Proven technologies are different from those ideas, which are not very far out. When innovations are right next to the possible, it is just hovering to become possible very soon. So, when the time for crypto comes, the innovation will get the deserved limelight.
The innovation which is soon reaching an acceptable standard needs to get a good launchpad. With the technology gets better, the society will be ready to embrace it.
Bitcoin has been here for some time now. There are different varieties of cryptocurrencies, and almost all of them are innovations, which are adjacent possibilities, which can become the technology that the masses will be willing to adopt. Several of the other cryptocurrencies are considered to be weird offerings; however, when compared to the rest, Bitcoin is considered to be the least bizarre.
Several entrepreneurs are coming up with different kinds of cryptocurrency products with use cases with an enormous impact.
Reid, Deutsche Bank recently stated, “if central banks would continue to be aggressive, then alternative currencies will start to become more attractive.” He further felt that the current fiat-based currency system is unstable and is almost nearing its end.
When Bitcoin touched $20,000 in 2017, Reid commented that the printing of the money by banks could lead to the end of the value of paper money.
Anthony Pompliano, early this month stated, “Add in the May 2020 Bitcoin halving, and you have the perfect storm.”
There have been warnings from analysts that several cryptocurrencies might become bankrupt. This is being told at a point in time when the Bitcoin has completed its parabolic move and retracing its trended paths and several others thinking that it is the advent of the Altseason. The current Altcoin sentiment is compared to the year 2000 dot com bubble by many analysts.
Peter Brandt recently tweeted, “Many altcoins did benefit from the bull run in $BTC and many crypto maniacs expect alts to repeat – they are likely to be disappointed with a 2000 .com bubble analog. Following 2001-02 tech collapse, dotcoms with real value exploded the “alt” .coms went bankrupt.”
Despite the bubble trend, there will be some Altcoins which will do well and become valuable. He further stated that the privacy coins are the future.
John McAfee recently tweeted: “The prices of many solid altcoins hit ten times as bad as Bitcoin during the Bear market, yet many are based on sound economics, especially in the Medical field and in the Privacy coins which we all know will be the big winners. Privacy coins are the future.”