Bitcoin [BTC]’s bear market is nothing but a bump in the road, says CCLA’s Bevan

Major players and enthusiasts in the crypto-verse spoke at the Bloomberg Crypto Summit on Friday, about the current state of the cryptocurrency ecosystem and expressed their views for the upcoming years for digital assets.

James Bevan, chief investment officer at CCLA Investment Management, referring to the bear market of 2018 for digital assets that is still evolving, said that he was bullish in specific areas of this nascent technology like the stablecoins, security tokens, and the digital/smart contracts.

He added:

“I don’t regard this as an existential crisis, I just regard it as a bump in the road and institutional investors have had plenty of bumps in the road in conventional currencies and transaction systems.”

The chief investment officer at crypto fund Bletchley Park Asset Management, Lewis Fellas, agreeing with Bevan’s point said that stablecoins still had room to improve. Furthermore, Fellas added that there could only be about 120 projects in developments in the aforementioned area and that they were in the early “innings of proliferation”.

He continued:

“I think we’re just getting started, we are only in the early innings of the proliferation, I can see a huge expansion.”

The crackdown by the SEC and CFTC are non-stop as there were a couple of exchanges and tokens that were slapped with laws for not complying with the regulatory framework. Regulations will be a part and parcel for the ever-growing and evolving industry of cryptocurrencies and blockchain.

Referring to the regulations, Ryan Radloff, chief executive officer of CoinShares said that it could be tedious and confusing if certain a group/area adhered to lower standards of regulations while some adhere to more stringent laws.

Marieke Flament, global chief marketing officer at Circle Internet Financial Ltd said:

“It’s good to see some larger countries step through and show the route, but I would not discredit the work that others are doing, because if you have no one starting then everyone is waiting.”