Bitcoin, the world's largest cryptocurrency, has a crucial 2020 to expect, with one of the most important events scheduled for May: halving the block reward. Many investors and traders expect the price of the cryptocurrency to record a massive recovery, and some expect it to break its previous all-time high at the back of this event.
There are also some speculators in the market who believe that Bitcoin would probably not meet the bullish expectations of the market, given that the main factor that was missing during the last half was the presence of the futures market.
One of the last people to comment on how the cryptocurrency market would be presented this year is Zac Prince, CEO of BlockFi, in an interview with The Blockchain VC. Prince declared that he is "really optimistic" in the price of Bitcoin, and added that its price would be "much higher" by the end of 2020, compared to the beginning of the year. He also stated that he is "excited" to increase institutional and retail adoption, driven by the launch of new products. He said:
“So the CME recently launched the options trade, fidelity is adding new features and functionalities to its custody platform. I think we will see a trend of other traditional institutional actors that create products for the crypto market this year. ”
In the retail sector, Prince said there are two "exciting trends"; Traditional Fintech companies in the United States and other markets add support for cryptocurrencies on their platforms, and cryptocurrencies integrate with "traditional reward constructions."
«I think these use cases are really exciting, really convincing from a perspective of value proposition for the consumer and will help create this kind of constant buying pressure in the market, which will be one of the driving factors in the performance of the prices, I hope to be really great «.
Subsequently, the CEO also spoke about the regulatory landscape, especially in the United States, considering the response to the Facebook Pound received from regulators. Prince stated that from a regulatory point of view, there would not be many changes this year, and added:
“In fact, I think the United States has been relatively good in terms of regulations. And I would not bet on anything important happening in 2020, whether good or bad in terms of the regulatory structure. ”