Bitcoin’s price has traded around $4,000 over the past week after falling to about $3,500 last month. This massive selloff has left investors wondering how long cryptocurrencies will stay under pressure. It highlights diverse investor views crypto future in this volatile market.

The market holds mixed opinions about cryptocurrency’s future. Some expect the bearish trend to continue, while others forecast a bull-run in 2019.

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Jim Breyer, a billionaire investor – who has stakes in largest companies, including Dell, Blackstone, and Walmart, predicts that crypto markets might be entering into a “nuclear winter.”

Cyclical Price Movements Are Expected

The investor says he is interested in cryptocurrencies despite the slump in prices. He believes cyclical price movements have been seen in several other emerging markets in the past. He pointed out that the internet and artificial intelligence industry experienced huge price swings in the 90s.

Breyer said, “These cycles keep happening every decade or so, and this type of seasonality is ‘inevitable.’”

He applauded the invention of blockchain technologies, which are backing cryptocurrencies. Several top-rated banks and tech corporations have investigated blockchain technologies. Most of them now use these technologies to improve their business efficiency.

Blockchain technology has contributed substantially to the financial sector. Banks and payment companies worldwide use blockchain to reduce costs and speed up domestic and international payments.

He said, “Many of the best computer scientists and deep learning Ph.D. students are working on blockchain. They have a deep interest in what blockchain can achieve. You don’t want to bet against the best and brightest in the world.”

Breyer believes cryptocurrencies will likely experience price swings due to their unregulated nature and concerns about their use as a medium of exchange.

Conclusion

The cryptocurrency market has experienced several positive developments in the past few months – which would likely offer support to prices. The G20 group announced to take collective measures to regulate virtual currencies; these countries want to oversee price manipulation activities and terror financing through digital coins. This wave of regulation, along with the entrance of Fidelity, Goldman Sachs, and the ICE, is shaping investor views crypto future and adding to overall investor confidence.

What’s your opinion about Jim Breyer’s stance regarding cryptocurrency markets? Express your opinion in the comment section below..