Bitcoin is banking over a value of $10,000. This was when it was being written, ShapeShift, a crypto exchange and its stakeholders view the biggest crypto by total capitalization, reaching $20,000 by late 2019.
“I think we’ll be over $20k by year-end, and 2020 will be the next bubble cycle (regardless of halving). However, I make lots of price predictions because it’s fun, and I’m usually wrong.”
Erik Voorhees spoke about his bullish views on Bitcoin. He also insists people to buy some Bitcoins looking at its promising future. He also recommends businesses to hold roles longer.
“Crypto is a long-term project, and always extremely speculative. Everyone should own some, and they should assume it’ll go to zero. When they’re comfortable with that, then they’re ready.”
He also said about the world being a poorer place if it were to be without digital currencies like bitcoin. He insisted that Bitcoin pioneers and evangelists to extend rooting beyond just and pay attention to the behaviors of altcoins too. Although he did not specifically list these bitcoins and spoke that “there are at least 5-10 other than Bitcoin which are worth attention.”
Shapeshift is a crypto firm offers instant virtual currency transactions without wanting users to make a new account. Users just need to embed in their hardware wallet and that’s it. Doing away with the overhead of creating an account transformed the situation with the inception of a membership framework that asks only a basic set of information about the customers. The digital currency exchange of non-custody supports the Foundation of Interwallet Operability principles that are anticipated to be consolidated with the standard of utility layer for crypto. Hence Voorhees verbosity does not come out as a surprise here.
He said, “Shapeshift doesn’t do custody, the owner of the crypto asset is solely responsible. But isn’t the perceived complexity of using a hardware wallet one of the many things that has to be addressed as part of the wider usability drive to spur adoption?”
Although, given that regulations of the global Financial Action Task Force have come out to be fruitful, the Shapeshift’s update was basically a necessity and a wise move by the authorities, although inviting criticism from the customers. The chief, Voorhees spoke last month about implementing KYC and that it got a not so positive response with the exchange’s customer base plunged the trading volumes.
But while the US markets get more centralized, Voorhees said that the amount of US customers had risen to more than half in its user base.