bitcoinBlockchainTechnology

FOMO Over BTC USD10K Breach; Interview with Ethan Ng CEO SEA of BiKi.com

The current Bitcoin markets have remained generally bearish in sentiment. The current BTC breach of USD10K, then the flash-crash to USD9.7K recently, with the subsequent rally to five figures again, has had the entire crypto market on its toes. BiKi’s Ethan Ng Addresses FOMO Over BTC USD10K Breach.

1) Please tell us about yourself and your experience with the Bitcoin market?

I am Ethan Ng, BiKi.com Southeast Asia CEO. I was handpicked for this position by Jun Du, who is also the CEO of Node Capital and Jinse. Before this, I was a former Marketing Lead of Huobi Global and am experienced in Southeast Asia expansion and startup growth hacking. In Huobi, I organized Blockchain Festival Vietnam, one of the biggest and most notable blockchain conferences to-date along with 30+ global meetups and 30+ live streaming episodes. Prior to joining the blockchain industry, I was a digital strategist and growth specialist with a track record in traditional banking and startups. 

I came into contact with the Bitcoin market when it was above USD10,000, which was pretty late. I have been observing its volatility in the following 16 months through highs and lows. Personally, I’m a bitcoin believer and I have adopted a cost-averaging method with regards to buying bitcoin. 

2) What is the current level of BTC demand and how is it affecting the market prices?

The level of BTC demand is high and is increasing. People are talking about buying the dip. With increased mainstream adoption and regulation, speculation and whales aren’t the only ones driving the price. In fact, government regulation drives the price positively, entry of mainstream firms like Telegram (GRAM) and Facebook (Libra) drives the price, even demand from people in developing regions who rely on BTC as a stable income over their national currency drives the price. This in turn ripples to average investors who want to hop onto the bandwagon as they see the price rising. So the current level of BTC demand is higher than before, which makes the price go up  steadily. 

3) Does this new price increase mean the crypto winter is over? How will this affect ETH and other crypto tokens?

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. So the question isn’t when is the bull run. We are already at a turning point for the bull run, just not a sudden shift to green in the market like the last time.

As BTC is the token that will affect market trends, other altcoins will follow suit, albeit at a slower pace in my opinion. Newcomers to crypto usually choose BTC as it is the biggest and most stable, while other altcoins like Ethereum still have some technology to catch up on (for now), which contributes to the fluctuating demand and trends in price. 

4) What constitutes attractive Investments? Crypto and otherwise?

Cryptocurrency has consistently displayed that it belongs to a higher risk profile of financial products due to its volatility. On some days, prices can increase by more than 100% and can potentially decrease by 80%. 

There are 3 strong points of attractive value in the cryptocurrency space, the first being low point of entry with low capital requirements to buy cryptocurrencies, the second being huge capital appreciation in very short times and the third being cryptocurrency markets unlike traditional markets, is operating 24 hours a day, 7 days a week, so there are plenty of presented opportunities for participants. In fact, less than 1% of the world’s investments are in crypto. While others have placed their money in gold and stocks, I believe there is great potential for these mainstream investors to see the value and potential in crypto.

Having said that, cryptocurrencies belong to a high-risk profile of financial products, users need to seek financial advice if unclear about one’s risk appetite. 

5) Comment on the current blockchain technology market.

The current market is no longer just about profit-making but focusing on new technologies. No longer are cryptocurrencies created just for the sake of it. In fact, Pascal Papara, CEO of our recently listed project, TELOS, mentioned in an AMA that many tokens used to have one single use and were created precisely because people felt like it. And then teams hope that people who share a common interest will invest in the token and gain traction. 

But now, after the crypto winter which weeded out dead coins and scam coins, only coins with a real use cases, with teams who aim to make the blockchain ecosystem better, remain in the market. And with increased competition from people who have gained experience and knowledge in the blockchain space (it is no longer in its infancy stages like in 2016, when no one knew about it), there is increased need for blockchain firms to focus on technology, to satisfy the token holders, to be beneficial to the ecosystem, or be weeded out by competition as well.  

6) Looking at the BTC investment trend, what are your price predictions? 

I personally feel that BTC prices will surpass the previous peak of USD$20,000 and that BTC price will hit USD$30,000 within this year. With the bitcoin halving, there are presently multiple bulk requests to purchase BTC in different markets from both institutions and individuals, in a rush to get BTC before the halving. With the rise of alternate coins, rise in popularity of DeFi  (Decentralized Finance), the discussions around CBDCs (Central Bank Digital Currencies) presently increasing in multiple countries, the market trend is towards more adoption and  mass public awareness. 

7) What is your advice for old and new investors in Bitcoin?

As a firm Bitcoin believer, the wait-and-see mentality is over, for people who are looking to get 

into the space, do study Bitcoin’s whitepaper and CoinDesk’s Bitcoin 101 lessons from 

https://www.coindesk.com/learn/bitcoin-101/what-is-bitcoin

8) Do you have more information for our readers?

The cryptocurrency communities are generally very active and helpful. Joining a few telegram or discord communities can help readers to understand what is happening and what are the communities’ concerns or new interests. We have a 24/7 community with community managers taking 12 hour shifts to assist with enquiries or any general questions. We welcome all newcomers to discuss with us on any cryptocurrency or blockchain-related topics on https://t.me/BikiEnglish

Follow BiKi on:

English Telegram: https://t.me/BikiEnglish

Vietnam Telegram: https://t.me/BikiVietnam

Chinese Telegram: https://t.me/bikicoin

Twitter: https://twitter.com/BiKiEnglish

Facebook: https://www.facebook.com/bikiexchange/

Reddit: https://www.reddit.com/r/biki

Medium: https://medium.com/@bikicoin

Youtube: https://www.youtube.com/channel/UCBDanAqRdF3881Q1GTBUUeg

The post FOMO Over BTC USD10K Breach; Interview with Ethan Ng CEO SEA of BiKi.com appeared first on TechBullion.

Tags

Related Articles

Back to top button
Close