News, Editorials & Opinions

The Next Chapter Of Blockchain Is Market Consolidation
Apr 19, 2018
 

The cryptocurrency market acts like TV stuck in fast forward. It mirrors traditional market booms and busts but with breakneck speeds that feel more like horse betting than stock trading. The fast pace makes trading fun, addictive and heart wrenching, but it is not completely unpredictable. Cryptocurrency markets adhere to a psychology of disruptive technology. What is interesting is that Blockchain companies have managed to condense preceding market trends from a few decades to a few years.

According to research published by Morgan Stanley, Bitcoin and other respective cryptocurrencies are behaving a lot like how the Nasdaq did during the dot-com bubble but at 15 times the speed. Charles Hoskinson, Cardano founder and Ethereum co-founder, called it in early January. Amid the initial slip of the altcoin market, Hoskinson saw what many market analysts now confirm – a saturated market that was not able to sustain rising competition and diminishing interest. Hoskinson stated: “What's going to occur is a lot of these ventures that don't have strong fundamentals, don't have good tech, or just unrealistic projects, they will eventually run into some major wall they can't quite overcome.”

Source: CoinTelegraph (https://cointelegraph.com/news/the-next-chapter-of-blockchain-is-market-consolidation-expert-take)

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