Last year, 2017, was a booming year for cryptocurrencies and Initial coin offerings (ICOs). Since then, the crypto industry has tumbled down a shaky road. What does the market have in store for us 2019? In a recent article in Forbes, industry leaders share their thoughts.
What do industry leaders have to say about the cryptocurrency market in 2019?
The crypto world is full of surprises, and we have learned that it is very hard to predict the market. It is interesting to hear what the industry leaders have to say about the future since they are spending all of their awake time in the crypto world.
Tim Draper is a billionaire venture capitalist, and he has earlier said that the price for bitcoin will reach $250,000 by 2022. If we look globally, this is very probable according to Draper. In a recent statement he sticks to his earlier prediction: “I am sticking to my original prediction – Bitcoin will hit 250k by 2022.”
Another industry expert is Ella Chang who is the head of Binance Labs. Binance is the biggest cryptocurrency exchange in the world, and during its release in Uganda, they got over 40,000 new customers the first week. She argues that 2019 will be a very exciting year since there will be many new products on the market. They are now reaching over five continents with their current offerings. Ella Chang adds: “The projects and teams who are focused on building and achieving product-market fit will bring more real use cases to our lives. It will open the gateway to the mass adoption of crypto.”
What do industry leaders say about the technology behind crypto, blockchain?
The leaders are very optimistic about the future of cryptocurrencies as well as the blockchain technology. Chanpeng Zhao, the CEO of Binance, states that the builder has built during 2018 and that we will see many of those products introduced to the market in 2019.
The CEO of Binance is not the only one who believes in the technology. Fabian Vogelsteller is the CEO of the new ICO LUKSO and responsible for creating the ERC-20 standard. He has experienced many ups and downs with blockchain. It is not the first time Vogelsteller hears that “blockchain is over.” However, he thinks that this is just the beginning: “The fact is that the underlying technological innovation continues to evolve and to get better. We have more tools today, documentation, tutorials, and users than ever before and this will continue to grow as the user interfaces become better and more seamless. In 2019 we will continue to live in the aftermath of 2017. ICOs have been in winter sleep for most of 2018, following the ICO madness we experienced, which was initiated by my ERC-20 standard. Nevertheless, this doesn’t change the fact that ICO’s are a great fundraising mechanism, for those projects in which a coin offering makes sense.”
Justin Sun, the founder of Tron joins in and says that many blockchain projects have developed during 2018. They are ready to launch new applications and products during 2019, Tron included.
In summary, all leaders are very enthusiastic about the future, and the foundation for blockchain and cryptocurrencies are stronger than ever. You can read the whole article from Forbes here. Even though the price has fallen the whole year, developers have been building. During 2019 we will see many new applications and product being launched.