Nigel Green: interest is growing but other cryptos could take over Bitcoin

12 Dec, 2018
by Alberto Arnaldo
Nigel Green: interest is growing but other cryptos could take over Bitcoin

The CEO of investment firm deVere Group shared his analysis about the cryptocurrency market today in an interview with U.K.’s The Express.

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Green believes that the first crypto by market cap is likely to remain dominant for some time, although he argues that its market share will gradually descend over the next 5 to 10 years:

This is because as mass adoption of cryptocurrency grows, more and more digital currencies will be launched – by organizations in both the private and the public sectors’. 

A competition situation such as that one would trigger the appearance of a new crypto with a superior technology, that under the expert’s eyes would make BTC’s market dominance bleed slowly.

In addition, it is likely that bitcoin will be hit by the superior technology, features, and problem solutions offered by existing and yet-to-be-released cryptocurrencies’.

Regarding market situation, Green welcomes the new volatility as an opportunity for the industry, although is not calling for moon anytime soon.

I don’t think that volatility is causing people to lose interest. Quite the contrary. I believe interest is growing – we have seen clearly from institutional and retail investors, financial institutions, governments, central banks and regulators. Market volatility can be used as major buying opportunity’.

While the unpredictable price evolution of Bitcoin has many claiming that investors should stay away from it, the CEO of deVere believes that the stories about this topic are shading the real potential of Bitcoin. 

I think that it is unlikely that there will be major swings - of the kind we saw this time last year – to either the upside or the downside. It is, overall, and despite the current bearish sentiment, becoming a more mature asset class’.

Read more: Why Novogratz is staying in crypto: BTC is a "legal pyramid scheme"

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Read more about: Bitcoin (BTC)


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