After prolonged bearishness of the crypto market in 2018, market leaders in crypto are really wishing for a better year for the crypto space. A crypto firm executive talks about his expectations from this year regarding the development of digital asset economy.
The CEO and Co-Founder of CoinList, Andy Bromberg said that Cryptocurrency markets in 2019 are “going to be quiet for a little bit.” He believes that it will bring opportunities for firms to focus more on improving the crypto space. According to Bromberg, slower markets will usher the companies and entrepreneurs to further development in the space with more useful services and products. He thinks that the slower market scenario will result in innovations in the crypto economy. He states,
“[In 2019] it feels like people are focused on building… I think the market is going to be quiet for a little bit, while people focus on actually creating things. It feels like a little bit of a Mesopotamia, ‘cradle of civilization’ moment, where everyone has the ingredients they need, needs to focus in and start to build out those empires, and create what the future is going to look like, and that’s what this year is going to be about.”
Last time, crypto prices were surging significantly high in December 2017. After that 2018 saw a much undesirable downward trend in the crypto market. Even, during last one month, some of the top cryptocurrencies have seen major losses. Notably, BTC, ETH and XRP, are all down 9.5%, 22% and 15.5% respectively, according to their monthly charts. Moreover, a few big financial institutions are also expressing that the blockchain experiments have also died down along with the hype.
Bromberg emphasized that in 2017, a strong hype for ICOs was observed. After that, in 2018 the hype took a nose dive regarding ICOs, due to crashing prices and low volatility. The circumstances made many crypto entities leave the market in the last quarter of 2018. In the same time period, many crypto projects turned out to be a scam, or they just failed.
Talking about CoinList, it has only listed five ICOs since its establishment. The ICOs by CoinList include Filecoin, Blockstack, Props, Origin, and TrustToken. However, none of them has come up with a token.