- JMP Securities Director of Fintech Research commented on the outlook for the crypto industry
- He explained the reasons for the high volatility in the segment and gave a forecast regarding the adoption of cryptocurrencies
- According to him, the technology blockchain represents a “new frontier” of progress that cannot be ignored
Wednesday, 2 February, JMP Securities director of fintech research David Ryan gave an extensive interview to Fox Business. In it, he touched on several important topics in the crypto industry, including the potential for adoption of cryptocurrencies and the prospects for legislative regulation of this sector in the United States.
Despite the fact that BTC over the last month “dipped” by 10% in comparison with all-time high, Ryan remains optimistic. As well as the “whales” of this sphere, who are in no hurry to sell their savings.
However, “bright future” is not expected by all cryptocurrencies. Ryan considers some of them unpromising, which is reflected in a small level of demand and capitalization. But at the same time, the main groups of assets remain a significant factor of influence.
It is possible that new blockchain offers will appear on the market, including in the field of games:
“People are willing to monetize their time. In doing so, they use methods that are hard to even imagine.” 20210
Current high volatility in segment, according to the expert, is dictated by the “rivalry” of this and traditional financial systems. At the same time, in the future, it will come to naught, since cryptocurrencies have a huge potential for adoption.
Now in the USA, as well as in other modern and large economies of the world, there are global reorganization processes for the implementation of the blockchain. This serves as another confirmation that cryptocurrencies, and other digital assets, are already firmly rooted in society.
According to Ryan, this is a “new frontier” of development, an area with extensive prospects. And it is unlikely that governments will miss a market with such huge potential.