Now that Bitcoin is below $10,000 what do we do about it? Industry leaders share their opinion (Exclusive!)

Insights from Industry leaders on Bitcoin prices

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As part of our ongoing series on Bitcoin prices below $10,000 E-Cryptonews reached out to a couple of industry leaders and here is what they had to say:

Sang Lee, CEO, and Co-Founder of Konstellation, an award-winning Blockchain development and consulting company.

 

“It’s a great time to purchase more (this is not financial advice).  The price changes and volatility in the space are really by products of a burgeoning asset class that is still in the midst of price discovery.  What we do know historically is that the price of Bitcoin has grown year over year and will likely do so again in 2019. What the industry and its leaders need to do focus on usability and ease of access into the cryptocurrency space which is even more important then education around why blockchain is a great system.  Naturally if it’s better to use adoption is following closely behind”.

Points to Note

  • It is a great time to buy Bitcoin.
  • Bitcoin’s price is expected to go up based on past growth.
  • Adoption is coming which shall buoy up prices further.

Sukhi Jutla Co-Founder and COO of Marketorders, Author “Escape the Cubicle: Quit the Job You Hate, Create a Life You Love”.

“Though the price of Bitcoin has fallen of late this could be due to lower investor confidence fueled by the ongoing issues with Libra and the slow progress of Baakt. However, I predict this is short term and that the price will steadily increase again as we head towards the end of the year”.

Points to Note

  • Baakt’s and Libra’s disappointments are some of the main reasons behind the recent price dip.
  • The price dip is temporary.
  • Bitcoin’s prices will increase before the end of the year.

 

Scott Purcell CEO Prime Trust, ( Scott has more than 20 years of experience in banking, securities, technology, and internet infrastructure).


”We shouldn’t do anything about it. Bitcoin was, and remains, a great proof-of-concept for blockchain technology. Regardless of what happens with the price of BTC in the future, the use of blockchain is going to bring disruptive and transformative change in the next decade.”

Points to Note

  • Bitcoin is the foundational concept for Blockchain Technology.
  • As such, it will always have a store of value.
  • Blockchain technology will transform the next decade.

 Lance Morginn, President of Blockchain Intelligence Group (BIG) a Vancouver-based blockchain-agnostic search and analytics intelligence firm, working directly with financial services, ATMs, exchanges and banks.

 

“Bitcoin is still the best performing asset for 2019. We continue to see traditional businesses announcing they now accept Bitcoin. Starbucks, Wholefoods, Shopify, Dish and many, many, more. Users of crypto and people in the industry providing solutions should continue to educate others about what cryptocurrencies are and this in turn will create more demand and cause the overall value to increase. A lot of people that have heard of Bitcoin still don’t know it’s divisible by 8 decimal points. Bitcoin has its technical limitations, but it is the gold standard and is synonymous with the term cryptocurrency. 150 billion for a global currency is small in the scale of things, which tells me there is a lot of upside in its future”.

Points to Note

  • Bitcoin is the best performing asset despite the price dip.
  • Adoption is ongoing on a massive scale.
  • Bitcoin is fast becoming the gold standard for twenty-first-century assets.
  • Bitcoin has a great future.

What do you think should be done now that Bitcoin prices are below $10,000?

Please let us know in the comments below!

 

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