Increased scalability of cryptocurrencies is needed before the next run-up in prices, but when that happens the market to increase “10x from here”, according to Joey Krug, Pantera Capital’s co-chief investment officer.
In an interview with Bloomberg he also said that the market has already hit its bottom this year.
Krug similarly compared the maximum current bull market to the cutting-edge marketplace, announcing that newsabout early adoption by way of some establishments sparked a surge in speculative investments years ago. This time round, however, he believes the market is expecting more “real adoption” of digital belongings, and decentralized packages (dapps) particularly.
He went directly to evaluate the current kingdom of dapps to “the internet before dial-up,” where they’re now notscalable, and those aren’t using them for that reason, hinting that this is the first component that desires to be solved.
although Joey Krug and Pantera Capital, a crypto investment firm and hedge fund, stay very constructive approximatelycrypto over the long–time period, Krug did warn that fees ought to preserve of their modern “variety–bound” pattern for a while.
whilst requested if it is proper that he doesn’t believe the market will rebound for the subsequent two years till scalability is solved, Krug replied that “we could see a rebound before then, however I suppose that’s gonna be the real catalyst that drives the next big bull-run for my part.”
In August, Pantera introduced that it is trying to enhance up to USD 175 million for its 0.33 assignment fund. this is a full-size jump from its previous ones, as their second one become USD 25 million, while its debut deployed USD 13 million back in 2013.
However, Pantera Capital’s Digital Asset Fund was still showing loss in August.
— Collin Crypto (@CollinCrypto) 5 Ekim 2018
In the meantime, new solutions that help Bitcoin to scale are being launched.
Recently, San Francisco startup Blockstream launched the Liquid Network, a Bitcoin sidechain, which marks “the beginning of a new era of digital asset issuance and transacting by enabling the tokenization of fiat, gold, securities, and even other new crypto assets – all with Bitcoin at the center.”
The sidechain has become another important development for Bitcoin alongside the Lightning Network. In comparison, while the Liquid sidechain is purpose-built to cater for the needs of exchanges, brokers and traders, the the Lightning Network is designed to enable the near-instant transfer of small or micro value payments between linked channel members and merchants.