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

post image

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).

Our top trading bots

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

Ripple Sold Two Times More XRP Coins in Q3 Than in Q2
Ripple is confidently making money. During the third quarter of 2018 Ripple Labs, Inc. gained two times more in sales of XRP coins than within the previous...
OKCoin Founder Was Detained in China Amid Fraud Allegations
The founding father of the second largest cyber-money bourse on the planet OKCoin was reportedly detained on the occasion of suspected crypto-scam. According...
Bitcoin Might Soon Drop to $6,000, Says Fundstrat’s Technician
Bitcoin might soon see another considerable connection. According to a Fundstrat’s technician bitcoin is ‘living on the edge.’ If it sustains its $7,500+...
Ethereum Can Lead Blockchain to The Success of The Internet, Fintech CEO Says
Ethereum might be a driver for the wider adoption of both blockchain and other cyber-assets.This network can lead to such a wide prevalence of the latter...
The First Private Ethereum-Based Asset EXM to Launch With No ICO
A new Ethereum fork is going to be executed on July 4. The novel project called Exereum claims to be the first private Exereum’s site, its team is aspiring...
Square Got License to Trade Cryptos in New York, Letting Bitcoin Soar
Cash App, a person-to-person payments service, can now be used by New Yorkers to trade cyber coins. The app is a small business service provided by a financial...
Tech Investor Palihapitiya Said Buffett’s Wrong, Despite Being His ‘Disciple’
At the end of April, Yahoo Finance published an interview with Warren Buffett, in which the known investment master blasted bitcoin. The Oracle of Omaha...
Bill Gates Accused Cryptos of People’s Deaths, Related to Drug Sells
One of the wealthiest people on the planet, Microsoft Corporation top patron and opinion leader on the sphere of technologies Bill Gates believes that cyber...
Bitcoin Cash Adopted by Keepkay Wallet & Two Asian Exchanges
Despite slight declines within the past month, bitcoin cash keeps winning the hearts of crypto enthusiasts. More businesses adopt the coin, giving its clients...
The Major Bank in Japan to Launch Own Crypto Exchange and Coin
Not likewise in South Korea or China, cryptocurrency trading is a bandwagon in Japan. Recently the country’s major bank Mitsubishi UFJ Financial Group Inc...
Bitcoin At Premium: How BTC Prospers in Africa
Years ago media predicted the rise of bitcoin in the emerging-market countries. Unsurprisingly, that’s what is happening today. Bitcoin and its brethren...
Cryptobanks vs. Centralized Rivals: Who Will Win?
Several analysts have already expressed their belief concerning the hopeless future for traditional banks and payment systems once bitcoin and its brethren...
Charles Schwab’s Strategist Dare Not to Compare Bitcoin to Common Bubbles
This year, full of highs and lows in cryptocurrency market, according to several analysts, bitcoin plunged by 30% around six times and each time it managed...
How Governments Treat ICO: 5 Common Positions
What authorities in different countries think about the boom of initial placements of tokens. At different times governments around the world haunted the...
7 Steps to Protect Cryptocurrency Assets
Now you can protect cryptocurrency assets much better than at the beginning of the decade. Nevertheless, investors still face many risks. New fraud schemes...