Whenever the price rises, the doom mungers are all over it, mostly the press who are liking cryptocurrency to the .com boom and bust.
I think they are wrong and I’ll tell you what I think will happen.
The bubble surrounding ICOs with worthless tokens and coins that mean nothing, generated with the sole purpose of raising large amounts of money and preying on the speculative investors. This will burst and there will be tears.
Ethereum will suffer initially with it being the playground of all these worthless tokens and coins. This will correct itself and settle around $150 - $200.
Bitcoin will increase in price and more will flood towards it. Those who are priced out of owning large chunks of bitcoin will invest in Litecoin and this will be tugged upwards on the rise of Bitcoin.
Ethereum will pick back up, but maybe not to the levels of Litecoin. Litecoin I believe could be the new viable token for smart contracts.
When will this happen? I have no idea, but I don’t think my prediction of how it will play out will be far away from reality.
Just my opinion
what do you think about steem?
Okay my thoughts on steem... steem being an Alt coin/token it would normally fall in to the pile of tokens that I would deem as no value or useless, but I do believe steem has a future.
Look at what we have now, we have a platform that allows people like us to publish information and our thoughts and be rewarded for this.
No other platform that I’m aware of does this. Steem is one of the few working blockchain applications and the growth of its early usage base is impressive. Look at us now, we are using a blockchain application and you wouldn’t even know. it.
The value of steem will be pulled along with the rise in Bitcoin, it’s the driver for all but a few tokens. Bitcoin rises the others follow, Bitcoin corrects itself and the altcoins/tokens suffer too.
Steem in my opinion has a future and a bright one at that. One of the founders of steem is also a founder of EOS I’ve seen the price of EOS dive after the ICO, but I believe it too will flurish when it finally brings a working application based upon it. I’m not recommending a buy on EOS, but there is definitely room for spectacular movement north.
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