The Current cryptocurrency “crash” that is the topic of 2018 is just a “bump in the road,” according to a fund executive. The UK fund executive stated this during the Crypto Summit in London on Friday, Bloomberg report.
Funds positive for long-term cryptocurrency growth
The summit in London took place at the end of the bloodiest year yet for the crypto market. More than $700 billion has disappeared during the year, and the panelists look ahead to next year.
Cryptocurrencies are currently rebounding, bitcoin from the new low of $3,212, created on December 7th. Even though 2018 is a nightmare for speculators, funds are positive for long-term growth and say that 2018 is just a “bump in the road.”
No one sees an immediate rebound in crypto prices even though bitcoin has lost more than 80 percent of its value. James Bevan, chief investment officer at CCLA Investment Management, said on a panel:
“I don’t regard this as an existential crisis, I just regard it as a bump in the road, and institutional investors have had plenty of bumps in the road in conventional currencies and transaction systems.”
There is much to look forward to in the coming years according to the panelists.
What will the future for cryptocurrencies hold?
When looking at the future for cryptocurrencies and blockchain, it will grow and include many different aspects that are not there yet. Aspects such as greater regulation, more involvement from institutions, lower volatility and greater integration with traditional assets, according to the panelists.
A lot of things are happening even though the price is falling. Two areas of growth for the industry will come from low-volatility tokens known as stable coins and so-called security tokens. Security tokens are digital contracts that represent ownership of assets such as real estate or stocks.
Lewis Fellas, chief investment officer at crypto fund Bletchley Park Asset Management, argued that stable coins still has plenty of room to grow. At the beginning of the year, not many people knew about stable coins. Now, on the other hand, there are now over 120 stable coin projects developing. Fellas added:
“I think we’re just getting started. I can see a huge expansion.”
However the market develops, regulation will be a constant and growing feature of the digital assets world in 2019. That could be good news for entrepreneurs and business owners wanting governments to confer legitimacy on an industry rife with scams and manipulation.
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Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.
