What if 2018 is not the year of crypto

in #cryptocurrency7 years ago

So it seems to me that there is still a lot of hype and hope around in the crypto community. If you google for predictions on bitcoin value in 2018 most of them still are above ATH even though the current market is not that promising.

However in my opinion it is possible that the whole of 2018 will be a bad year for crypto and we will end up with Bitcoin being worth less then 5k in december. (and a similiar low total crypto marketcap over all)

What I am wondering is what this would mean. Will people still have faith and hodl into 2019 or will the hype vanish and the market collapse? What will happen to the mining industry ec.

Personally I think the second is not that unlikely. I believe the majority of people could move out of crypto after a dissapointing 2018 and same goes for the coins. I refuse to believe that projects such as Verge are created because they want to create revolutional technology. To me it is rather clear they are purely in it for the money, which probably applies to a lot of other coins as well, especially those resulting from ICOs. (Not trying to bash here, obviously the main goal of a company is to be profitable)

Anyway please don't see this post as FUD or predictions. And please don't tell me how this scenario is impossible and could never happen ec. ec. I just want to discuss a hypothetical situation and it's implications. Even though I am a developer myself and are in fact interested in the technology I as well hodl crypto only in hopes of the monetary gains. (With the exception of Dogecoin, which I only own because Dogecoin is fucking cool)

Also posting this to Steem just in case anybody wonders.

Sort:  

Congratulations @jackapple! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @jackapple! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!