The general director of the Japanese financial technology company and the Quoine crypto-exchange operator said that Bitcoin (BTC) will exceed its record price maximum by the end of 2019, – in an interview with Bloomberg Markets: Asia, December 4.
An interview with Mike Kayamori took place in connection with the decline in capitalization across the industry cryptocurrency. Mike Kayamori said he expects positive developments and impulses in the crypto-market. According to him, they will appear in early 2019. He noted that "in the near future, there is nothing new, no negative catalyst" to stimulate a decline in prices.
Quoine's CEO stated that: "(...) although many of the experts called $ 4,000 a“ technical bottom ”for Bitcoin this winter, because the dominant coin failed to keep the mark during the recent sale (...) However, if you look at the historical development trend (...) I think that this is the bottom (...) But in the longer term, the cryptocurrency market expects a rise."
He confirmed his thoughts, noting information about the pressure on miners and “adherents” of Bitcoin. Today, many of them fear abrupt actions, because the fall in asset prices reduces profits. At the same time, looking at the statistics of the fall and appreciation - it can be assumed that Bitcoin will reach a record maximum in 2019.
Prospects for the cryptocurrency market in Japan
"If there are enough miners going out of business, it means a plank of balance is close. When you look at how markets are re-adjusted, both up and down, you can probably notice close changes in the whole area." – Mike Kayamori.
Kayamori claimed in an interview that new crypto-exchangers with new "prospects and motivation" are starting to open in Japan. Moreover, most of the country's domestic stock exchanges are close to fulfilling the conditions for business improvement (which were issued by the Japan Financial Services Agency (FSA) to clean up the industry after breaking into Coincohck).
In an interview, it was noted that Japan is "the first global economic power that regulates cryptocurrency". The CEO also pointed to the country's innovative views on ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details and new developments, which indicates a positive development trend. Mike Kayamori, speaking of the imminent rise of the cryptocurrency market, also mentioned the fact that modern government institutions have begun to use cryptocurrencies.
In addition, as previously reported, the FSA is working on ICO rules to protect investors from fraud. And, as it is reported today, the Japanese government is also allegedly currently looking for ways to prevent tax evasion on profits from cryptocurrency transactions.
Editor: Yuliya Soroka