The Increase Of Cryptocurrency Market Prices Is Possible
Pantera Capital’s co-CIO, Joey Krug claims that if cryptocurrency market wants to grow, the developers need to work on scalability. That’s the only way of achieving visible results.
Cryptocurrency markets could increase tenfold by the year 2020, according to Pantera Capital’s co-CIO, Joey Krug. Pantera is a blockchain investment firm that we mentioned previously on our website. Yesterday, Krug was interviewed by Bloomberg and he made some blunt statements concerning cryptocurrency market. First of all, scalability improvements for Bitcoin are essential to make a change in the deflated price charts that we’ve seen lately.
Krug’s statement was made shortly after a recent development on the bitcoin market – the launch of Fidelity’s new trading platform. Despite positive reviews and comments from big finance players such as Galaxy Digital, the news failed to change anything on the crypto market. Krug assigned this to a poor capacity visible currently on the cryptocurrency stage. Moreover, the Pantera’s CIO doubted if bitcoin would ever become as big as payment networks like Visa or MasterCard.
Scalability is the key
In spite of Krug’s dark thoughts, developers should continue working on improving the capacity of the platforms. Increasing the number of transactions would make a colossal change in the crypto market. Achieving the output at MasterCard or Visa level may cause even a tenfold increase of prices on the cryptomarket in the next two years, Krug stated. But that won’t happen until the problem of cryptocurrency platforms’ scalability is solved.
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