December and the world shifts to thinking about 2019 even as it has 1/12 of 2018 left for consideration. The future looking aspect of the cryptocurrency market drives much of the investment, writes Bob Savage Saturday.
but as we learned last week, the short-term trading noise gets in the way of clear crystal ball gazing. The haters of the space and the lovers find a bit of everything from last week’s price action with new lows followed by a healthy bounce.
This sets the tone for the predictions focus. The last week started to see a host of such 2019 forecasts for all markets with the crypto suffering particularly nasty prognostications. The predictions market maybe even more brutal than the real one in the weeks ahead. Paying attention to the present press maybe the best way to understand 2019 risks and rewards. The Kaspersky lab predictions being a case in point.
• Excessive expectations about the use of blockchain beyond the cryptocurrency sphere will disappear.
• Cryptocurrencies (BTC-USD) as a means of payment will decline further.
Reuters: Bitcoin for payments a distant dream as usage dries up.
• There will be no return to 2017’s sky-high exchange rates. Another prediction from Patrick Tan in the good audience blog suggests it may take a decade to prove cryptocurrencies themselves. “Given the hyper-accelerated boom-bust cycle of ICOs (initial coin offerings) in late 2017, as compared to the boom-bust cycle of the dotcom era, there is reason to believe that whether or not cryptocurrencies will prevail will be settled at an accelerated speed. A decade may seem like a long time, until you live it.”
What seems clear from reading both of these reports and their predictions is the need for social support to get the right balance of hype and capital to see the full capability of the space realized. One coin that Aditya Das in the Brave New Coin highlighted this week in its predictions was Tron.
As they noted, hype matters. While this may sound like a simplistic rationale for endorsing a blockchain asset, good marketing and PR has shown an ability to create strong buying interest in the retail crypto markets, which tends to dominate the space, particularly alt-coin markets, over institutional buyers.
Tron’s ability to generate crypto buzz has been a large part of it building positive price momentum in the past.
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