Is $50,000 Bitcoin Possible In 2018? (BitMex CEO says Yes)
The CEO of Bitmex was just on CNBC to discuss Bitcoin. Great, short interview that you can watch below.
One of the things we all need to understand about bitcoin and other digital currencies is it's still brand new. I like the points made by the BitMex CEO in this panel. He says that Asian countries are more adapted to using digital currencies. Here in the US, we have a more established banking system.
Our banking system provides so much, insurance and assurance that it makes Digital assets look risky.
So this is much of where the 'gap' is right now. In lesser developed nations, they are much more open to using assets like these to trade. Otherwise it's much more difficult for them to trade their goods and services. (as their currency is not as reliable) ....
The more you understand this, the less the market volatility will scare you. You'll embrace there is room for all of this to grow. It could even possibly reach $50,000 ... some day. Will it reach by the end of 2018?
The CEO from BitMex says yea - but admits he's got bias. If it goes way up, he benefits as people will be buying. If people sell all theirs off due to it dropping, he'll make money on those trades too. Smart business for him to be in.
So while he says yes, he truly does not know. That is important to keep in mind in this space. The Gentlemen of Crypto said that today on their show; no one knows the future of this bitcoin space. All any of us can do, is attempt to understand where trends are moving.