UK-based investor and entrepreneur Alistair Milne believes that the next bullish run in the crypto trade market would decide the future of public blockchains. Milne, a well-known personality on Twitter, has been known for his bullish comments towards the pioneering Bitcoin cryptocurrency.
Milne has predicted that whenever the next bullish trends occur, it would take the prices of Bitcoin ahead of its 2017 gains. He said,
“The probability that Bitcoin matches its ATH [all-time high] price again and doesn’t then continue past it seems very low. Each wave of adoption is an order of magnitude bigger than the last,”
The prediction might look flawed and not convincing since Bitcoin is currently trading around $36,00 mark (at the time of writing the news), 80% lower than its 2017 high. 2018 bearish trends of the market made many of the likes of Milne, who predicted the BTC prices to double and even triple, to eat their words.
Economists Disagree With Milne
The current tryst of Bitcoin to get past the $4,000 mark has made many high-profile economists like Nouriel Roubini believe that Bitcoin might touch down the $0 mark way before it would see its prices bloom like the last quarter of 2017.
Milne however disagrees and points out towards the initial days when Bitcoin was little known and brushed off as an internet facade. Milne believes it takes time for human sentiments to change. He added that crypto space with almost 30-50 million crypto users is not at its peak, but the initial stage where the impact has been so large in such a limited time that people often get worried by the market price volatility.
Milne added boldly,
“The next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the *only* sure thing[.]”
Milne also drew attention towards an ever-growing number of vendors accepting Bitcoin and the interest of institutional investors, which hasn’t degraded ever since Bitcoin took the centre stage.
Crypto market predictions are nothing new and bullish investors always maintain an optimistic stand, hoping that the prices would either double or triple in coming years. However, there is no base or analysis behind it, just plain statements made out of their emotional quotient towards the Bitcoin.
You must have heard people saying they are in it for the technology, but spend most of the time around the investment, so it’s only reasonable for them to be bullish. Whether the claims made by Milne stands the test of time, we would have to wait and see.