We have all heard the predictions of enormous gains in the crypto markets. “They will rise to $200K this year!” or “We have seen the end of the crypto bear market!”
Statements like these have come and gone, yet cryptocurrencies remain far lower than everyone assumed they would be. Actually the key word here is “assumed.” Many enthusiasts have out of a necessity to breathe life into their own cryptocurrency fantasies have projected what they want to happen onto the markets.
There is absolutely no evidence to suggest any of the bullish predictions will come true. Yet, many early adopters keep holding out hope.
Those of us with any connection to Forex sees certain parallels to how traders deal with both fiat currency and the current crypto markets. Yet, this sort of paradigm is beginning to fade. True, this leaves prices lower than expected, but allows for cryptocurrencies to transition to a far more mature state.
The cryptocurrency ecosystem is far more about a different sort of relationship to money. It is essentially a freeing up of how everyone relates to monetary systems. These systems have been around for centuries and quite possibly millenia.
The emergence of viable crypto exchanges that match up far closer to the goals of many of fintech banking solutions are apparently now coalescing.
Combination hybrid exchanges like Ternion, expanded Coinbase products, and others are emerging as the next stage in an industry yearning for maturity. These sorts of platforms are behind the current growth intrading volume, which is far more important than price swings.
So will prices shoot back up? I don’t believe so and that is just fine by me.