Roger Ver is Positive about the Future Fundamentals of Cryptocurrency Markets
The cryptocurrency markets are largely in the red and crypto skeptics are wondering how long the bearish trend would prevail. Amidst all the losses and negative sentiments about the crypto market, some analyst strongly believes in the future fundamentals for the cryptocurrency market.
Roger Ver, also known as Bitcoin Jesus, is among those analysts who see bright prospects for Bitcoin. Although he didn’t highlight any price prediction regarding the bottom of the current bearish spell, Ver remains optimistic about a turnaround in 2019.
He says, “I’m a fundamentals investor who started investing on fundamentals long term … There’s more awareness. There’s more adoption happening all over the world. So, of course, I’m incredibly bullish on the entire crypto coin ecosystem and Bitcoin Cash specifically.”
The reports of scams and unregulated crypto exchanges have been impacting the credibility of crypto markets over the years. Several Wall Street and retail investors are hesitating to invest in cryptocurrency markets amid reports of scams and unfair trading activities.
Ver, on the other hand, sees the reports of scams differently; he believes these types of stories are enhancing awareness.
“And the fact that hackers are trying to hack it shows that is worth something. If it wasn’t worth anything or wasn’t useful. Hackers wouldn’t be wasting their time trying to hack it. So if anything, it’s just more bullish signals that cryptocurrency is here to stay. And here for the long term,” he added.
He is also optimistic about improving regulations in Japan – which is the second largest country considering the crypto market capitalization.
Japan is planning to announce new rules for ICOs to prevent fraud. Ver believes higher scrutiny and regulations would eventually increase the trading volume and the credibility of the market.
The G20 countries have also announced to take collective steps to regulate crypto markets during last week’s summit in Argentina. Japan is a member of the G20.
The G20 declaration states: “We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed.”
Cryptocurrencies are turning into an essential financial tool amid its innovative blockchain technology and the potential to work as a medium of exchange. Therefore, the majority of countries want to regulate this industry. These steps could create short-term volatility and instability in markets, but regulations would improve long-term fundamentals.
Do you believe cryptocurrency regulations would improve its credibility and traders interest? Lets us know about your thoughts in the comments section below.