No Significant of Growth of Cryptocurrency this year, Says Buterin

No Significant of Growth of Cryptocurrency this year, Says Buterin

September 10, 2018 Off By Steven Anderson

There’s no possibility that the blockchain and digital currency will experience 1,000-time this year, this according to Vitalik Buterin co-founder of Ethereum in an interview yesterday.

At a blockchain and Ethereum meeting held in Hong Kong, Vitalik stated that the fast development of blockchain and crypto industry is now reaching a ceiling and is moving from “ only people being interested” to the level of real uses of real economic activity.”

He elaborated that the time of massive development in the field is likely coming to an end as the stage of superficial awareness regarding the business has considerably grown, and tend to plateau.

Buterin also commented that the first technique seen over the past 6 or 7 years in the community of crypto-based on marketing coins with the objective of great adaptation, has led to tremendous growth value and a market capitalization of lots of cryptocurrencies, but at this point that is getting close to end.

Crypto markets have experienced a drastic turn down regarding full market capitalization of entire digital currencies during 2016. In January, the market capitalization of all digital currencies hit USD828 billion. The highest in total market capitalization has been followed by a slow drop- with a rebound upwards during May- which has resulted in the current figure of USD198.8 bln, which is the lowest since November 2017.

But, while cryptocurrency markets have experienced a considerable turn down in 2018, still, the current figures are much more than those in the onset of 2017, when market cap stood at about $17 to $20 biln, and significant digital currencies like BTC and ETH were mostly trading below USD1000 and $12, respectively.

Recently, Bitcoin Jesus, Roger Ver told that the current bear market” seems like the reverse of a crash” given the fact that Bitcoin is by 58 percent for the last year, and 1048 percent for the previous two years.

Various crypto professionals have suggested multiple cases for the dynamics of coin values at the end of the year 2018.  Last week of August, Tom Lee of Fundstrat claimed that Bitcoin could end the year amazingly higher, citing a connection between it and rising markets and forecasting that BTC value can surge to USD25, 000 this year.

Alexis Ohanian reiterates his position that ETH and BTC will be trading at USD20,000 and USD15000 by the last quarter of 2018, respectively while Julian Hosp was still confident that BTC could hit USD60,000 in 2018.

 

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