Despite the major correction the cryptocurrency market has gone through the last month, Circle’s Claire Wells remains entirely bullish. She holds that an increase in the price of cryptocurrencies is “inevitable”.
Bullish in a Bear Market
The entire cryptocurrency market sees another day in the red as its first and foremost cryptocurrency trades at $6,115.14 – 1.68 percent down in 24 hours, at the time of writing. All of the top twenty digital currencies are down but one – Monero (XMR), which sees a slight increase of 1.53 percent, according to CoinMarketCap.
Despite the seemingly negative market setting, Claire Wells holds that an increase in the prices is “inevitable” and that it may happen in the next few months, saying:
Prices are down and trading is down but I think the price will increase again over the next few months and I think a lot of people are waiting to hear how regulation is thinking about it.
However, she was pretty clear about not wanting to select which cryptocurrency would experience increases, stating:
I wouldn’t necessarily want to put a price tag on or a currency frontrunner but I do think we will see an increase in value and, I mean, that’s inevitable.
Wells is currently occupying the position of a Director of Legal and Business Affairs at Circle – a mobile payment company.
Are Better Days Ahead?
Wells isn’t the only one who remains bullish amidst the majorly correcting market. Senior analyst Todd Gordon also expressed his opinion that Bitcoin will likely fall to $4,000 before bouncing back to $10,000 after the “technicals will kick in” for the number one cryptocurrency.
Furthermore, a recent report issued by Dutch banking behemoth ING found that interest in Bitcoin could double in the future. The research also revealed that one in ten Europeans currently hold some cryptocurrency while another 16 percent expect to own some in the future. Such a report reveals optimism as a greater number of people are learning about cryptocurrency and are willing to get into it.
Veteran trader Brian Kelly recently outlined four reasons for which Bitcoin might be bottoming, hinting at the fact that better days might come sooner rather than later.
Do you think the worst is soon to pass for Bitcoin, or will the price for the cryptocurrency fall even further? Don’t hesitate to let us know in the comments below!
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