Mati Greenberg, eToro Senior Market Analyst, Talks Bitcoin, Blockchain and Altcoinsbr>
Block Tribune asked him for his outlook on bitcoin and several altcoins for the rest of the year.
BLOCK TRIBUNE: Ethereum has been down for a while, and now is being challenged by other blockchains. What’s your outlook for it?
MATI GREENSPAN: Ethereum is doing their very best to scale, but it’s not such a simple task. At this point, it seems that the dev team is going for a slow cautious approach to upgrading the network, which is probably a smart move given their current amount of users. In the meantime, there are no tested rivals to ethereum’s popularity, but EOS, NEO, and ADA are hot on their heels.
BLOCK TRIBUNE: Some pundits are predicting a big bitcoin run-up by the end of the year. Do you agree? Why or why not?
MATI GREENSPAN: It’s very possible. The latest price action in the crypto world suggests a distinct flight to quality, where the more established cryptocurrencies are gaining against their newer rivals. Bitcoin is the most well established digital asset around and so has every reason to fly should the sentiment continue.
BLOCK TRIBUNE: EOS is off to a somewhat rocky start. Tell us your thoughts on its development so far.
MATI GREENSPAN: It’s definitely the most well-funded blockchain project we’ve ever seen. Many startups go through a less than perfect launch so I’m not particularly worried about the issues we’ve seen so far. It doesn’t exactly fill me with optimism though. We’re really gonna have to wait and see with this one.
BLOCK TRIBUNE: Will Litecoin ever be more than a bridesmaid for altcoins?
MATI GREENSPAN: Litecoin is digital silver. As such, it’s never leaders have never had a goal of taking over the market. The Litecoin foundation sees the currency as a supplement to the other cryptos and that’s exactly what it is, a reliable and trusted store of value and means of exchange.
BLOCK TRIBUNE: Why haven’t the extreme privacy coins made more of an impact in volume?
MATI GREENSPAN: There’s a bit of a stigma among the privacy coins. It’s becoming clear that global regulators, even those in countries with a crypto friendly outlook, are less than excited about privacy coins.
BLOCK TRIBUNE: You recently were bullish on Cardano. What is its price outlook for the rest of the year?
MATI GREENSPAN: As a new project, it’s very difficult to know how it will go. As you can see from our research paper, the usual metrics that we would normally rely on to evaluate cryptocurrencies simply aren’t there with Cardano just yet. I can tell you that they have a fantastic team and an excellent vision, so we do have high hopes for this one.
BLOCK TRIBUNE: Bitcoin Cash doesn’t seem to be growing and has slid into a niche. What is your outlook?
MATI GREENSPAN: It depends how you look at it really. The number of transactions and the hashrate do seem to be increasing in the last few months. It’s nowhere near bitcoin but it does seem to be holding its own against the other currency tokens.