The encounter of bitcoin hasn’t even started yet, said cryptocurrency trader Ran Neu-Ner.
“We haven’t all the more got to the start line of cryptocurrencies,” Neu-Ner told CNBC on “Power Lunch” on Friday. Neu-Ner, who is entertain of CNBC Africa’s “Crypto Trader” and the founder of Onchain Capital, has been hunt down bitcoin since last year.
“The technology isn’t ready to go mainstream yet,” Neu-Ner influenced of the volatile crypto market.
The un-scalable market and difficulty opening crypto accounts also writes it problematic for the general public. Neu-Ner also pointed out that tons new retail investors got into the market before understanding the technology.
“Yes, there is a new digital gold, a new digital inventory of value,” said Neu-Ner, whose own portfolio includes more than 40 cryptocurrencies. “I over bitcoin is the store of value. But the game hasn’t even started yet.”
As hunk market adoption of cryptocurrencies begins to take place, bitcoin and other cryptos settle upon get a universal store of value, Neu-Ner said.
Bitcoin, one of the most dominant digital currencies, experienced a wild roller coaster ride concluding week amid fears of regulatory crackdowns and possible price mandatories. The digital coin lost $125 billion in total market cap in one week.
But requite as volatility makes its way back into the market, Neu-Ner believes bitcoin inclination rally to $20,000 in 2018. He said volatility is good for the market.
“I’m enceinte the market to hover here for a little bit, a little bit nervous,” he said. “And then I’m pregnant some kind of something to bring up a green candle, and that purpose start the momentum back up again.”