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Screenshot of a breaking news alert e-mail from Q2 2017
Some experts already call these several weeks of January, 2018 “red”ones, as alt coins are plunging with lightning speed. Bitcoin is currently down with 9%, trading just under $11,000. Despite the “blood” on the market and pain of investors, the CEO of Shopin, Eran Eyal said that he “has no doubt” that Bitcoin’s price will reach $100,000.
Shopin is a technology company that makes “shopping personal”. According to the website, Shopin is in the online retail play and Eran Eyal is a startup veteran with 3 exits as a founder. Apparently, Mr. Eyal brings a wealth of retail and tech experience and the company is already in private pre-sale token stage.
In a recent interview, Eran expressed his positive outlook on the value of Bitcoin. He emphasized that it is important to separate bitcoin from other types of cryptocurrencies such as ethereum or Ripple. He said each cryptocurrency has its own “business model” to differentiate from one another and their value are assigned accordingly. Bitcoin is very different from other cryptos, such as Ethereum, since the “people’s currency” serves as a store of value, while Ethereum is more like a “platform”. Mr Eyal used the example of Ethereum and said it is a platform for building “exciting technologies”.
As reported by CNBC, Mr Eyal shared:
“I have no doubt that bitcoin is going to reach well-beyond $100,000. Have a look at how it has climbed over the past. I think it’s important not to just look at it at this moment in time but also to look at it historically at what has happened around the world.”
He said that even when the US shut down crypto exchanges three times, the crypto market is still alive and well. The reason why different countries are now trying to ban digital currencies is that it takes time for them to understand and integrate the idea of such new type of money. Each culture is different and therefore, the perception of digital money is also different.
The freedom and decentralization that Bitcoin provides is essential to the success of the crypto. The very idea that one can buy anything electronically without an intermediary or a third party, allows for flexibility and financial freedom to unseen levels. Such levels are the major reason why governments and central banks around the world are now trying to curb the crypto mania by introducing a series of crypto-specific regulations. The latest example comes from South Korea and their intention to impose a tax on the biggest South Korean cryptocurrency exchanges.