The market for Bitcoin is showing great positivity. At the moment of writing, the number one cryptocurrency is trading at USD 10,288.59, as per CoinMarketCap data. While traders are finding it difficult to predict which direction BTC is going to go next, Erik Voorhees, the Founder & CEO of ShapeShift, has made a strong prediction.
As per Voorhees, Bitcoin is going to cross the mark of $20 thousand by the end of this year. Here, find more information about Bitcoin price projections on the forecast page.
Voorhees voiced his predictions in an interview with Ethereum World News dated 8th September 2019.
Expressing his beliefs, the crypto exchange’s founder said that the upcoming bubble cycle would be in 2020, irrespective of halving. Voorhees, however, also added that he makes a lot of these price predictions since they are fun, accepting that he is usually wrong.
The interview also saw Voorhees sharing his belief on crypto being a long-term and extremely speculative project. Continuing further, Voorhees said that everybody should hold some while assuming it would all go to 0. When people are comfortable with that thought, then they are ready, added Voorhees. In simple terms, Voorhees believes that those trading it should keep a long-term mindset with the realization that they can lose all of it.
According to Voorhees, Bitcoin has grown “to take over the world,” and this phenomenon would continue for some time. At the same time, Voorhees also confessed that while he remains highly bullish when it comes to Bitcoin, a world that only has Bitcoin as a cryptocurrency would be “a poorer world.”
Although Voorhees refrained from endorsing other projects, he did state that there is a minimum of 5 to 10 altcoin projects that deserve attention.
Meanwhile, Voorhees disclosed in the same interview that ShapeShift would be acquiring Ledger support this year.