- The crypto industry has been in somewhat of a slump since 2017.
- Following the leading cryptocurrency reaching a high of $20,000 at the end of that year, things just haven’t been the same.
- There’s been news of volatility, ICO scams, collapse exchanges and more.
The crypto industry has been in somewhat of a slump since 2017. Following the leading cryptocurrency reaching a high of $20,000 at the end of that year, things just haven’t been the same. There’s been news of volatility, ICO scams, collapse exchanges and more. But that being said, some people will tell you that the crypto space is just on the edge of something great. With the market evolving every day and the bitcoin halving is just around the corner, it’s safe to say that this industry is maturing and is having a more balanced approach to different aspects of finance.
Many people are predicting that bullish activity is but days away but with this in mind, people need to realise that the world of crypto and its assets are not as they used to be. I just mentioned ICO scams but the age of initial coin offerings is just a thing of the past. However, the initial exchange offering model seems to be the next big thing albeit a struggling one.
The dominance of bitcoin is seemingly increasing all the time but with an increase in bullish activity, a new phase could be on in successive stages over time. There’s also the government that is something needed to be considered. Regulations are now all that is talked about and has got over the attention in the crypto industry. This is funny because governments don’t really understand how crypto and blockchain works, so why should they regulate it?
Whereas that is a conversation for another day, it’s still very relevant in the industry.
How likely is it that we will see the industry get close to how it was in 2017? With all of this in mind and more, it would be risky to get your hopes up. As pessimistic as it sounds, we know how volatile and disruptive bitcoin can be, and wherever bitcoin goes, the flock follows.
With the bitcoin having events just around the corner, many people are highly dissipating what could happen for the king coin.
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!