{"id":136014,"date":"2018-10-24T11:15:48","date_gmt":"2018-10-24T15:15:48","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=136014"},"modified":"2018-10-24T07:40:46","modified_gmt":"2018-10-24T11:40:46","slug":"bitcoins-10th-anniversary-its-dominance-will-decline-but-crypto-market-will-rise-by-5000","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/bitcoins-10th-anniversary-its-dominance-will-decline-but-crypto-market-will-rise-by-5000\/","title":{"rendered":"Bitcoin\u2019s 10th anniversary: its dominance will decline, but crypto market will rise by 5000%"},"content":{"rendered":"
October 24, 2018<\/div>
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By George Prior<\/strong><\/p>\n

Bitcoin\u2019s influence and dominance of the cryptocurrency sector will \u201cdrastically reduce\u201d in its second decade, with the crypto market likely to expand by \u201cat least\u201d 5000% in the next 10 years.<\/p>\n

These are the bold forecasts from Nigel Green, founder and CEO of deVere Group, one of the world\u2019s largest independent financial advisory organizations, which launched deVere Crypto, the pioneering cryptocurrency app earlier this year.<\/p>\n

His comments come a week ahead of 31st October celebrations to mark the 10th anniversary of Satoshi Nakamoto\u2019s release of the Bitcoin whitepaper.<\/p>\n

Mr Green states: \u201cNext week Bitcoin, the original and still largest cryptocurrency by market capitalization, celebrates its 10th\u00a0anniversary.<\/p>\n

\u201cBitcoin is what kickstarted the crypto revolution and it has changed the way the world handles money, makes transactions, does business, and manages assets, amongst other things, forever.\u00a0 It all began with Bitcoin.\u201d<\/p>

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He continues: \u201cHowever, whilst I don\u2019t wish to rain on anyone\u2019s parade, I believe that Bitcoin\u2019s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade.<\/p>\n

\u201cThis is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched \u2013 by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.<\/p>\n

\u201cIn addition, it is likely that Bitcoin will be hit by the superior technology, features, and problem-solutions, offered by existing and yet-to-be-released cryptocurrencies.\u201d<\/p>\n

Mr Green goes on to say: \u201cThere\u2019s an ongoing shift away from fiat money, and the momentum of this is only set to increase over the next 10 years.<\/p>\n

\u201cThe pace of mass adoption will speed-up and the cryptocurrency market cap can reasonably be assumed to reach at least 5000 per cent above its current valuation over the next decade.\u201d<\/p>\n

Today the cryptocurrency market is worth more than $400 billion, meaning it could reach the $20 trillion mark by the deVere CEO\u2019s prediction.<\/p>\n

He concludes: \u201cA growing number of major institutional and retail investors, as well as financial institutions and regulators, amongst others, understand that cryptocurrencies are the future of money.<\/p>\n

\u201cAs such, the market will have grown beyond recognition when Bitcoin celebrates its 20th anniversary.\u201d<\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n

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By George Prior Bitcoin\u2019s influence and dominance of the cryptocurrency sector will \u201cdrastically reduce\u201d in its second decade, with the crypto market likely to expand by \u201cat least\u201d 5000% in the next 10 years. These are the bold forecasts from Nigel Green, founder and CEO of deVere Group, one of the world\u2019s largest independent financial […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-136014","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=136014"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136014\/revisions"}],"predecessor-version":[{"id":136015,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/136014\/revisions\/136015"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=136014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=136014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=136014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}