Bitcoin’s Price Seems To Be Primarily Moved By “Speculation”, According To BitPay CEO

2018-12-15 20:14

Bitcoin’s Price Seems To Be Primarily Moved By “Speculation,” According To BitPay CEO

The crash that the cryptocurrency world has dealt with this year has been substantial. After almost ending the year in 2017 with a $20,000 price tag, the unfortunate fall to the $3200s range has been much more than disappointing. However, CEO Stephen Pair of BitPay believes that “speculation” is to blame for much of the demise.

In a CNBC interview today, Pair discussed how Bitcoin’s price and the evolution of blockchain technology have interacted with the current market. He was questioned about if he thought the value is over, under, or equal to what Bitcoin should be, Pair noted,

“A ‘very big’ component of Bitcoin’s price represents investors’ speculation on future usage and adoption of the technology.”

Even though he sees speculation as being one of the biggest factors for growth, volatility is still a contributor as well. This factor has led BitPay to work on products that are strong in their value, due to what they’ve seen in Bitcoin’s volatile market and prices.

The subject of Bitcoin ETFs arose, and how they could influence cryptocurrencies. In November this year, the CCO of BitPay, Sonny Singh, spoke to Bloomberg to note his predictions for next year, saying,

“I would say, if these traditional incumbents do launch their products, actually, you would see price maybe around $15,000, possibly even $20,000 by the end of next year.”

In another instance, Pair said that the Bitcoin ETF is far from the only catalyst, though it does contribute. He sides with the predictions of the CCO, saying that the value will reach that prediction at some point, if the history of last year is any indication.

As far as blockchain, Pair said, “Blockchain is a database that people use to engage one another.” Still, the only place that blockchain has become the traditional format for a database is cryptocurrency so far. Based on his expertise, Pair believes that it will only take about 3-5 years before blockchain is seen as a mainstream technology that is used in the everyday lives of consumers, even outside of cryptocurrency.

The only way to make these predications possible is for fiat currencies, like “dollars and euros” to be issued with the technology. Expanding, he said,

“If you go to a restaurant or retail organizations, everybody expects the stores should accept payment in the blockchain, but in order for blockchain to reach masses, it’s not just about Bitcoin. It’s about issuing dollars or euros on the blockchain. It shouldn’t just be the payment denominated in terms of bitcoin, but all digital assets can be used as a payment.”

Pair took the time to announce that these methods of progressing industry are exactly the actions that BitPay is taking to build up their platform, rich with mainstream features.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ceocoin (CEO) íà Currencies.ru

$ 0.00304614 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0023147 (31.6%)

ceo price bitcoin bitpay year seems according

ceo price → Ðåçóëüòàòîâ: 126


Ôîòî:

Binance Continues to BUIDL as the Platform’s Mobile Trading App Now Has Price Alerts

The CEO of Binance, Changpeng Zhao, has always encouraged crypto enthusiasts and developers to continue building on the blockchain rather than concentrating on the price of Bitcoin (BTC). His words have become more relevant especially with the current bear market that has seen the crypto markets continue to decline with many crypto traders wondering when […] The post Binance Continues to BUIDL as the Platform’s Mobile Trading App Now Has Price Alerts appeared first on Ethereum World News.

2018-12-15 23:40


Bitcoin Price Analysis: BTC is a “Melting Ice Cube” Says CEO

Latest Bitcoin News Like Bitcoin prices shifting, so is Bill Gates-the founder of Microsoft who back in 2014 said Bitcoin is “used to buy drugs like synthetic opioid fentanyl” and the “anonymity of digital currencies meant they were linked to terrorist funding and money laundering” to admitting how transformational Bitcoin and cryptocurrencies have been especially.

2018-12-7 06:00


QUOINE CEO Believes Bitcoin Will Sky Rocket To All Time High BTC Prices In Next 12 Months

With the anniversary of Bitcoin’s most substantial price coming soon, analysts and other market experts are constantly predicting what the digital asset will do next. Mike Kayamori, the CEO of QUOINE, believes he knows exactly the pattern that Bitcoin is on, though he doesn’t see the trajectory mimicking last year’s spike until the end of […]

2018-12-5 08:02


Ôîòî:

Meet The Man Who’s Building a Commission-Free ‘BitMEX’ [Interview]

Bitcoinist spoke with Adam Todd, CEO of Digitex Futures, a trading platform that aims to become a commission-free, non-custodial ‘BitMEX’ for cryptocurrencies built on Ethereum.   Bitcoinist: What is Digitex Futures? What are you doing that’s different/new? Can you give us your elevator pitch? Adam Todd: Digitex Futures is a commission-free, non-custodial futures exchange.

2018-11-28 07:00


Ôîòî:

Vinny Lingham Warns Of ‘At Least’ 3-6 Months Of Bitcoin Price Under $5K

Civic CEO Vinny Lingham forecast the Bitcoin price to remain below $5000 for at least three to six months this week as sentiment throughout the industry takes a beating. $3K Bitcoin Price ‘Could Go’ Speaking in an interview with CNBC November 26, Lingham, whose Civic raised $33 million in an ICO last year but now trades below its original market cap, joined analysts such as Tone Vays in delivering a more bearish mid-term outlook for Read More The post Vinny Lingham Warns Of ‘At Least’ 3-6 Months Of Bitcoin Price Under $5K appeared first on Bitcoinist.com.

2018-11-27 13:00


Ôîòî:

Overstock Moves up by 26 Percent after CEO Revealed the Company Will Focus Solely on Crypto From February

Overstock.com Inc. experienced a huge surge in interest from investors as the price of their shares went up by 26 percent in anticipation of their next big move. The Wall Street Journal recently reported that Overstock CEO Patrick Byrne is planning to sell the retail wing of the company to focus exclusively on its cryptocurrency businesses […] Overstock Moves up by 26 Percent after CEO Revealed the Company Will Focus Solely on Crypto From February was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-11-26 20:59


Blockstream Chief Adam Back: Bitcoin (BTC) Price At $500,000 Is Plausible, Suggests Future Gold Flippening

Adam Back co-founder and CEO of Blockstream, seems very bullish about the future of Bitcoin (BTC). He said that it might be possible for Bitcoin to reach $500,000 dollars in the future. Since the beginning of the year, Bitcoin and other virtual currencies are in a bear trend that has severely affected the whole cryptocurrency […]

2018-11-22 18:13


Ôîòî:

US ‘Investigating’ If Tether, Bitfinex ‘Illegally Moved’ Bitcoin Price to $20K

Bitcoin’s latest price plunge has coincided with fresh scrutiny of stablecoin Tether and exchange Bitfinex almost a year after both received subpoenas from US authorities. DoJ ‘Homing In’ On Tether, Bitfinex As Bloomberg reports November 20 citing “three people familiar with the matter,” Tether and Bitfinex, which share a CEO, are under suspicion of market manipulation.

2018-11-21 23:00


Bitcoin Price Set for Breathtaking Moonshot on the Back of Rising U.S. Debt, Says ShapeShift CEO Erik Voorhees

Erik Voorhees believes the price of Bitcoin will increase on the back of skyrocketing U. S. debt. The Chief Executive Officer of ShapeShift – a Swiss-based cryptocurrency exchange platform, believes that with rising debt profile, investors will have no choice but to invest in virtual currencies leading to the inevitable rise in the price of Bitcoin.

2018-11-12 18:23


Ôîòî:

Markets Roundup: Spot BTC Markets Shrug CME Settlement, Pantera CEO on Cyclical Sentiment

In the cryptocurrency markets, the recent settlement of CME futures contracts appears to have exerted little impact on spot BTC prices, the CEO of Pantera Capital has shared his outlook on initial coin offerings, and October has proven to be the least volatile month of 2018, with only a single day producing a price swing […] The post Markets Roundup: Spot BTC Markets Shrug CME Settlement, Pantera CEO on Cyclical Sentiment appeared first on Bitcoin News.

2018-10-29 00:05