Post
Topic
Board Altcoin Discussion
Merits 1 from 1 user
Re: Is Crypto/Blockchain hype over?
by
Pearls Before Swine
on 13/12/2019, 20:54:10 UTC
⭐ Merited by CryptopreneurBrainboss (1)
2017 was believed to be the golden year of crypto and Blockchain technology as people invested massively across the market.
2017 turned into a bubble for bitcoin and a bunch of other coins, but I don't think blockchain tech made any progress as far as being adopted by real world businesses, organizations, or anything else for that matter.

And yes, prices for nearly all cryptocurrencies have declined since the end of 2017, but I wouldn't characterize that as the end of hype.  Markets move much like bitcoin's is doing right now.  Compare the nasdaq chart leading up to 2000 and what it did after April 2000.  It took a long time for the nasdaq to reach 5000 again after reaching its all time high, and maybe the hype was over for internet stocks at the time, but there wasn't quite the same hype for bitcoin leading up to December 2017.  Similar, but not the same.

In 2017, we saw not a “cryptocurrency heyday”, but rather some kind of crazy race.
I'd kinda agree with that.  It was a bull market and maybe even a bubble, and it popped just like all bubbles do.  That doesn't mean bitcoin is dead, tho.