Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Crypto Market Poised for Tenfold Increase, Pantera Capital CIO Says

Published 10/18/2018, 04:38 AM
Updated 10/18/2018, 05:41 AM
 Crypto Market Poised for Tenfold Increase, Pantera Capital CIO Says

Crypto Market Poised for Tenfold Increase, Pantera Capital CIO Says

Joey Krug, the chief information officer (CIO) of crypto-oriented investment group Pantera Capital, expects the cryptocurrency market to expand tenfold from its current valuation of around $210 billion to more than $2 trillion.

“If you look at that next bull run, I think the crypto space overall could hit 10x from here,” Krug told Bloomberg in an interview on Monday.

He added the market was “close to a bottom at this point,” and there are two major catalysts for a possible turnaround. One is recent developments in the crypto space, among them the increasing number of traditional financial services giants joining the nascent industry. When asked why the news of Fidelity Investments launching a crypto trading platform for institutional investors did not spur a major uptick in prices earlier this w...


This article appeared first on Cryptovest

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.