During an interview on Bloomberg TV on December 3, Mike Kayamori, the CEO of Japanese cryptocurrency exchange and fintech company Quoine, predicted a new Bitcoin all-time high by the end of 2019.
The interview comes following what has been a nearly year-long slump in cryptocurrency prices. Kayamori said the 2018 slump was because “there’s nothing new, no catalyst.” He is expecting a recovery in the coming year, as Japanese exchanges settle in with their new regulations and financial veterans enter the market in greater numbers.
In the interview, Kayamori said many people thought $4,000 was the technical bottom for Bitcoin, but that level failed to hold as support recently.
When asked where the market bottom might be he said:no one knows” and added that “when you look at [historical] patterns and where things are going, I think the bottom is near.”
One sign of a coming bottom in Kayamori’s opinion is the recent shutting of so many Bitcoin mining operations. With…