Cryptocurrency - 'Third Wave' is coming?
Cryptocurrency is Rocking. We This amazing growth of Cryptocurrency is attract many investors and reputed organization. Till now, we see two huge financial growth and price momentum of bitcoin, Ethereum and all other major Cryptocurrencies. The Bigger question is that ,did we see the the 'THIRD WAVE' of Cryptocurrency? We can't predict future but we can analysis it:-
Third Wave is Coming
For last nine years we are watching and try to predict the growth of Bitcoin and other Cryptocurrency. Bitcoin is starting to get attraction at the beginning of 2013. On that it's price going upto $1,200 but unfortunately that growth was fake and created a bot named 'Willy Bot', which is pushing the price of Bitcoin this high.As a result we see a massive brake down of Bitcoin price throughout most of 2014 and early 2015.
We observe 'Second wave' of Cryptocurrency in earlier in the year 2017. See all to see Bitcoin price over $3000 and surprisingly the price of Ethereum surpassing the $400 mark. we see a lot of positive momentum here.
However, bullish markets never last forever. Both Bitcoin and Ethereum are going through a bearish period right now. Despite this, Bitcoin price still hovers around $2,450 and Ethereum is trading above $250.
It looks like market will stay bullish for sometime and so all major cryptocurrencies are now running in red.
All major cryptocurrencies are in the red, and it looks like the market will continue this bearish trend for quite some time. In fact, there is only one currency in the top 50 which has not lost value over the past 24 hours. Looking at the top 100 currencies, only 7 have not lost value.
Nowadays we have to look for the bigger picture for cryptocurrencies, because cryptocurrency investing is not a short-term gains these days. Bitcoin has been one of the world’s best-performing assets since 2012. It has seen many setbacks but always comes back much stronger.
In fact, these temporary setbacks are not reducing the optimism among Bitcoin price speculators by any means. Bobby Lee, the CEO of BTCC, stated how Bitcoin can be worth between “$5,000 and $11,000” by 2020. Granted, that is quite a wide price gap, but it would indicate the Bitcoin price will at least double in the next three years. There will be another Bitcoin block reward halving in 2020, which means less “new” coins will enter the ecosystem every day. It also gives Bitcoin three more years to mature and gain more mainstream traction.
Fred Wilson, the managing partner and co-founder of Union Square Ventures, feels Ethereum’s market cap will ultimately grow larger than Bitcoin’s. That is a bold statement, especially when considering Bitcoin’s market cap may very well double, triple, or even quadruple by 2020 if Bobby Lee is correct. However, it is unclear how many Ether was in circulation at that time, as Ethereum has no fixed supply cap, unlike Bitcoin. Assuming there is 100 billion ETH in circulation at that time, it would put the value of one Ether at the US$850 mark. This is a very optimistic outlook, and one speculators would certainly appreciate.
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