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Crypto Hedge Fund Manager Explains Why May Was Crucial for Bitcoin (BTC)

News
Sun, 05/31/2020 - 15:16
Vladislav Sopov
Bitcoin (BTC) and cryptocurrencies are usually associated with libertarian or even anarchist ideologies. However, Experts say that things may have been changed this May.
Crypto Hedge Fund Manager Explains Why May Was Crucial for Bitcoin (BTC)
Cover image via u.today
Contents

Matt David Kaye, Managing Partner of the digital assets hedge fund Blockhead, explained the role of Bitcoin (BTC) in modern conflicts between individuals and the state.

Breaking the Monopoly

Despite the fact that nothing unusual has happened from a historical perspective, Mr. Kaye published an introspective tweet about how this May broke the illusions for millions of people

Matt David Kaye explains how this May has broken illusions
Image via Twitter

In both democratic and authoritarian states, people have been forced to realize that governments are the only entities to have a monopoly on money or violence.

Mr. Kaye admitted that this order has not changed for generations. However, the expert highlights that 'it may or may not always stay that way'.

The opportunity for choice is what makes the flagship cryptocurrency look so interesting for Mr. Kaye.

Currency of Hard Times

In 2020, Bitcoin (BTC) has frequently been called the 'hedge against governance'. In January for instance, when the U.S. attacked Iran with a drone strike, the price of Bitcoin (BTC) reached $29,000 in the U.S. amid the backdrop of financial collapse.

In April, when Banque Du Liban (BDL), a central bank in Lebanon, started to grab 'hard currency' remittances from its citizens, 'Block Swan' author Nassim Nicholas Taleb recommended Bitcoin (BTC).

Finally, when the unpopular measures of the U.S. Fed Reserve put the U.S. Dollar on the edge of hyperinflation, several individuals from the investment community mentioned Bitcoin (BTC) as the only reliable asset.

E.g. Robert Kiyosaki, a real estate investor and author of several bestselling books, is sure that Bitcoin (BTC) can prevent the world from being destroyed by the U.S. Dollar's dominance.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)