A lot has been said about cryptocurrency being a bubble, especially by people in positions of power, influence and governance.
Everyday somebody new has an opinion and that’s great. It keeps cryptocurrency in the news and I’d worry more if no one was questioning it. It’s new, it needs querying.
To be clear... I am a cryptocurrency advocate but I know that we’re in a bubble.
Rest assured, I believe wholeheartedly that cryptocurrency is the future and profit from investment is likely. It’s a modern day gold rush.
What I also realise is that much of the coins and tokens link back to products that will be nothing in 12 months. The same is true for the services, the commentators and profits currently being made. It’s the Wild West and that’s exciting but it doesn’t generate long term success, only unrest.
I see this bubble as a period where everyone tries to profit while blockchains and dApps wither due to coins and tokens being sold on a market driven by fomo and hodlers.
It’s an investors market, with stake equalling power and rewards.
The reality is, these coins and tokens are to incentivize decentralized networks, to motivate users and to sustain support. For the vast majority they aren’t investments and none are stocks or shares legally. Yet they are sold under the premise of trade via exchanges, especially during ICO’s.
This is why the market is a bubble. At some point this cycle will end and market value will be about tangible products with legal standing. The ramifications of this change will be massive.
I personally believe, this will be one of many bubbles and evolution's on this journey from fiat to cryptocurrency.
This is just my opinion of course. Please rip it apart if you believe I’m wrong.
