In only 7 days, we will celebrate a 10th anniversary of the bitcoin inception. Satoshi Nakamoto is and probably will stay unknown forever, but his masterpiece lives and grows by day.
Even though Bitcoin’s current dominance in the market is well over 50%, some investors and financial advisors don’t see this to be the case in the next 10 years.
According to the very bold forecasts from Nigel Green, founder and CEO of deVere Group, one of the world’s largest independent financial advisory organisations, Bitcoin’s influence and dominance of the cryptocurrency sector will “drastically reduce” in its second decade, with the crypto market likely to expand by “at least” 5000% in the next 10 years.
Mr Green states:
“It all began with Bitcoin. However, whilst I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade.
This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organisations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.
He goes on to predict that Bitcoin will be replaced by a superior technology with better features and solutions for the current problems Bitcoin faces.
“In addition, it is likely that Bitcoin will be hit by the superior technology, features, and problem-solutions, offered by existing and yet-to-be-released cryptocurrencies.”
Mr Green goes on to say:
“The pace of mass adoption will speed-up and the cryptocurrency market cap can reasonably be assumed to reach at least 5000 per cent above its current valuation over the next decade.”
Today the cryptocurrency market is worth more than $200 billion, so if it would to expand to the level deVere predicts, it could reach the $20 trillion mark.
He additionally told CCN that be believes XRP and Ethereum will steal the show from bitcoin. XRP is focused on integrating and improving the current system of banking and international transfers while Ethereum has the biggest ace in the sleeve in smart contracts and their increasing usage across industries.
If that is actually true, we will leave you to decide.
While the bears reign the crypto world, it is fun to see “experts” popping out of nowhere with their predictions – even though many of them are completely unproven individuals that crowned themselves with the “crypto expert” title. At the end of the day, everyone has an opinion and a right to state it but one of the main bitcoin inventions “don’t trust, verify” could be slightly modified for this case and could something like this: “don’t trust, form your own opinion”.
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