In the yesterday’s interview with Bloomberg Markets, Mike Kayamori, CEO of Japanese fintech company and cryptocurrency payment operator Quoine, stated that BTC price will “surpass” its historical highs by the end of next year.
Kayamori said he expects that the current bear trend will give way to more bearish attitudes on the cryptocurrency market after the new year, while noting that “there’s nothing new, no catalysis” in the immediate future to boost the bitcoin price.
As stressed by CEO Quoine, the digital gold failed to maintain its positions despite many had called $4 000 threshold as the “technical bottom” for BTC.
“That said, when you look at historical [patterns] and where things are going, I think the bottom is near,” – he added.
He corroborated his words by noting the pressure on BTC miners resulting from the digital asset’s price meltdown.
“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,” – the expert noted.
It is worth noting, however, that despite the BTC price decline, all its fundamentals have been growing stronger in the course of this year.