Chief commercial Director BitPay Sonny Singh said that “altcoins will never return” to its former price. At the same time, Bitcoin needs to beat your price high in 2019. This writes Cointelegraph.
Why you should not buy altcoins
Singh said that now the stock market is at a new stage of its development. To move forward we need the crypt “tipping point” or “catalyst”. Real change will only happen when large institutional investors like Goldman Sachs and BlackRock officially enter the crypt in 2019.
Next year big money in the stock market will become a reality. Goldman Sachs will launch its own trading platform, Fidelity will offer new products for institutional investors, and the Square will start to work with merchants around the world. Cryptocurrencies do will be recognized at the highest level and the price of Bitcoin will achieve a new record.
Singh’s forecast is not for altcoins. In his opinion, all the other coins “will never return” to its record price. Referred to large firms “are not going to create the infrastructure around the rest of the cryptocurrencies”.
BitPay CCO very optimistic about the future of the crypts. Despite the recent difficulties, the company intends to expand and has entered into a partnership with the dealership Post Oak Motor Cars. The retailer now accepts Bitcoin and Bitcoin Cash as payment for the luxury car Rolls-Royce, Bentley and Bugatti.
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. THERE’S MORE INTERESTING NEWS.