“Cryptocurrency hasn’t even reached the starting line yet,” Mr. Ran Ney-Ner, a leading crypto trader and investor at CNBC Africa, told CNBC in an interview. He has been monitoring the price of bitcoin since last year.
Bitcoin, one of the most popular digital currencies, fell sharply in price last week amid concerns about regulatory bans and possible price controls. Bitcoin lost $125 billion in total market capitalization in a week. But even as volatility returns to the market, Ran Ney-Ner believes Bitcoin will rise to $20,000 in value in 2018.
The rise in the price of bitcoin on the market is partly due to the fact that many entered the market without understanding the technology, and then, when the price began to fall, they could not understand what was happening and why they got involved in it at all. Now that more people are interested in and understand the concept of the cryptocurrency market, the market is starting to stabilize a little. Now the price of bitcoin is frozen, it will remain at this level for some time, and then it will begin to rise again.
Mr. Ney-Ner, whose own portfolio includes more than 40 types of cryptocurrency, considers cryptocurrency a highly liquid asset whose time has not yet come.
“Yes, this is a highly liquid asset, but this is a new type of asset, and it is not yet generally accepted in the market, when bitcoin and other types of cryptocurrencies become mainstream, then they will become a universal highly liquid asset. I consider cryptocurrency to be digital gold, a digital asset, but so far this asset has not even come close to the starting line. The racing hasn't started yet."
According to https://www.cnbc.com
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