Alistair Milne: Bitcoin Is Only Public Blockchain Certain to Last for Next 100 Years
The next cryptocurrency bull run will decide which public blockchains become the defining names of the industry, United Kingdom-based investor and entrepreneur Alistair Milne predicted in a Twitter thread Jan. 19.
Milne, who is well known on Twitter in particular as a source of bullish statements about Bitcoin (BTC), said that any new price highs for the largest cryptocurrency should surpass those of 2017.
“The probability that Bitcoin matches its ATH [all-time high] price again and doesn't then continue past it seems very low. Each wave of adoption is an order of magnitude bigger than the last,” he wrote in a thread on Saturday.
Bitcoin continues to trade around 80 percent lower than at its peak in December 2017, when its price reached more than $20,000 on some exchanges.
The persisting downturn has led to multiple accusations from high-profile economics figures — such as economist Nouriel Roubini — that Bitcoin is trending to zero, an argument proponents, including Milne, contest.
“It takes time for sentiment to change. 30-50million people owning crypto is not the industry's peak,” Milne continued, adding boldly:
“The next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the *only* sure thing.”
Milne also highlighted institutional investor interest and Bitcoin’s profile as “gold 2.0” in aiding the next round of adoption.
BTC/USD has lost around 5 percent over the past 24 hours, trading just over $3,500 by press time.
In December, the CEO of Japanese fintech firm and crypto exchange operator Quoine forecastBitcoin hitting new all-time highs this year. Prior to that, fellow investor Michael Novogratz likewise claimed the leading cryptocurrency could pass its $20,000 ceiling by 2020.