Bitcoin and other cryptocurrencies will collapse by 90% within the next 12 months, analysts predict, but those coins that survive this correction are expected to grow tremendously.
On 7 May, US financial regulators, the US Commission on Futures Trading (CFTC) and the Securities and Exchange Commission (SEC), will hold a meeting at which they will discuss, whether Ethereum tokens should be classified as securities.
Source:
http://www.coinfox.info/news/9391-forecast-cryptocurrency-market-to-suffer-from-strong-correctionHowever, With the recent drop, cryptocurrencies are apparently overvalued. For instance, Dentacoin was once valued at $466 million. How many dentists and members of the global dental community are actually using the Dentacoin blockchain network to settle payments or rate clinics? How many users are actually utilizing Trons content distribution network and is it enough to justify its $3 billion market cap?
At one point, Tron was worth $18 billion. Dentacoin was also valued at more than a billion dollars. This was influemced by the arrogance of investors, and the choice of narrowminded traders aiming for short-term profits created short-term bubbles in cryptocurrencies that are simply not ready to earn multi-billion dollar market caps and millions of active users.