BitPay CCO Predicts Altcoins to ‘Never Come Back,’ Bitcoin to ‘Rebound’ in 2019


#1

The Chief Commercial Officer of global crypto payment processor BitPay said that altcoins “will never come back,” while Bitcoin (BTC) will “rebound” in 2019, in an interview with Bloomberg September 12.

The CCO of BitPay Sonny Singh said that cryptocurrency markets are now on the threshold of a new stage of progress, which requires a certain “defining moment,” or a “catalyst.” According to Singh, that “defining moment” will come when big institutional investors, such as Goldman Sachsand BlackRock, “become real” in 2019.

“But next year you’ll see the talk of the big entrants become real, where you’ll see Goldman does launch a trading desk, Fidelity does launch a Bitcoin product, Square offers Bitcoin processing for merchants, BlackRock launches an ETF… So all that will become real, and you’ll see some adoption actually. And then […] the price [will bounce] back up again.”

However, while predicting that Bitcoin “will rebound next year,” Singh was mostly bearish on altcoins. Singh said that altcoins “will never come back” to their previous levels, stating that firms like Fidelity and BlackRock are “not going to launch altcoin products, they’re going to launch Bitcoin products.”

Talking specifically about BitPay, the company’s CCO claimed that the they have “never been more bullish” on Bitcoin, saying the industry is going “full-speed ahead,” with a growing number of partnerships and new hires.

In this regard, BitPay was recently integrated by luxury auto retailer Post Oak Motor Cars to enable the U.S. dealership to accept BTC and Bitcoin Cash (BCH) as payment for Rolls-Royce, Bentley and Bugatti.

Concerning new “big entrants” to the industry, anonymous sources today revealed that U.S. banking giant Morgan Stanley is planning to offer clients Bitcoin trade swaps, which would enable them to trade crypto derivatives without holding any of the cryptocurrency.

ctto(source): https://cointelegraph.com/news/bitpay-cco-predicts-altcoins-to-never-come-back-bitcoin-to-rebound-in-2019

I have read this article. Why did he think so? It’s safe to say, that many altcoins will eventually die if no attended by the project team. But saying this, I do not think so. We are all moving forward, towards an innovative edge, which will be of higher value than we are today.

Do you believe this?


#2

Personally, I don’t believe it. Everyone is expert in crypto currency now and giving out their advices for free.

There were experts too in 2012-2013 who sold their bitcoins for meagre few dollars thinking that this is as high as it can get and they had made a good profits but they were the ones crying out loud in 2017.

Maybe, maybe altcoins won’t come back but we don’t know that for sure and I won’t gamble on something which may or may not happen. If I believe a project is good for me, I’m gonna invest in that.


#3

Yeah, me too! I am done believing what I hear from most of them. They sway our decision making and in the end they do that to manipulate us and the prices. FUDDING everywhere so that everyone can leave but them. And they will be majority holders, manipulating every price movement. We should do our research in every project. And be it noted that, it will not be forever this way, we all need and wanted some changes that’s why there are a lot of projects out there, trying to prove something better. They just need more time and better partnerships and strong support. Bitcoin might have started this digital revolution but it does not mean it will always be bitcoin. Look how facebook dethroned the likes of friendster. In time, we will know about this, just hang in tight!


#4

Nothing will remain on top forever. Examples are Nokia was at top but now you know where it stands. Yahoo was the leader and now you compare that with Google. Orkut was really famous and now see what facebook has done to it. So what I’m trying to say that anything is possible. If there ar people working really very hard for some project, that project will succeed, maybe sooner or maybe later. So start believing in your research and don’t believe anything you hear from experts on news blindly.