In a recent Forbes post, Clem Chambers, the chief executive of ADVFN and a finance author, explained why he thinks that crypto winter is over and now Bitcoin has only one way to go – Up. He explains that among other stable coins, money flows into crypto is what sustains and raises prices. As chambers explain, for the current inflationary Bitcoin may experience positive flow, as new fiat has to enter to meet with the increasing demand in the crypto. The increase in incoming fiat isn’t the only bullish catalyst, however. He further added that when the need arises for capital flight and store of value, Bitcoin will begin to share a crown with gold
He insists that Bitcoin is affecting the gold market. If Bitcoin eats up even 20% of gold’s market share, Bitcoin may reach high as $20,000, even if use cases other than being a store of value for the asset aren’t’ developed. Despite these predictions, is this really going to happen? According to Tom Lee, the winder is, by many measures, done and dusted. Recently, Civic chief executive Vinny Lingham started that if Bitcoin increase or decrease, so do the altcoins. He explains that if Bitcoin participates in a sustainable bull run, one which is actually backed by industry developments rather than hype. Other digital coins may join with Bitcoin as well.
In the end, does it matter to the industry? In the eyes of the industry, the price doesn’t matter much. Underneath, the industry is working hard to improve the technology and in spite of the unstable price action seen throughout 2018, the underlying crypto and blockchain industry has continued to improve. Bitcoin and digital crypto enthusiast may argue that last year was really good for the technology. It has seen some really good advancement which will help to gain investor’s interest in Bitcoin this year.