In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation, and cryptocurrency adoption by different sectors of the economy.
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The cryptocurrency market acts like TV stuck in fast forward. It mirrors traditional market booms and busts but with breakneck speeds that feel more like horse betting than stock trading. The fast pace makes trading fun, addictive and heart wrenching, but it is not completely unpredictable.
Cryptocurrency markets adhere to a psychology of disruptive technology. What is interesting is that Blockchain companies have managed to condense preceding market trends from a few decades to a few years. According to research published by Morgan Stanley, Bitcoin and other respective cryptocurrencies are behaving a lot like how the Nasdaq did during the dot-com bubble but at 15 times the speed[2].
So, what is next for the cryptocurrency market?
The general consensus is consolidation
Charles Hoskinson, Cardano founder and Ethereum co-founder, called it in early January. Amid the initial slip of the altcoin market, Hoskinson saw what many market analysts now confirm – a saturated market that was not able to sustain rising competition and diminishing interest.
During an interview with CNBC[3], Hoskinson stated: “What's going to occur is a lot of these ventures that don't have strong fundamentals, don't have good tech, or just unrealistic projects, they will eventually run into some major wall they can't quite overcome.”
The enterprise cloud market may be a good indicator of what we can expect next. Think of Blockchain companies like Ethereum, Cardano and Stellar as platforms that
