CoinShares Chairman Predicts BTC Surge, New Bitcoin High in 2018

CoinShares Chairman and ex-JP Morgan global energy trading desk leader Daniel Masters predicted an impending 2018 bull run, stating that Bitcoin is set to return to previous highs - as long as two critical changes occur in the cryptocurrency ecosystem.

"We need to see this structure continue to build. We need to see the custody solutions come and be provided. We need indices and we need performance measures where we can actually start to understand what we're talking about and measure our performance."

In order for Bitcoin to reach previous highs, according to Masters, the current initial coin offering paradigm needs to evolve.

"We need to do more mature work around the ICOs, so that post ICO we have a token life cycle, and just give investors more clarity, better expectations, more transparency."

Masters highlights the opaque regulatory status of cryptocurrency, describing the "Regulatory sandbox" that cryptocurrencies have been placed in for the last five years.

The previous size of the cryptocurrency ecosystem, states Masters, is "Almost experimental in the scope of the main financial system." With total market cap skyrocketing over the last year traditional financial institutions and regulators are now beginning to regard cryptocurrency more seriously.

"Central banks and governments decided it could no longer be ignored. I don't think there's any concern from that community at the moment that there's leakage but I think they're beginning to realize that there is potential for that in the future."

"I think even if it's only 5% at the end of the day, that market will then still be much bigger than it is today."

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