The blockchain and cryptocurrency sectors continue to be sporadic at the halfway mark in 2018, but they continue to prove to be exciting markets nonetheless. Here’s what industry experts had to say about Q2 2018 and what to expect for the rest of the year.
Much like the first quarter of the year, Q2 2018 posed some challenges in the blockchain and cryptocurrency spaces. That being said, the growth the overarching industry has seen is second-to-none and is indicative that it is here to stay for the long run.
In terms of the cryptocurrencies, bitcoin dipped to a 2018 low towards the end of the quarter, dropping to a staggering US$5,826.41 on June 24. In a previous interview with the Investing News Network (INN), David Drake–founder and chairman of LDJ Capital–said that with the rise in over-the-counter trading desks it’s not surprising that bitcoin has been down in 2018.
“[Over-the-counter desks] can easily manipulate the [bitcoin] price and push it down,” Drake told INN and explained that there are now over 100 OTC desks when there used to be only six major desks. Bitcoin ended the quarter at roughly US$6,376.62 on June 30, an overall 7.9 percent decrease from US$6,924.49 at the end of Q1 on March 31, 2018.
Looking at the blockchain market, big tech companies making investments in the space was a key highlight during the quarter, further solidifying the significance blockchain will have in our every day lives. As such, with Q2 officially over and Q3 2018 well under way, here INN is taking a look back at some of the biggest trends that happened during the quarter, and what investors can expect for the rest of the year. Read more from investingnews.com…
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