According to the recent blog post was entitled as “What is going to happen in 2019,” Fred Wilson, venture capital investor predicted that crypto would not be a safe sanctum in the year 2019 heading a “weakening” economy. He is a business and American venture capitalist who has backed companies like Tumblr, Zynga, Etsy & Twitter. He is an early digital currency investor who has co-founded Union Square Ventures, a New York-based venture capital firm.
He suggested that major issues with the global economy, a range of events including a bear market in stocks & a “weakening” economy will make investors cautious of startup field. He strongly feels crypto as a sanctum irrespective of saying that, “there will be signs of life in crypto land in 2019.”
Wilson marked the number of promises made in the year 2017 as the momentum towards the next bullish phase. Amongst which only a few projects such as Algorand (the blockchain-based payment project), Filecoin (mining software project from Protocol Labs) and several smart contract platforms were able to compete with Ethereum (ETH).
There are chances that Stablecoin along with crypto gaming, non-fungible tokens, might see consumer adoption & significant progress this year according to him. Wilson further adds, “The area I am most concerned about are actions brought by misguided regulators who will take aim at high-quality projects and harm them. And we will continue to see all sorts of failures, from scams, hacks, failed projects, and losing investments be a drag on the sector.”
Since he himself had investments in the crypto world amounting to approximately 5% of his portfolio, therefore he believed that the average investors should be holding 3-5% of their digital assets in cryptocurrency in 2017.