Bitcoin Surges Again Early this Year as Stated by CoinShares Chairman

Bitcoin is expected to rally this year and reach its previous highs, CoinShares Chairman Danny Masters predicted.

But here’s what should happen before that; Bitcoin should have better structures and a life cycle post initial coin offerings which the fundraising process is helping launch new cryptocurrencies.

Bitcoin was found with a tag of $8,300 on Wednesday While the coin has recovered from lows earlier this year. The cryptocurrency briefly dropped below $6,000 in February while bitcoin is still far away from its mid-December peak that is was around $19,500.

CoinShares, which is an investment firm that specializes in cryptocurrency, that was launched at the world’s first publicly traded bitcoin and ethereum fund.

Investors has positive views that blockchain Week New York and Monday’s Consensus event would help push the price of the large-cap coin. But despite these expectations, Bitcoin has under-performed, down 5 percent since Monday.

Analysts pointed out that three years ago, the markets and number of people interested in Cryptocurrencies was very small. This week, on the other hand posts that more than 8,000 people showed up for Blockchain week in New York.

“We need to do more mature work around the ICOs, so that post ICO we have a token life cycle,” he continued. “And just give investors more clarity, better expectations, more transparency.”

“In derivatives, indices, pricing models and so on that go on around building a financial system. We’re nowhere near that part yet,” Danny Masters said.

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