Bitcoin to Lose its Dominance over the Years while Crypto Market in for an Exponential Growth: deVere Group CEO

As Bitcoin marks its 10th anniversary, Nigel Green of deVere Group is now predicting at least a 5000% expansion of the crypto market in the next decade while Bitcoin will drastically lose its dominance and influence in the crypto space to the likes of XRP and Ethereum.

Crypto market to grow beyond recognition

Nigel Green, the founder, and CEO of deVere Group, an independent financial advisory organization that also launched the app deVere Crypto, earlier this year shares his views on crypto market:

“Next week Bitcoin, the original and still largest cryptocurrency by market capitalization, celebrates its 10th anniversary. Bitcoin is what kickstarted the crypto revolution and it has changed the way the world handles money, makes transactions, does business, and manages assets, amongst other things, forever. It all began with Bitcoin.”

He further continues with,

“However, whilst I don’t wish to rain on anyone’s parade, I believe that Bitcoin’s influence and dominance of the cryptocurrency sector will drastically reduce in its second decade. This is because as mass adoption of cryptocurrency grows, more and more digital assets will be launched – by organizations in both the private and the public sectors. This will increase competition for Bitcoin and dent its market share.”

Green’s remarks came a week ahead of 31st October that celebrates the 10th anniversary of the release of Bitcoin whitepaper by Satoshi Nakamoto. According to him XRP and Ethereum could emerge as the winners as he shares with a media channel,

“I believe that…XRP will be one of the main digital assets to dent Bitcoin’s market share over the next few years due to its apparent focus on integrating with banks and other financial institutions. Another one would be its current main challenger Ethereum. This is because a growing number of platforms are adopting Ethereum as a means of trading; there’s an increasing use of smart contracts by Ethereum; and due to the decentralization of cloud computing.”

Bitcoin might see some stiff competition, but the crypto market is looking for huge expansion in the coming times:

“There’s an ongoing shift away from fiat money, and the momentum of this is only set to increase over the next 10 years. The pace of mass adoption will speed-up and the cryptocurrency market cap can reasonably be assumed to reach at least 5000 per cent above its current valuation over the next decade.”

As for how exactly the growth from billion dollars to a trillion dollar market will be achieved, Green explains:

“A growing number of major institutional and retail investors, as well as financial institutions and regulators, amongst others, understand that cryptocurrencies are the future of money. As such, the market will have grown beyond recognition when Bitcoin celebrates its 20th anniversary.”

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Abhinav Agarwal :A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help few notable startups in generating initial traction. Reach out to me at abhinav@coingape.com