Sonny Singh, the commercial director of BitPay Inc., in a recent interview for Bloomberg, talked about when, in his opinion, the bitcoin course would recover.
On the question of whether the crypto-currency market has reached a "bottom", Singh replied that it is difficult to give an unambiguous answer:
"Right now the market is focused on rumors. Someone will start working with crypto-currencies. Someone might not start. But I think that next year we will see events, we will see that Goldman launches trading in crypto-currencies, Fidelity launches bitcoin product, Square will start offering payments in bitcoins. Blackrock will launch the ETF. All this will become real, and we will see how the price will start to grow again.
BitPay has been operating in the crypto-currency payments market since 2011, while the volume of transactions increased by 328% compared to the same period last year.
"People with whom I communicate in the industry ... we have never been more optimistic. Business is not bad. We hire more people. We work with several global major brands around the world. Nobody stops. Everyone is moving ahead at full speed. Problem, I think in altcoyins. I am sure that they will not return to the previous levels, just as bitcoin will return. Fidelity, Blackrock, they do not run products based on altcoyins. They are going to launch products based on bitcoin, "he said.