The co-founder of Ethereum ‘ETH’ Vitalik Buterin in an interview with the Bloomberg at an Ethereum and blockchain related conference held in Hong Kong said that thetherising growthof crypto trade and blockchainindustriesiscurrentlyreaching a “ceiling,” and is moving from “justfolksbeing interested” to the next phrase of “real applications of real economic activity.”
Buterin further explained thatthe amountof explosive growthwithin thesphereis probably finishingto an end now, a result ofthe amountof superficial awarenessconcerningthetradehasconsiderably becamemature, andis probably goingto plateau:
“If youdiscuss witha commoneducated person atthis time, they all probabilityhaveheardof the blockchainfor atleastonce. There isn’ta chanceforyet one morethousand times growth within thespace anymore now.”
According to Buterin, the initial strategy seen over the past 6 or 7 yearswithin thecrypto community –supportedpromotingcoins with the goal of widespread adoption – has resulted inlargegrowthvalueandcapitalizationof the manydigital currencies,howeverthatit’sfor now “gettingon the point ofhittinga deadend.”
Crypto markets have seen a dramatic decline in terms of totalcapitalizationof all digital currenciesthroughout entire 2018. In January, total market capitalization of all digital currencies hit more than $800 Bln’sMark.This heightin total market cap has been followed by a gradualworseningwith the presenttotal market capitalization figure of even less than $200 Bln as for now.
In thepessimisticmarketplace,several crypto expertshaveadvisedcompletely differentsituationsfor the dynamics of cryptocostsatthe endof 2018. In late August, Fundstrat’s Tom Lee claimed that the BTC “couldfinishthe year explosively higher,” citing a correlation between it andrisingmarkets and predicting that Bitcoin’svaluemaysurge to as high as more than $25,000 USD ending this year.
In July, co-founder of Reddit ‘Alexis Ohanian’ also predicted that the price of Bitcoin and Ethereum would be somewhere around $20,000 USD and $1,500 USD bythe endof this year.