No. It certainly is not the end of crypto.
But it sure will end some pump and dump coins. Coins that existed purely for speculation will die. Many people are going to get rekt. But legit cryptocurrencies won't die.
They are here to stay and they are the future of money. I expect some of the current crypto companies with less than 300 million market cap to rise to above 10 billion market cap in 3 - 4 years.
This is of course my own assessment / estimate. Don't invest assuming these predictions will come true.
The coins that will stay are coins that have real utility. For example Binance coin. It is one of the best utility tokens and it hasn't fallen that low compared to its April high.
It is impossible to tell what will happen to cryptocurrency in the long run. But it the crypto market dump of the past week alone is not enough to arrive at any conclusions on the future of crypto. This kind of volatility is nothing new.
I'm not actually sure what kind of a future cryptocurrency will have as an asset class. Will Bitcoin become digital gold? It's certainly a nascent competitor of gold as a store of value. Bitcoin has some advantages over gold. Bitcoin is much more portable and much more difficult to steal or confiscate. Bitcoin is also easily divisible. It would stand to reason that as digitalization marches on, the role of Bitcoin as a digital value of a kind could become more important. One thing should be remembered, though, and that is the fact that precious metals are a heavily manipulated market. It looks like Bitcoin may become a manipulated asset, too.
Utility and security coins may have a brighter future. Utility coins like STEEM are a natural part of an open ecosystem like Steem. Security coins have the ability to bring liquidity to highly illiquid markets such as high-end real estate as a big advantage.
Personally, I don't think it is the end of cryptocurrency. I think things in the future are going to be much different than what we have seen over the past year though.
The technology that crypto currency is based on is very solid and many large companies and governments have picked up on it and are starting to use it. Even if they aren't specifically developing cryptos, anything that requires a record of transactions or some kind of database can benefit from blockchain technology.
Given that fact, I think for sure that blockchain in general is here to stay for a long time until something better comes along.
By default I think that also means that crypto currency will still be around in some form or another. I don't think any of us can determine what that will look like, but the fact that there are still projects being created and developed is very encouraging.
There is a project that is being released today that I am very excited about and as long as they have all of their stuff in order it should go great. Despite the downturn in the market.
Developers are continuing to create Dapps and other projects on the Steem platform as well. Though it is a lower number than it was in the past, people are still publishing content to Steemit as well. I think this proves that although the prices are down the activity is still great for cryptos.
There is still lots of trading going on and we have even seen a small recovery in some of the numbers already. I think that once the governments decide what they want to do with crypto and some of the weaker hands get tired of waiting around things will get better.
Likewise there have been some allegations of manipulation. I read the other day that they are thinking a group was propping the price at an artificial level for the past year or so. I think if they had not been doing that we would have seen a drop much earlier and by now we potentially would have recovered back to expected levels.
I wouldn't give up just yet, but I don't think many of us are going to get the kind of windfalls in crypto that people were seeing a little over a year ago. It is more of a long term investment now as opposed to a lottery dream.
I think it is exactly what the market needed. A good shake up and coins that have a future will survive. Investors will move away from the speculation coins and pick the certainties now.
2019 is going to be crazy times as the huge investment houses join and we have experienced nothing yet. Prices will sky rocket and it will be good holding a decent coin for once.
We are still in the infancy of crypto trading and it will start becoming real very soon.
Markets go up , Markets go down .....it's not always a reflection of the underlying fundamentals of a given project. Having said that , can a vicious downturn kill a project ? yes , it is possible but more likely is that people make money on fluctuations (up or down) so there is always pressure on both sides.
It would be quite foolhardy to think it is end of cryptocurrency since it BTC started from nothing and it is hovering at 4k , even if lands at 1k it is not end of cryptocurrency.
IMP : it may be end of cryptocurrency for many folk's journey who cannot afford to stay put while their portfolio is taking 90% red ink.
That is different than end of cryptocurrency as a project.
Highly recommend to watch this 30 secs clip for perspective:
It is most definitely not the end of Cryptocurrencies as even on this Bear Market developments are still being made on almost all Popular Cryptocurrencies and the Developers doesn't look worried to me at all about the Price action.
Then again there is the fact that Bitcoin has been the best performing Asset Class in the past 5 Years even in this Bear Market.
Plus history is proof enough that Technology always thrives at the end. You may know about the whole Internet Bubble/ Dotcom Bubble even when Telephone was invented it was ridiculed by the masses and now we see how it has evolved.
Blockchain Ledger Technology is the next big thing and acknowledge it or not but Cryptocurrencies are an Integral part of it and I believe it is for this reason that Cryptocurrencies are not going to End as of now.
No, it will not be the end of cryptocurrency. This is an impossibility, because crypto is not going anywhere, and there will always people who want to obtain it.
That being said, what many believe will happen, is that a large plethora is shitcoins will die off, and the coins that have a practical use value will begin to take over the space. What does such a scenario mean for a crypto like Steem? My guess, is Steem will be an especially attractive cryptocurrency to have in your portfolio.
Not at all - this type of massive sell off has happened before. What we are seeing is still the after effects of the 'bubble' of late 2017 where everything was inflated and over priced.
It seems like a leveling out of the market to more realistic prices, and more serious investors. We are seeing the shaking off of the final 'weak hands'. I can see soe major investors jumping in soon who are serious about the space and understand how markets work!
There are just too many good projects and to many people invested for cryto to die.
It is definitely not the end but what I can see is that it is setting the tone of a new beginning and a sustainable beginning.
When its the darkest the stars come out.
My friend please be patient and do not hear those noise around the crypto market, have a cup of tea/coffee and just relax.
Dump is an opportunity for investors, so it should not looked up as if, it is going to be the ultimate, there is no such thing called the ultimate in crypto market. It just swings from the bull phase to bear phase and vice versa just to test your patience, determination, emotion etc.
In crypto market patience is virtue and do not expect that every day will be a bull market and similarly do not expect that every day will be a bear market and do not get driven by those sentiments. Just watch it and enjoy these phases of crypto market.
No. Cryptos will be the transaction medium of the future. The projects and coins that have the most utility will stay but I think the majority of non use coins will go close to or to 0. Block chains will disappear when people no longer have a use for them. I expect steem to be around for many years as there are so many dapps that utilize this blockchainm.
The simple answer is - Of course not.
Another answer is- If it is the end, then see an end for what it actually is-
A turning point.
No it's not the end of crypto currency. However it is the battle of survival for the fittest. The fittest coin will definitely survive. Blockchain technology is being adopted by many companies which is increasing the long term worth of technology and crypto. Hopefully next year is the year of crypto. Coins which will survive during blood bath will reach maximum high. So, there is no need to get panic. All you need to do is be patience and HODL.
no .Crypto still not done all.