In his interview with Bloomberg, Vitalik Buterin, Ethereum co-founder, said that there is no chances for the crypto market to go through a blasting growth again. Whether it will be so or not, let’s check how the crypto market can be turned to steady growth.
For the beginning, we shall make clear what reasons were sufficient for a vertical jump of crypto currencies in the last year. It will help us to understand what kind of blockchain and crypto currencies, this sector got a strong and long-lasting support. First, there were innovation enthusiasts, then wider audience became interested. It resulted in hype around Bitcoin and crypto industry as a whole. Hype caused more hype. It lead to a situation when people started to feverishly invest in crypto without considering future risks of market decline. For crypto coins, it was an avalanche boosting their values and making people to invest as fast as possible. This situation caused a wave of flourishing ICOns in 2017.
But we all know the nowadays state of the crypto market. From the beginning of 2018, it was an abrupt fall of crypto currencies’ prices. People started looking for stability and possibilities to slower the decline.
But are there really no chances for crypto growth in the future years? Is it really so? Definitely no. Blockchain-related crypto currencies are a revolutionary innovation for value transactions. The main problem to solve now is a continuous decline in the market. It must be overcome, and below we will explain how.
For many, “crypto currency” and “blockchain” are totally new words making a link to possibility to get easy and fast income without any efforts. When such a prospect became foggy due to the market downturn, many started to withdraw funds. A remedy here is better awareness of the technology and its applicability. People have to know more about the blockchain essence and why it became so popular. More awareness will lead to more trust.
We have just mentioned applicability of crypto coin, and it is the crucial point for the case. Usability matters: the wider blockchain is used, the more confidential its perception will be. Without a doubt, extensive use of the blockchain technology will stabilize the situation for the main coins, and for minor ones, as a consequence.
Legal regulations for the crypto industry is another disputable point. Masses of people believe that crypto currencies are somewhat illegal or another useless invention. But with legal confirmation of the crypto currency status and its adoption among national elites, attitude will change to a far more positive one.
Change of attitude is the final point resolving the ongoing mistrust to crypto-currencies and making the market growing again. It's a long-term goal, but we are full of optimism since the blockchain technology is robust and promising.
