I'm a core believer in cryptocurrency but the recent stage of the market is highly alarming and discouraging. Early January this year before Chinese New Year, market were bullish, booming and appealing and market cap was around 600B and above.
Slingshot to today July 2018, Market cap is sitting at $252 B. Lots of money has gone out of the market, people rarely discuss about cryptocurrency. Most depressing are the Weekly hacks and mainstream media propaganda, which causes FUD.
I really understand the hysteria but people need to chill for a while. With the rate of outflow of cash from the market, should the same trend continue till the end of the year most investors who has been waiting for the market to be stable will die of heart attacks?
Future:
The future of Blockchain and cryptocurrencies seems to be improving. In short, most IT development projects this days are been channelled to Blockchain. Blockchain Developer's jobs are floating in the market. Companies are self-vetting themselves before launching ICO's.
Since the market retrenchment, a lot has improved but market is still suffering from "Stigma of bad judgment". We do understand that even the Governments are not in tandem with the success of Cryptocurrencies, as such its logical to point fingers at them.
What need to be done:
We are moving in the right direction judging by the level of Blockchain projects. However, more need to be done regarding cryptocurrencies market. Marketing and smart promotion are needed to steam up the integrity of the market. Considering how Billions of Dollars left the market within days, reasonable potential investors are still sceptical about these market.
Conclusion:
Governments are still indecisive when it comes to Crypto Laws. Until government began to formulate policies or enact laws to protect investors, regulate exchangers and ICO's the market will continue to swim in the wave of speculations.
Finally, Mainstream medias need to educate people on the basics of Cryptocurrencies and Blockchain in general rather than being the agent of discouragement and fake news.
Great article thanks for sharing.
People get too crazy about it and they need to step back and look at the objective data. Although just look at the market from last year and it is still very promising!
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Nice one.. I will
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