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 the the rising growth of crypto trade and blockchain industries is currently reaching a “ceiling,” and is moving from “just folks being interested” to the next phrase of “real applications of real economic activity.”
Buterin further explained that the amount of explosive growth within the sphere is probably finishing to an end now, a result of the amount of superficial awareness concerning the trade has considerably became mature, and is probably going to plateau:
“If you discuss with a common educated person at this time, they all probability have heard of the blockchain for atleast once. There isn’t a chance for yet one more thousand times growth within the space anymore now.”
According to Buterin, the initial strategy seen over the past 6 or 7 years within the crypto community – supported promoting coins with the goal of widespread adoption – has resulted in large growth value and capitalization of the many digital currencies, however that it’s for now “getting on the point of hitting a dead end.”
Crypto markets have seen a dramatic decline in terms of total capitalization of all digital currencies throughout entire 2018. In January, total market capitalization of all digital currencies hit more than $800 Bln’s Mark. This height in total market cap has been followed by a gradual worsening with the present total market capitalization figure of even less than $200 Bln as for now.
In the pessimistic marketplace, several crypto experts have advised completely different situations for the dynamics of crypto costs at the end of 2018. In late August, Fundstrat’s Tom Lee claimed that the BTC “could finish the year explosively higher,” citing a correlation between it and rising markets and predicting that Bitcoin’s value may surge 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 by the end of this year.