Stephen Ehrlich, CEO of Voyager Digital, has predicted the rise of cryptocurrencies over the next six months. In an interview with Yahoo finance, Ehrlich predicted an increase in crypto prices over the next six months, and an overall growth that “has no going back”.
CEO Ehrlich has given his thoughts on the current crypto market in an interview, stating that on the Voyager Digital platform they are experiencing a lot more buyers rather than sellers.
“Our top five coins in the last 24 hours have been Ethereum, Bitcoin, Cordano, Dogecoin a bit, and then the new coin we just put on, the Shiba Inu, that coin as well. So we're seeing a lot more buying in those coins, as people are looking for this rebound right now. And I think that's what's happening”
In answer to a question on the issues of regulation potentially posing a threat to the long-term growth of cryptocurrency, the CEO of Voyager Digital brought up the fact that Bitcoin has only been around for ten years, which when compared to the 200 years it took for the stock market to become electrified is a relatively short time-frame for regulation and adoption to occur.
The rise of cryptocurrencies is something that Ehlrich sees as inevitable, despite the current status of the crypto market, whether that is weeks, months, or years.
“There's only going to be about 21 million bitcoins ever in circulation. So just simple supply and demand economics say there's going to be more people wanting to get a limited supply of coins. So that price should go up.”
Despite the recent dip in the market, Ehrlich believes that Bitcoin is a logical long-term investment, and that over time the price will increase. In terms of Altcoins, Voyager Digital has seen a lot of traffic in this area, currently providing over 62 altcoins on their platform including Dogecoin. Ehrlich sees the importance of altcoins such as Ethereum, Cardano, and Polkadot, the company’s most popular altcoins, with Ehlrich describing Ethereum as “the backbone for all the NFT’s in the marketplace.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.