An expert overview on economic signs the crypto market is indicating and what it means for its future. The views expressed here are the author’s own and do not necessarily represent the views of Cointelgraph.com 2017 was a breakthrough year for the crypto market for major coins such as Bitcoin, Ethereum, and Ripple, increasing awareness by the mainstream market, and innovative new applications of Blockchain technology drove impressive returns.
More importantly, this blistering pace for the entire ecosystem is being driven by increasing appetite on the side of investors, with no sign of abating. The breakneck speed at which the crypto market has expanded over the past year has not been without its hiccups and a fair share of skeptics.
For many veterans, the current craze for cryptocurrencies resembles the madness of the late 90s and the heyday of the Dot-com bubble. Trading volatility over the past few months hasn’t helped the rising voices of speculation.
That Bitcoin crashed by nearly half its value in a single day, or that this isn’t the only similar incident, prove that massive price swings are still a major concern, and the market is incredibly unstable. Others, however, counter that even if the industry were to face a bubble, it could lead to a more mature and innovative market.
David Stockman, Ronald Reagan’s former director of the Office of Management: “It’s basically a class of really stupid speculators who have convinced themselves that trees grow to the sky. It will burn out in a spectacular crash. Read more from cointelegraph.com…
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