Mike Kayamori, the CEO of cryptocurrency exchange Quoine, told Bloomberg Markets in an interview that he believes that Bitcoin will reclaim or surpass its all-time high by the end of 2019.
Kayamori further stated that, even though he thinks that the market won't be showing any significant bullish corrections until the end of this year, the bottom for Bitcoin is close.
'When you look at historical patterns and where things are going, I think the bottom is near.'
Kayaomori seems hopeful that once the new year has taken off, a lot of catalysts could influence a sustainable rally in the Bitcoin market.
'Japanese regulators are starting to open up again. They are going to approve new exchanges. They are going to approve new listings. All of these things will start from the new year', he said.
'The global trend is to accommodate these high-frequency traders. There is going to be this dealers-brokers who will be offering crypto to their retail customers. And there are these OTC brokers who will be providing services to institutional investors'
Kayamori discussed how miners were discontinuing their bitcoin mining operations due to the asset’s price tumble, and evaporating profits.
'If there’s enough miners going out of business, that means equilibrium is near. When you look at how markets overshoot, both up and down, you can probably say it’s close to the bottom.'
'We have a lot to look forward to', he said.
The crypto markets have been negative recently, especially this past week. $BTC has broken through support level after support level. However, I continue to remain bullish despite the current sentiment. The fundamentals remain. Crypto is here to stay.— Mike Kayamori (@MikeKayamori) November 23, 2018
I believe crypto has a strong future and 2019 is going to be a good year. There is a lot to look forward to.— Mike Kayamori (@MikeKayamori) December 4, 2018
Today I had the privilege of appearing on Bloomberg to discuss with @EngleTV the crypto markets and where we are heading.
You can watch here: https://t.co/0OQ1W72lgm