An interview by Alyona Karpinskaya
Interviewing: Norbert Goffa
Q: Currently, everybody is talking about the skyrocketing price of Bitcoin. Did you expect that Bitcoin would reach its all-time high by the end of 2020?
A: Frankly, I did not. I expected it to strengthen more by the end of the year, but nobody figured that it would happen at this pace. We analyze the forecasts a lot about the possible change in Bitcoin’s price with our team, but this pace was really surprising. For my part, I refrain from forecasts and I do not regard as realistic the theories which are forecasting a hundred thousand dollar prognosis within a relatively short time interval. I figure that the point is not in predicting exact prices, but rather in forecasting tendencies. I think that excessively rapid growth also has its disadvantages, just look at the present market.
Since everything is defined by Bitcoin, it is necessary to review the negative effects which are caused by steep price increases. Of course, who wouldn’t be happy to have their Bitcoin be worth more and more? Naturally, it is in everybody’s interest, but, at the same time, other effects should be paid attention to, since Bitcoin has an unmitigated dominancy on the cryptocurrency market, and because of this – a strong Bitcoin may not serve the other participants of the market. The ones who are surely very pleased are the miners, since their charges change for the better with this price.
Q: You referred to altcoins in the previous question. Could you elaborate on that a bit more to explain how you see market trends?
A: Whenever Bitcoin strengthens, all the altcoins, which cannot keep up the pace, weaken compared to Bitcoin. Whenever Bitcoin weakens, the altcoins typically lose a lot more from their value, since they are already behind compared to Bitcoin. As a specific example, if we take a look at the all-time high price of Ripple or Ethereum, then we see that they are very far from the prices they had previously reached. Bitcoin, however, already exceeded that price, so we can state that everybody suffered a grievous defeat against Bitcoin.
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin-based approach. I do not mean that it is a wrong approach, since from a speculative point of view, one token could be enough for success. If I generate 1 million tokens, which is the maximum of my project’s supply, then I could easily give 250,000 to an exchange in order to make it launch the project. This is what I was referring to in the previous question.
This does not mean that your own https://www.ILCoincrypto.com/
About Alyona Karpinskaya:
Founder of the PR-Blockchain agency, technical writer, journalist and publicist.