Popping the Fear of the Blockchain Bubble
Maybe you’ve heard it before. The blockchain bubble is going to pop.
Nouriel Roubini of Global Times, certainly has a grim outlook for cryptocurrency. According to his findings, leading coins such as Ether and Litecoin has fallen over 80% while the rest of the digital currencies have dropped by 90-99%.
Doomsayers are simply waiting for the bubble to burst and all the digital coins in people’s hands to turn zero.
Is this the end as they say?
The Bitcoin Bubble Situation
To understand the blockchain bubble situation, look at one of the most recorded history of cryptocurrency: Bitcoin.
Since its peak last 2017, the Bitcoin price has fallen around 70%.
However, in an interview by Independent on Ambrosus CEO Angel Versetti, was firm in his professional opinion.
“We are experiencing a strong correction, but the bubble has not formed yet. All the bankers and financiers jumping onto the crypto train signal that the bubble is yet to come. I think when all cryptocurrencies and tokens will be worth 15-20 trillion USD, that will be a bubble.”
Traders, users and investors are optimistic and currently holding their bitcoin; waiting for its price recovery again.
Unfortunately, fame and brand may not be enough for Bitcoin to stay afloat. Especially, when other cryptocurrencies like Litecoin do a more efficient job than Bitcoin in terms of payment and transactions.
Will Your Cryptocurrency Pop?
As more people become crypto-savvy, the demand for efficiency and speed of transaction becomes high. People began to compare blockchain services.
The blockchain company to answer efficiency and speed of transaction wins in the long run.
So ask yourself, how fast is your cryptocurrency compared to others?
Preventing the Pop
In order for the blockchain technology to be stabilized, many have stand for greater regulatory supervision.
Chief Commercial Officer of Cryptology, Herbert Sim supports for the more regulatory oversight for cryptocurrency.
“Institutions and governments alike are beginning to accept that cryptocurrencies are likely to become an integral part of the financial system. Regardless of price moves, it’s clear that the cryptocurrency community is here to stay, with institutions offering new modes of trading such as options, futures and trading on margins.”
How about you? Would you agree to have a greater regulatory oversee supervise what’s supposed to be a decentralized system and technology?
This article originally first on Westrend: https://westrend.io/2018/12/21/popping-the-fear-of-the-blockchain-bubble/