Over the past three months there has been a sharp fall in the value of all major Cryptos. These falls have accelerated in the past two weeks in particular with Bitcoin now below $4,000.
Other major coins like Monero and Stellar have declined even more in percentage terms in recent weeks.
Is there an end to this ?
The declines will most likely continue and for the foreseeable future in this blogs view. The general public have simply lost interest in Crypto.
Those who began to buy Crypto at the start of year are potentially nursing large financial losses following the price falls. The wider investment community wants nothing to do with Crypto too after the reputational damage it has suffered following the price falls. Its viewed as unstable and a haven for scammers following a number of high profile events in 2018.
Crypto has we knew it in 2018 is probably finished. It is unlikely there will be any more high profile Initial Coin Offerings, national newspapers will not run Bitcoin articles in their business pages and venture capital will be hard to come by for any new ventures.
There are some new projects in this area though. Projects like Initiative Q may offer some insight as to where Crypto might go next. Its days as a potential rival to the US Dollar however are numbered, if ever that was even likely in reality.
The underlying concepts supporting Crypto will most likely continue though. The concept of a distributed ledger offering a robust record of particular transactions has to some extent been proven. The Block chain concept has become a brand in itself.
Over 2019 new and exciting projects will emerge but 2018 buried Crypto as we knew it.
Onwards and upwards.