It’s no exaggeration to say that things have changed drastically in the cryptocurrency market in the past year. Using the price of Bitcoin as a benchmark, we see a stubborn trading range in the $3,000 area that’s persisted since November. This begs the question for long-term crypto holders: where do we go from here?
To help us take the pulse of the crypto market in 2019, Crush the Street connected with Simon Dixon, the CEO and Co-founder of global online investment platform BnkToTheFuture.com, which has invested over $525 million into fintech companies.
In addition to helming BnkToTheFuture, Simon Dixon is the Fund Manager of Bitcoin Capital and the author of the book Bank to the Future. An active fintech and Bitcoin angel investor and e-director of the U.K. Digital Currency Association and U.K. Crowdfunding Association, Simon regularly speaks on the future of finance to governments, businesses, investors, and financial institutions.
An ex-investment banker who left corporate finance in 2006 to work on his book on the future of banking, Simon Dixon can frequently be seen appearing and quoted in much of the major press and media, including the BBC, FT, CBNC, Reuters, Bloomberg, and The Wall Street Journal, just name a few.
Courtesy: Simon Dixon
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Mr. Dixon’s platform, BnkToTheFuture, is the largest global online community of professional investors all investing in financial innovation and technology. A full-service, multi-currency solution, BnkToTheFuture handles all documentation, administrative duties and payments for both investors and deals.
Because Simon is such an active participant in the crypto-sphere, Crush the Street asked for his perspective on where we stand with Bitcoin and other digital assets today and going forward. According to Simon Dixon, the current crash certainly isn’t he first one: he’s seen his $30 Bitcoin crash to $3, his $1,250 Bitcoin crash to $250, and his $20,000 crash to the current price.
Mr. Dixon does note, however, that each successive Bitcoin bear market is slightly longer, and with every longer bear market there follows a higher new high. And so, based on past performance, Simon fully expects Bitcoin at $100,000 to crash to $20,000 with an extended bear market prior to the next bull market after that.
One bullish catalyst, according to Simon Dixon, is that there are a lot of institutional players building up the crypto/blockchain industry; Wall Street has decided that Bitcoin is something they really want to be a part of. What Mr. Dixon has observed is that the institutions are engaging in billions of OTC trades, accumulating as much Bitcoin as they can.
Courtesy: Simon Dixon
So now you’ve got large exchanges like ICE (the Intercontinental Exchange) and the Nasdaq and the New York Stock Exchange preparing to launch their own cryptocurrency exchanges – they want to make sure they’re on the right side of the trend, according to Simon Dixon, before the new wave of institutional investors come in.
With the fiat-based financial system on such shaky ground, Simon Dixon expects that either the institutions will create their own blockchains and central banks and governments will create their own cryptocurrency standard, or central banks will themselves use blockchain in order to bail out the system during the next financial systemic risk event.
It all adds up to a Bitcoin-bullish future – and as you surely can tell by now, Simon is truly on the front lines of cryptocurrency trading and investing, so don’t miss out on Crush the Street’s power-packed interview with Mr. Dixon. In addition, you’re highly encouraged to visit BnkToTheFuture.com to see – and participate in – the future of banking.
And to get my current thoughts on where we are in this brutal cryptocurrency bear market, I invite you to go here to download Crush the Street’s exclusive Cryptocurrency and the Blockchain: Untold Digital Fortunes report right now.
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