Here's a BlogBitcoin Is Here to Stay’ Says Dave ChapmanBitcoin holders are freaking out because of its price slumps, but according to Dave Chapman, who is the Hong Kong-based cryptocurrency exchange, ‘cryptocurrency is here to stay’. Chapman believes that the erratic slumps in the price of bitcoin and the anguish surrounding intensifying regulatory scrutiny are norm for the development whenever something new arrives in the market.
Chapman told the South China Morning Post: “Everyone says crypto is so bad, but there’s no difference between this and any other time when people have gone into something (new)… Is it new? Yes. Does it need to mature? Yes. Will it be regulated? Yes.” Who is Dave Chapman? Dave earlier worked at:
However, he got disenchanted with the traditional finance when the worldwide financial crisis flared up in 2008 and its impacts sustained quite well into 2012. He recalled: “It broke my confidence a little bit to see how it operates.” Chapman has recently launched a cryptocurrency trading firm under the name of “Octagon Strategy.” The firm is trading seven digital currencies at this time, and Chapman is quite optimistic that it will increase those offerings to 40-50 by the end of this year. Cryptocurrency Is Unstoppable Dave Chapman appreciates how the cryptocurrency ecosystem is decentralized, as he said: “One of the really fascinating things that kept me coming back to bitcoin when I first saw it is that there was no central authority… That means no one can stop it. A bank can’t stop it. A dictator can’t stop it. Parents can’t stop it.” When Dave Chapman first got into cryptocurrencies, he said, his former investment-banking colleagues supposed that he was going crazy. Dave narrated: “It surprised a lot of people: leaving a respected career to go and play with ‘magical internet money - That’s how a lot of people viewed it.” BTC’s Daily Prices According to a report, Chapman has predicted the future of bitcoin 2018 and set a $100,000 price mark for BTC by the end of this year. Chapman said, he was also sacked when he predicted that the price of Bitcoin would hit almost $10,000 mark by the end of 2017, and the BTC’s price mounted to over $13,000 on 31st December 2017. Although a lot of investors obsess on the daily price fluctuations of Bitcoin, Chapman believes that Bitcoin prices are the least appealing thing to him about the cryptocurrency market cap. The co-founder of Fundstrat, Tom Lee also believes that the price of Bitcoin will upsurge after the Tax Day in the US passes. Lee accredited the recent drop in the price of Bitcoin to investors, who are trying to sell their cryptocurrency holdings in order to circumvent disbursing capital-gains taxes. |