BiKi’s Ethan Ng Addresses FOMO Over BTC USD10K Breach

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13th February, 2020, Singapore – ‘Is the crypto winter over’ has been a common discussion topic amongst cryptocurrency traders over
the past couple of years, as the markets have remained generally bearish in
sentiment. The weekend’s BTC breach of USD10K, then the flash-crash to USD9.7K on Monday, with the
subsequent rally to five figures again, has had the entire crypto market on its
toes.


Reaching out to Ethan
Ng
, Southeast Asia CEO of BiKi.com, one of the fastest-growing cryptocurrency exchanges that is currently
Top 20 on CoinMarketCap, Ng offers his insights.

“At highs, people
talk about buying the dip,” says Ethan Ng. “At lows, people talk about whether
the price will break or fall back.”


Indeed fear of
missing out (FOMO) is a common market inclination. The key, Ethan Ng stresses,
is to have a healthy overview of the market conditions on a macroeconomic
level.

BTC: A More Attractive Investment with Mainstream Acceptance

“Amidst the lack
of regulations in the past, BTC demand drove the market prices, to a point
where breaking the barrier became very difficult,” says Ng. “However,
currently, with increased mainstream adoption and regulation, there are other
forces driving the price. As a consequence of that, demand is likely to soar
faster, affecting prices positively. Mainstream users may not be interested in
blockchain, but they may follow the money.”

Touted by ardent
supporters like Max Keiser and others to potentially be the world’s reserve currency, Bitcoin has continually proven its resilience, the new public mainstream acceptance will
present it to be an even more attractive investment option to hodlers and
new-to-crypto traders
.

Projects and D’Apps Will Benefit

Speaking on the impact this would have for projects and D’Apps developing on other chains, Ethan Ng notes that their reserves, if they held a portion in cryptocurrency,  would appreciate in fiat value. This means that instead of focusing on fund raising, these projects and D’Apps would then have the space and manpower to develop and innovate in technology, providing real value to the blockchain ecosystem.

Based on the Gartner Hype Cycle for blockchain
technology, we have passed the stage of inflated expectations, reached the
trough of disillusionment and are now on the plateau of productivity. While
this implies that there would not be sharp peaks in BTC price, there would
likely be a corresponding cryptocurrency price plateau that is increasing.

“So the question isn’t when is the bull run,”
suggests BiKi CEO Ethan Ng. ”We are
already at a turning point for the bull run
, just not a sudden shift to
green in the market like the last time.”

Backed By Strong Fundamentals

While Ethan Ng
does not discount influencers or experts who predict the BTC price will hit 6
digits within the next couple of years, he advocates that under the present
circumstances, “the BTC investment trend
could be changing and move from being a highly speculative investment to one
that is backed by strong technology, governmental regulations and political as
well as social acceptance, thereby lowering its volatility.”

As more governments get on the bandwagon with CBDCs, more users from developing countries will see
value in cryptocurrencies, which is less unstable than their national
currencies.

Jun Du, Founder
of Node Capital and Co-CEO of BiKi.com, has a more
bullish outlook.

“We should look
at this from two different perspectives,” says Jun Du. “The next BTC halving
cycle in 2020 should cause a sharp rise in price. I personally think that by the end of 2020, the price of bitcoin will
reach USD50,000 and USD200,000 by 2025
.”

“In addition,
many countries, following China’s lead, have included blockchain technology
into national science and technology plans, which will accelerate the
development of blockchain, resulting in more applications of the technology,”
he adds. “In the future, in 2025, blockchain
will completely change the fundamental infrastructures and technological layout
of the world and this applies to all aspects of people’s lives
.”

About BiKi.com

Headquartered
in Singapore, BiKi.com is a global cryptocurrency exchange ranked Top
20 on CoinMarketCap. BiKi.com provides a digital assets platform for trading
more than 150 cryptocurrencies and 280 trading pairs. BiKi.com is focused on
providing the safest, most stable and most effective cryptocurrency trading
platform. 100% of the transaction fees are used in buyback and burning of
platform token, BIKI. Since its official opening in August 2018, BiKi.com is
considered one of the fastest-growing cryptocurrency exchanges in the world
with an accumulated 2 million registered users, 130,000 daily active users,
over 2,000 community partners and 200,000 community members. BiKi.com has
received investments from Huobi co-founder Du Jun, Genesis Capital Zhu Huai
Yang, FBG Capital, ChainUP and others totaling approximately 10 million USD.

Media Contact:

Marketing Team

Chang Jie Lin, BiKi.com

[email protected]

+65-94556702

Cecilia Wong, yourPRstrategist.com

[email protected]

+65-91826605

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