A key member of the crypto community says they don’t think Bitcoin has not yet reached its value.
Ann-Kristin Iversen is a real estate investor and developer and investor in Ripple’s XRP. She believes that the real world use cases of the currency will allow it to better withstand the volatility of changing market speculation.
The value of a bitcoin rose from $ 9,500 to $ 3,700 in 12 months, peaking at nearly $ 20,000 in January.
The battle for the future of Bitcoin Cash, which was spun off from BTC last year, has hit the market hard in recent weeks: the fourth largest cryptocurrency was effectively split into two different currencies when two software development teams couldn’t agree on the most appropriate way to go about it update his code.
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“I think Bitcoin is in trouble – and I think we haven’t bottomed out yet,” said Iversen. “To see how the egos of a few men can practically contain the market is terrifying!
“In my opinion, BTC’s claim to full decentralization is a myth … and that [environmental] The costs of his POW (Proof of Work) for the environment and the large mining pools in China are bothersome. “
→ READ MORE: ‘RIPPLE BECOMES CRYPTO’S MICROSOFT’
In contrast, XRP was worth 24 cents a year ago and was 52 cents this month – a doubling in value in 12 months – although it has dropped back to 35 cents at the time of writing.
It peaked at nearly $ 3.50 in early January before settling down as the crypto bubble cleared.
“XRP is faster and cheaper than other mainstream cryptos – and it has real use cases. As the current market shows us, pure speculation is not enough, ”said Iversen.
“One of the key elements of Ripple’s success is that they focus on one main use case: cross-border payments for financial institutions and banks. This has enabled them to create a product that is a huge improvement over the current system.
“Where other cryptos avoid banks, these are the customer base for Ripple. RippleNet is now connecting major banks around the world and they are winning new partners every week.
“When it comes to crypto, acceptance is the value. It will take time – but due to the good timing, they are way ahead of the others. “
XRP has now officially held its ranking as the world’s second largest cryptocurrency by market capitalization for the longest period since 2016. https://t.co/qUFsBMTHgW
– CoinDesk (@coindesk) November 26, 2018
Iversen says another area Ripple’s technology supports is in micropayments, where people can send very small payments without incurring costly fees, which “opens up new markets in other parts of the world.”
She names examples within the XRP community, including the XRPtipbot, created by Wietse Wind; Wandering Ware’s XRP tree project to make the XRP validator network carbon neutral; King Blue XRP’s charity for cancer-fighting children’s hospital St. Jude and Zerpzilla’s # NoKidLeftCold campaign.
“I believe that 90 percent of the cryptos we see today will be gone in a few years simply because they lack real use cases,” added Iversen.
I wholeheartedly believe that if any cryptocurrency can be successful in the long run (and with a use case!) It will be $ XRP.
If XRP can’t do it, with a BRILLIANT and well-financed company that is committed to it along the way, then no other crypto has a chance either. # Sorrynotsorry https://t.co/lJLv5ivyUd
– Tiffany Hayden (@haydentiff) November 25, 2018
Iversen admits that no one knows exactly where the crypto market is going.
She believes XRP is an “excellent long-term investment” but points out that this is not direct financial advice.
“BTC has seen five major corrections so far, and the recent bear market of 2018 is by no means the largest correction,” she said. “So it could return to its former glory and beyond.
“One thing I’ve learned is that crypto is unpredictable and shouldn’t be speculated on price. There are too many unknown factors.
“We can always hope, but honestly I don’t think anyone knows.”
#XRPCOMMUNITY – While you live, work and sleep, have peace of mind in the fact that there is an amazing company out there around the clock that is working with hundreds of financial institutions to drive the adoption of #XRP. How the other crypto investors stay positive I don’t know … #HODL
– Mr. B XRP ?? (@XrpMr) November 26, 2018