BiKi's Ethan Ng Addresses FOMO Over BTC USD10K Breach
Reaching out to Ethan Ng, Southeast Asia CEO of BiKi.com, one of the fastest-growing cryptocurrency exchanges that is currently Top 20 on CoinMarketCap, Ng offers his insights.
"At highs, people talk about buying the dip," says Ethan Ng. "At lows, people talk about whether the price will break or fall back."
Indeed fear of missing out (FOMO) is a common market inclination. The key, Ethan Ng stresses, is to have a healthy overview of the market conditions on a macroeconomic level.
BTC: A More Attractive Investment with Mainstream Acceptance
"Amidst the lack of regulations in the past, BTC demand drove the market prices, to a point where breaking the barrier became very difficult," says Ng. "However, currently, with increased mainstream adoption and regulation, there are other forces driving the price. As a consequence of that, demand is likely to soar faster, affecting prices positively. Mainstream users may not be interested in blockchain, but they may follow the money."
Touted by ardent supporters like Max Keiser and others to potentially be the world's reserve currency, Bitcoin has continually proven its resilience, the new public mainstream acceptance will present it to be an even more attractive investment option to hodlers and new-to-crypto traders.
Projects and D'Apps Will Benefit
Speaking on the impact this would have for projects and D'Apps developing on other chains, Ethan Ng notes that their reserves, if they held a portion in cryptocurrency, would appreciate in fiat value. This means that instead of focusing on fund raising, these projects and D'Apps would then have the space and manpower to develop and innovate in technology, providing real value to the blockchain ecosystem.
Based on the Gartner Hype Cycle for blockchain technology, we have passed the stage of inflated expectations, reached the trough of disillusionment and are now on the plateau of productivity. While this implies that there would not be sharp peaks in BTC price, there would likely be a corresponding cryptocurrency price plateau that is increasing.
Chang Jie Lin, BiKi.com
Cecilia Wong, yourPRstrategist.com