[ad_1]
Was Nouriel "Dr. Doom" Roubini, Jamie Dimon and Warren Buffet right all the time?
Was the 2018 crash the end of Bitcoin? Are we all abandoning this decentralized finance system and accepting forever the rule of central bankers? That was anyway tulips, no …
Bubble? What bubble?
For those who proudly proclaimed that the action on end – of – year prices in the cryptocurrency markets was the ultimate bubble for the asset class, the performances of Bitcoin and the Other major digital currencies this year have been widely welcomed by both positive and negative responses. .
After this week's plunge, several mainstream media sources seem to have even understood the story that the party was over and those who believed in a solid financial future, backed by Bitcoin, were fools.
The United Kingdom is independent. In a reasonably reasoned article of the publication, evidence suggests that what we saw at the end of 2017 is nothing compared to what a cryptocurrency bubble would look like.
Of course, we really only found pockets of private interest for the asset class.
However, in the course of the year 2018, different financial powers have positioned themselves to take full advantage of the next wave of optimism regarding digital currencies.
After all, Fidelity, with its billions of assets, and the Intercontinental Exchange, which enjoys an unparalleled stock market reputation, are not going to launch their own cryptography products without anticipating a serious demand for theirs. existing customers and contacts.
The Independent reminds its readers that the Internet bubble (financial event often compared to the cryptography market) was several times greater than the total market capitalization of all digital assets at their highest point in 2017.
To support this, the CEO of the start-up blockchain Ambrous, Angel Versetti, is quoted:
"I would not compare the current state of the cryptography market to the Internet bubble. The scale of enterprise cryptography and enterprise "Internet" is not comparable. I do not believe we are or were close to a bubble with cryptocurrency. "
Versetti went on to assert that the current bearish movement of the market was only an important and natural correction.
The CEO then said that once the bankers and financiers get involved and the size of the market increases between $ 15 and $ 20 trillion, we could talk about the bubble.
The story repeats itself
Building on historical evidence, The Independent goes on to mention previous price cycles occurring in the number one digital asset, Bitcoin.
What we are currently experiencing is the fourth of these accidents and it is no different from the fall in Amazon's stock price, which dropped from $ 300 in 1998 to only $ 6 in 2000, before reaching the vertigo he knows today.
A radical new technology will always undergo cycles of expansion and slowdown. They start with some geeks saying, "It's pretty cool."
Second, the current capabilities of the technology are poorly understood and overestimated by the types of rapid enrichment. Finally, improvements have been made to make the breakthrough better equipped to realize the vision of these early developers. This cycle can occur multiple times.
#Bitcoin bubble story pic.twitter.com/NzSveKRV6E
– Dennis Parker⚡️ (@Xentagz) November 22, 2018
For Matthew Newton, an analyst at eToro, such comparisons with old bubbles are short-sighted:
"… It's a bit like proclaiming the end of the FTSE 100 at the end of 2008."
He then congratulated the community of cryptocurrency developers and developers who decided to stay in space during these recessions, claiming (as many have already done) that this is where the real work at the both for infrastructure and for protocols.
Related reading: Analyst: Bitcoin and Ethereum still have room, BTC can touch $ 3,500
Open the way for bulls
There is certainly a lot to add to this list of developers too.
Teams working day and night on second-layer resizing solutions, such as Lightning Labs and those aiming to bring greater anonymity to Bitcoin, such as the Samurai portfolio team, to exchanges creating larger gateways, As well as those working towards Private and Institutional Care Solutions, there's a lot going on behind the scenes that will only be reflected in the price when people burned in the last accident have had time to lick their wounds. .
Selected image of Shutterstock.
[ad_2]
Source link
