The co-founder of globally famous Union Square Ventures and renowned venture capitalist, Fred Wilson has recently discussed the market outlook for 2019 through his well-recognized blog. While briefly discussing the macroeconomy, the famed venture capitalist which shares own a Tumblr, Twitter, and Kickstarter has enlightened the recent news on the dispute over China-US trade, US Federal Reserve, the investment situation of Bitcoin and other block-based speak assets.
As per Joseph Lubin, the founder of blockchain development group ConsenSys and co-founder of Ethereum, whose comments were summarized in the blog, the Bitcoin world is approaching a bottom for this emerging asset class. The blog entitled “What will happen in 2019”, Fred wrote that this situation may arise for large, liquid and lasting crypto tokens such as Bitcoin, Ethereum and other related names.
Even with an emerging market is underway, the process could take much of 2019 because of the volatility that this asset class is subject to. Wilson, who is the member of Union Square’s top buyer, also estimated that the current market silence that Bitcoin series saw in the small zone will continue and a number of “bullish runs, followed by sales pressures” will bless the cryptic shortcomings with their presence. The continuing sales pressure may hit Bitcoin to its lowest low of $3,150.
Whereas Wilson didn’t disclose whether other cryptocurrencies to hit new lows, but many of crypto experts including Anthony Pompliano from Morgan Creek has estimated that Bitcoin could be dropped down below $3,000 before a real bottom is discovered. With the addition of innovative projects along with an increase in prominence for blockchain 3.0 platforms which was established in 2017, Wilson explained that consumers will soon begin to provide stable coins, crypto assets /NFT for crypto games and spending / earning opportunities.