Many cryptocurrency projects failed during this bear market and some altcoins have even dropped to a value of 0. It is an uncertain time for both crypto projects and crypto-investors. However, 2019 could well be the year that could bring improvement.
Charlie Shrem, an influential person in the crypto world, talked about his expectations of 2019 during the Crypto Trader program of CNBC Africa. And like many other crypto experts, he sounded very positive about the coming year.
He expects that in 2019 many crypto projects will finally deliver results. Many projects that made great promises in 2017 and 2018 will launch their products in 2019. According to Shrem, the projects were so quiet because of the focus on product development.
When asked about the status of the current bear market, Shrem replied that it is “100% the most violent bear market ever”. However, he emphasized an important difference with past bear markets; during previous bear markets, insiders wondered how long a crypto would last, now they wonder how long the bear market will last. According to him, this indicates more confidence in the industry.
Fred Wilson, co-founder of Union Square, also recently expressed a positive attitude. According to him, the projects that will finally make their promises come true will push the market up in the coming years. He hopes that Filecoin, a project that raised more than € 150 million, will launch its product. In addition, according to him, consumers will increasingly use stable coins for, for example, crypto gaming.
Despite a lot of insights in recent times positive about the future of crypto, the end of the bear market is not yet in sight at the moment.