Ethereum co-founder, Vitalik Buterin says there is no chance we’ll see “1,000-times growth” in the cryptocurrency and blockchain space again.
Blockchain & Crypto About to Hit the Ceiling?
In fact, he said the surge in blockchain and crypto industry is now about to hit a “ceiling”.
Buterin believes that the space is now transitioning from the stage of “just people being interested” to “real applications of real economic activity.”
He believes that explosive growth in this sector will likely come to an end. And that people have moved to a stage where a superficial know-how of the space is rapidly growing. “If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” he said.
Buterin believes that the initial strategies of the cryptocurrency community over the past 6-7 years have focused largely on marketing coins so as to catalyze mass adoption. This has culminated in a rapid growth in price and market capitalization.
Differing Opinions in Cryptocurrency Value
There has been a sharp decline in total market capitalization of all cryptos during this year.
However, Roger Ver, “Bitcoin Jesus”, said that the bear market “feels like the opposite of a crash.”
“BTC is up 58% for the last year, and 1048% for the last two years.”
Even Tom Lee of Fundstrat had famously prophecized that BTC “could end the year explosively higher.” In fact, he says Bitcoin could rally as high as $25,000
Co-founder of Reddit, Alexis Ohanian also emphasized that the top cryptos will soon be trading at $20,000 and $1,500, respectively.
And Julian Hosp of TenX said he’s “quite confident” Bitcoin will hit $60,000 in 2018.
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