Is Milne Right? Is Bitcoin The Only Sure Thing?

Cryptocurrency investors and traders from around the world are eagerly awaiting the next bull run to occur. But the development of the next bull run will all depend on which public blockchains will become the defining names of the industry. Alistair Milne is an investor and entrepreneur based in the United Kingdom who shares the same sentiment.

Milne is well known on Twitter for his bullish statements about Bitcoin and other cryptocurrencies. He has even said that any new price highs for the leading cryptocurrency should perform better than that of 2017.

In a thread over the weekend, Milne said, “the probability that Bitcoin matches its ATH [all-time high] price again and doesn't then continue past it seems very low. Each wave of adoption is an order of magnitude bigger than the last.”

On average, the biggest digital currency is still trading eighty percent lower than it was at its peak in December 2017 when the token reached massive heights of $20,000 prior to a less than kind year to the cryptocurrency.

With a very consistent downtrend, there have been numerous accusation from some big players in the economics space that Bitcoin is well on its way to zero. A good example is Nouriel Roubini who argues this, but Milne protests this school of thought saying, “It takes time for sentiment to change. 30-50million [sic] people owning crypto is not the industry's peak.” Milne goes on to say, “the next bull run will decide which public blockchains persist for the next 100 years. I believe Bitcoin is currently the *only* sure thing”.

In addition to this, the UK based investor noted institutional investor interest and Bitcoin’s profile as gold version two in aiding the next round of adoption.

Back in December, the CEO of the Japanese fintech company and cryptocurrency exchange operator Quoine predicted that Bitcoin will hit all-time highs this year. As reported by CoinTelegraph, before this, the infamous investor, Michael Novogratz claimed the leading cryptocurrency could pass the one time $20,000 high by the turn of the decade.

In terms of price, Bitcoin has had a rough weekend dropping below $3,600 key resistance level. The leading crypto is currently trading at $3,578 after losing 3.29 percent over the past 24 hours.

What are your thoughts? Let us know what you think down below in the comments!