Reprinted from 100 Author: I am plus Kunming
Encryption industry investor Anthony Pampriano said, bitcoin (BTC) may be less than the record $3000 low 85%. In November 26th, Pompi Liano made the prediction in the CNBC radio interview. Morgan Creek encryption investment company (Morgan Creek Digital Assets digital assets) partner argued that although bitcoin is overvalued in December 2017 this year, “selling pressure then promoting bitcoin prices – but with the long-term value of assets of several important factors related to remember:
First of all, (bitcoin) is the most secure transaction layer of the world, so it must have value…… It is in the past 10 years the best asset category during the long bull market, it outperformed the S & P, Dow, NASDAQ etc..” He said: “in the past two years, this figure dropped by eighty-five percent, but in the past two years is still up more than four percent.”
He added that in the past few years all bitcoin prices are driven by retail investors, any substantial participation in major institutional investors ahead of the next year’s ready to enter the field of encryption. Large participants include fidelity and the New York Stock Exchange (NYSE) operators Intercontinental Exchange (ICE). Pompi Liano believes that the recent encryption market “shuffle” is a barometer of retail investors mode; in 2017 driven by individual investors in history, this encryption currency has been regarded as a “speculative asset volatility high”. He said, in contrast, in the recent mechanism is mainly through the less transparent over-the-counter (OTC) are, in the over-the-counter transactions, the trend is not immediately apparent, but also more difficult to penetrate. Pompliano finally asked, with encryption currency and asset values plummeted, crypto currency miners declining profit margins. He admitted that in the outside Chinese low cost power resource rich area — he claimed that in Chinese, miners can to $2000 to $2500 — we are seeing the casting bitcoin, the cost in power drive cost close to $6000 or $6500 for the area, the miners also appeared similar to the “loss”. He said, “the latter are now under water.” As mentioned earlier, the Morgan Creek digital assets by institutional investment company Morgan (Morgan Creek Capital) Creek capital support, which manages $1 billion 500 million in assets. The company launched a digital asset index fund at the end of August, bitcoin, Ethereum and other 8 kinds of the market value of the larger assets indirectly open to accredited investors, but did not advance to dig out the Ripple (XRP) and Stellar (XLM) password etc.. Civic identity management start-up company (Civic) CEO Vinnie Lin Graham (Vinny Lingham) predicted yesterday, bitcoin transactions will be in the range of $3000 to $5000, at least 3 to 6 months; if the coin failed to break the high, it is also likely to lose $3000 support. As of press time, bitcoin is currently trading at $3730 in the past 24 hours fell more than 6% points.
Translation: Kunming plus