In a recent report by Bloomberg named, [TheFuture ofCryptocurrency – Bitcoin & Altcoin Trends & Challenges 2018-2023] Juniper assessed the challenges of crypto currencies, witha spotlighton technical, social andregulativeissues. The surveyconjointlyanalyzedsuchproblemslikeregulativedevelopments across the market, exchange failure, hacker attacks, and blockchain forking and their impact on crypto volatility.
In line with Juniper, dailytradingvolumes with Bitcoin [BTC] havewaved downfroma medianof around 360,000on a daily basiswithin theendof 2017 to 230,000 inSept.2018.
Concerningdailytradingvalues, they saw a downward trend from over $3.7 Bln toless than$670 Mlnwithin thesameperiod.
In the1st Qtrofthisyear, crypto transactions on the market asa fullreportedly amounted to slightly over $1.4 Tln,whereasin 2017 the figure was less than $1.7 Tln. By the 2nd Qtr,transactionvalues fell by around 75 %, with totalcapitalisationdown to below$355 Bln.
Adding further Juniper stated:
“Based on activitythroughoutthe primaryfirst half ofQ3, Juniper estimatesan additional47 %quarter-on-quartercall indrop of transactionvaluesin thatquarter […] In short, given ourconcerns aroundboththe innate valuation of Bitcoin [BTC], and of thein-operationpracticesof the manyexchanges,we feel that theindustryis on the brink ofanimplosion.”
Juniper’sanalysisechoes a recent analysis conducted by Diar,whereinthe firmexpressedthatwithin the 3rd Qtr in 2018, San Francisco-based cryptocurrency exchange Coinbase’s USD volumes hit a 1-year low.