And Bitcoin will go up to $40,000 dollars!
A kind touch of drama to alert of the revolution opportunists, on a talk a few days ago Llew Claasen, the executive director of the Bitcoin Foundation, alerted the audience saying that in his opinion, by the end of this year Bitcoin will hit the $40k usd mark, and 90% of the cryptocurrencies will fail.
Taking his opinion with real interest, lets say that indeed 90% of current 1542 cryptocurrencies and company tokens will fail, that leaves around 100 plus projects will remain, survive and maybe become stronger. The top 100 at CoinMarketCap fluctuates a lot, but still this a good opportunity to reflect on what kind of coins have the potential to actually have a real future. What investment in the crypto realm has a team and product strong enough to survive a maturation on the investors mindset.
In 2018 we see bigger projects taking form, meaning more competition leaving spaces to taker overs on market share, and more professionalisation of the sector, with more regulations and big money being poured into the crypto market, more will be asked from it, the investors will claim a different type of relationship. More scrutiny to crypto companies will leave the unprofessionalism in ones a label for possible scam, less transparent or small projects will be behind if not left out for legal validation which is a foreable frame.
On an interview with Business Insider Claasen said that he believes that investors are already being more careful, declaring that “this is a problem the market is good at solving."
Which are your top projects you believe will survive? Please share your opinion in the comment section.
Thank you for reading.
Cheers!
great article but i think the number of projects will rise
nice photo..great thinking sir.....
Lmao there's ~1542 right now, but in a year I'm expecting it to be at least ~2000? And you're telling me that only the top 100 will survive? What does that person mean that it will 'fail'? As long as there are people who invest in crypto, there will always be a rise.
Sure, investing in every crypto that is out is stupid and that way the majority of the market will be scattered between a few main altcoins, SURE. But it depends on what they mean by 'fail'.
I guess he means to see at the current 1500+ and only 10% will keep going, there will be new ones, all the time, like a savage market with coming and going players and only a few really stay over the time. Thank you for reading @vishire
Well, that was a given, coins will come and go, that's how this market works, but I'm pretty sure most of them will be ongoing even though they cost close to nothing, that will be the market.
In the future a lot of tokens are going to be pegged to be able to use them as a currency and the price fluctuation is going to be controlled for easy methods of payment for people in the crypto field to get paid.
Failing of cryptocurrencies in this context probably means that they just won't go as high as the rest of the main altcoins that will likely to succeed.
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Yes, nice Post
I believe it. I also agree that the 90% is about existing coins or tokens that will fail. But, many more new coins or tokens will rise and they will also fail at rates similar to ANY small business or inventions.
Not to worry about who / what will survive or who / what will fail.
I have only 7 simple rules, but, they have been time-tested in many investment areas:
https://steemit.com/trading-rules/@freedomshift/7-rules-for-trading-investing-hodl-virtual-assets-aka-crypto-currencies
Please let me know if I can help.
All the best!
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This is very interesting take on the upcoming year. I have been listening to Gerald Celente a lot lately and he keeps saying that we will see a global market collapse of the fiat markets by the end of this year. Do you think that will perhaps push crypto further up in value since it is essentially inflation proof.
I mean if the value of the dollar collapses and it take $200 to buy a loaf of brad then $40k bitcoin sounds pretty damn cheap. What do you think we might see if we do in fact have a fiat collapse? Certainly $40k bitcoin wont be the reality, it would have to be much much higher.
By the way I found this post on @jerrybanfield's #resteem-request channel on discord
Thanks for the conversation. I think Claasen is full of it here. We will certainly see a lot of projects fail, just like startups, but why we won't see 90% fail is because they aren't all competing for the same piece of pie.
Many of the new coins are focusing on niches -- not trying to be the next Bitcoin or Ethereum. I think getting projects funded might get harder, but we will see more coins, not less.
Bitcoin at 40.000$ at the end of 2018? Sure, I can even see it at 50.000$.
Only 100 crypto companies remaining? Highly unlikely. It will take a few years for that. It's still too early in the game for that to happen.
Cryptocurriences fail and new ones arise all the time. Even I've created my own cryptocurrency, nothing's being done with it yet as it's oriented project is still on the back burner. I do see a lot of them failing, but I also see more coming out. The ones I think that will survive will likely be Bitcoin, EOS, Steem, Litecoin and Monero. I've no information on other cryptocurrencies besides "De-Paws-It" which hasn't even been released yet due to lack of development on the proof of brain network (my project).