DeVere Group CEO, Nigel Green, stated that the market of the cryptocurrencies will increase at least by 5000% in the next 10 years.
In a news post published by DeVere Group, an independent financial consultancy, Nigel Green made some predictions about the crypto market, on the occasion of the tenth anniversary of Satoshi Nakamoto’s release of the Bitcoin whitepaper.
The CEO and founder of the financial Group believes that Bitcoin’s dominance of the cryptocurrency sector will radically decrease while the market will rise.
“Next week Bitcoin, the original and still largest cryptocurrency by market capitalization, celebrates its 10th anniversary. Bitcoin 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. It all began with Bitcoin.”
And he continued:
“However, whilst I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade.”
Green explained this decrease of dominance because of the launch of new digital assets and this will increase competition for Bitcoin.
Furthermore, “Bitcoin will be hit by the superior technology, features, and problem-solutions, offered by existing and yet-to-be-released cryptocurrencies.”
To conclude Nigel stated that the rate of mass adoption will accelerate, and the cryptocurrency market cap can achieve at least 5000 % above its present valuation.