Bitcoin and cryptocurrency markets have faced unprecedented volatility recently. There was a huge price surge as mainstream finance started investing in Bitcoin, and then there was a plunge as rumors were that Asian countries are starting to regulate it. Simon Dingle, founder of Inves Capital told Radio Sputnik what lies ahead for cryptocurrencies.
Radio Sputnik: If we talk about what happened at the end of last year, and we know that there was growth at the end of the year and a small drop in January, but the extent to which it happened in December where you went from less than 5,000 to almost 20,000 in just a month, was that normal?
Simon Dingle: It is unprecedented, it hasn’t happened before. When was the last time that we re-invented the global financial system, it has never been done. So I think to make any predictions on how this plays out is foolhardy, but I also think it’s short-sighted to declare this a bubble or, in fact, to say anything about it other than we are in the midst of one of the biggest experiments in human history.
We are decentralizing the financial system, we have never done this before, and this is the biggest evolution of the financial system in history. Nobody can say with any certainty how this ends.
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