With Bitcoin and other cryptos having had a terrible year in 2018, many believe that these could be in dead waters. But there are also others who continue to believe that this just a blip in the long future of cryptocurrencies.
Another one of these believers is the Managing Partner at a US-based venture capital firm which focuses on crypto, called Dragonfly Capital Partners. Alex Pack is of the view that Bitcoin will never fall to zero, and that the world’s largest digital currency crossed a major milestone in 2018.
Pack elaborates on Bitcoin saying that it is a landmark in the history of money and that it is now a dependable store of value.
Bitcoin and cryptocurrencies are suffering from slow adoption. That’s not all, institutional investors have also gotten cold feet. The crypto markets are also suffering from tightened regulations.
Over the last week, Bitcoin has bounced back from its yearly lows to reach the USD 4,000 mark. However, many experts believe that this rally is short lived.
Packs begs to differ. The fund manager is confident on the future of Bitcoin owing to the interest in Bitcoin generated from the New York Stock Exchange as well as NASDAQ.
At the same time, the Ripple team has worked hard to get banks to integrate their systems. But there is still a lot of work that needs to be done if Ripple really wants its technology fully integrated into the banking system.
Ripple’s CEO Brad Garlinghouse said that the future of Ripple is bright as many banks will be using the XRP ledger by the end of 2019. The XRP ledger is an open-source codebase that can perform over 1,500 transactions in every second. It requires the XRP coin.
“I have said it before that by the end of 2019, the xRapid ledger will be a significant tool in banks around the world. Before 2019 comes to an end, I believe that dozens of banks will embrace Ripple.”
Now, with its adding to Binance, as far as market cap rankings, the addition of XRP base pairs may help widen the ~$2 B gap that already exists between XRP and ETH, putting XRP more firmly in the second place position behind Bitcoin. If one of the main arguments against fiat currencies is central bank manipulation, the same argument can be used against Ripple as well.