In a recent report by Bloomberg named, [The Future of Cryptocurrency – Bitcoin & Altcoin Trends & Challenges 2018-2023] Juniper assessed the challenges of crypto currencies, with a spotlight on technical, social and regulative issues. The survey conjointly analyzed such problems like regulative developments across the market, exchange failure, hacker attacks, and blockchain forking and their impact on crypto volatility.
In line with Juniper, daily trading volumes with Bitcoin [BTC] have waved down from a median of around 360,000 on a daily basis within the end of 2017 to 230,000 in Sept. 2018.
Concerning daily trading values, they saw a downward trend from over $3.7 Bln to less than $670 Mln within the same period.
In the 1st Qtr of this year, crypto transactions on the market as a full reportedly amounted to slightly over $1.4 Tln, whereas in 2017 the figure was less than $1.7 Tln. By the 2nd Qtr, transaction values fell by around 75 %, with total capitalisation down to below $355 Bln.
Adding further Juniper stated:
“Based on activity throughout the primary first half of Q3, Juniper estimates an additional 47 % quarter-on-quarter call in drop of transaction values in that quarter […] In short, given our concerns around both the innate valuation of Bitcoin [BTC], and of the in-operation practices of the many exchanges, we feel that the industry is on the brink of an implosion.”
Juniper’s analysis echoes a recent analysis conducted by Diar, wherein the firm expressed that within the 3rd Qtr in 2018, San Francisco-based cryptocurrency exchange Coinbase’s USD volumes hit a 1-year low.