Changpeng Zhao And Arthur Hayes Predicted Cryptocurrency Market Growth In 2020
Binance CEO Changpeng Zhao, BitMEX CEO Arthur Hayes, F2Pool CEO Thomas Heller and other members of the crypto community shared their predictions with the Global Coin Research center on how the blockchain industry will develop in 2020.
Members agree that the cryptocurrency market will grow rapidly in 2020, and blockchain technology will be used in many sectors of the economy. Jason Khan, director of the cryptocurrency division of the Korean Internet giant Kakao, said that in 2020 even traditional enterprises will begin to more actively use various blockchain solutions, for example, authentication systems based on a distributed ledger.
BitMEX CEO Arthur Hayes said that a large number of states will pay attention to technology in 2020. Bitcoin will interest them as a tool that is both a risky financial asset and a scarce commodity.
The head of the Binance cryptocurrency exchange, Changpeng Zhao, agreed with Hayes. He believes that more and more states and institutional investors will pay attention to cryptocurrency and blockchain in the next 12 months.
According to him, in 2020 we should expect from the governments “various experiments” with blockchain technology. Some of these experiments will be successful, and some will not. However, despite the result, all of them will positively affect the spread of cryptocurrency.
Zhao also noted that the growing demand from institutional investors is a sign that the price of cryptocurrencies will rise. He added that in the short term, Bitcoin will remain a “highly volatile" tool.
The fact that in 2020 many new people will come to the industry, said the head of Tezos in Southeast Asia. According to him, people who “knew about the blockchain but were afraid to take the first steps” would come to the industry. The founder of the DappReview platform, Vincent Niu, believes that many large Asian players will enter the cryptocurrency market, and perhaps we should expect the appearance of a “real dApp killer”.
The head of the Chinese branch of MakerDAO, Chao Pan, has a similar point of view. He believes that in 2020, the areas of decentralized (DeFI) and traditional finance will be increasingly intertwined. This will happen largely due to the advent of Ethereum 2.0.
The head of the business development department of the F2Pool mining pool Thomas Heller said the Bitcoin halving will affect miners more than the previous ones that occurred in 2012 and 2016.