but it will soon.
“[…] when you look at historical [patterns] and where things are going, I think the bottom is near,” explained Kayamori.
The CEO underpinned his suggestion by singling out the tension against BTC miners. Many of them had to halt the «production» of bitcoins because of the fall which reduces revenues. In particular, he said if «enough miners» leave the industry, it means that the poise is near.