Reddit Co-Founder Alexis Ohanian Stands By His $20,000 Bitcoin Prediction

Reddit Co-Founder Alexis Ohanian Stands By His $20,000 Bitcoin Prediction

One of the Reddit founders and a constitutor of a venture capital firm Initialized Capital – Alexis Ohanian – confirmed he is standing by his bullish price 2018 forecasts regarding bitcoin and ether.

According to his expectations, BTC might trade at $20,000, just like it did last year in December. ETH, in its turn, might go as high as to $1,500, a margin that the coin has never seen (ether’s ever-maximum was $1,389 in January 2018).

Ohanian Doesn’t Give Up On His Predictions

As bitcoin continued rallying this week, climbing over $8,000, Alexis Ohanian came out to support the coin. Talking to CNBC journalists on July 24, he asserted that bitcoin is definitely the most “robust” coin and one of the best shreds of evidence that cyber assets can store value. Ohanian emphasized the latter feature as the more significant one in view of political and pecuniary ambiguity.

The reason why Ohanian still believes in bitcoin is that it keeps soaring despite volatility and thanks to the latest technological advancements. They have helped bitcoin’s core – blockchain – to ease its scalability issue.

Contemplating on the possibility for bitcoin to lose its power, Reddit’s “father” said it is likely that on its basis a new internet will be built. In the meantime, bitcoin’s capability of storing value can fight the financial inequity and encourage inclusion among people who have access to the internet.

Ohanian added that bitcoin is swiftly turning into a virulent alternative to public currencies thanks to the increasing trustworthiness. He also said cryptos, in general, are showing revolutionary site, yet he made it clear he isn’t calling the world to put an end to fiat money.

Initialized Capital’s Perspectives

The firm’s founder underscored that Initialized Capital is betting on “the picks and shovels” of the arising niche in view of crypto-speculations.

Image Source: Flickr

Robinhood Crypto and Libertyx Get Licenses From New York State Regulator
According to reports, The New York State Department of Financial Services has issued licenses to crypto-players Robinhood Crypto and Libertyx...
Crypto-Mogul McAfee Admits Not Paying Taxes for 8 Years, Flees the US
John McAfee, a controversial cryptocurrency personality, has fled the US upon being indicted by the country’s tax authorities. The American...
Holds 100 Cryptos, Bluetooth-Enabled: Ledger Presents New Hardware Wallet
As the entire crypto-market is struggling to recover, led by news.Bitcoin.com, Ledger, a hardware wallet producer, has...
In 2018 BTC «Died» 90 Times, While There Were 1,000 «Dead» Altcoins
2018 was a true challenge for bitcoin and its pals. It had many downs, which media and naysayers noted a lot. Many times they designated bitcoin...
Report: Survey Shows People Use Cryptos More For Remittances
People tend to send remittances using bitcoin and its brethren more shows new research by a BLT-centered research company. Such a spike can be...
Unknown Dev Mined Extra 2 Million Bitcoin Private Units, Secretly
Around 2 million coins of Bitcoin Private — an altcoin which bears the name of the «big daddy» — has been premined suspiciously when there was...
Facebook May Issue a Stablecoin to Send Money on WhatsApp — Bloomberg
Has the world just stopped discussing Facebook hiring five blockchain specialists as another news has arrived. Relying on anonymous sources...
«Why Didn’t I Buy it Then?»: As BTC’s $3,700, Experts Ponder on Its Future
As bitcoin has just celebrated the anniversary of its almost $20,000 record, the world does not stop talking about it. After a terrifying dip, on...
Final G-20 Summit Declaration Talks About Crypto-Regulation
G-20 countries might initiate a regulatory oversight regarding cyber-assets. This is an idea they incorporated in a final declaration signed upon the...
Here’s Why Crypto-Market Shed $700 bln Since January
The entire market of cyber-coins lost almost $700 billion since the beginning of 2018. At present, the crypto-ecosystem is going through a massive...