Tag / blockchain 2018

Cryptocurrency forecast for 2018? - Part II.

Jan 15, 2018

Cryptocurrency market experienced three major correction in this year. This current drop can force us to think again how this year can be. Main ideas are about Bitcoin and Ethereum now. Which one will win this year? Can be another coin what can overtake current leading ones? What will happen on the ICO market?

The week of crypto-sceptic people

This week was not the best for most of cryptocurrency owners. Not just because of the prize-charts but because of the lot of news in regular sites where all of the publishers burrier Bitcoin and cryptocurrency market again. These days when we need to hear again the common phrases: "You were stupid why you spent money on Bitcoin" "Now you see it was a bubble" etc. What is the truth? It is possible to find out what happened or why the vlatility is so high? The answer is actually very simple.

First of all one year earlier Bitcoin's price was 900 USD. At the end of this year especially with 19.000 USD price most of the investors were really satisfied. This exit point generated an obvious price drop. Realizing profit from the crypto marcet meand smaller market capitalization, less demand and more sellers.

Beside this normal "event" we hade to face with one of the biggest problem of the cryptocurrency word. Maybe these are too serious words, but let's think about it:

Centralization on a decentralized world

If I ask you to tell me a website where you check crypto prices which one will you say? You will say coinmarketcap.com most likely. If I ask you to tell me a news website where you collect information what will you say? Coindesk maybe? The biggest problem with the crypto market that the information is extremely centralized. If investors read something good about a coin on the main news sites the price will jump to the skies immediatelly. If the main news sites write something bad about a coin it's simply killed.

To create a better environment for the crypto market basic changes need to come and decentralization needs to be completed not just ath cryptocurrencies but for the users as well.

Copyright © 2016 BCT