Cryptocurrency prices, are we on the verge of a new surge?

Cryptocurrency prices, are we on the verge of a new surge? Here's what the experts think about the future of asset and technology.

Since the beginning of 2018, the Bitcoin price was one of the most discussed topics in thecryptocurrency ecosystem. The reason for this is certainly not far-fetched: from the first part of the year onwards, there was a sharp drop in prices, and a downward pressure that defeated the rosy expectations of many.

Speculation has prevailed

In addition to the basic technology development projects and to the various ICO that failed expectations towards the end of the 2017, the constant increase of the Bitcoin price and others large cryptocurrencies has attracted a significant amount of new capital. Most of the new money came from speculators, eager to collect the big gains in the short term and in the very short term, entering mainly long positions: unfortunately for this class of investors, the price drop of more than 60% from the historical peak of Bitcoin it means that they have not recovered their investments, or are still taking on holding strategies pending a recovery in prices.

Regardless of individual perceptions, the situation thus generated actually had a significant effect on the ecosystem. While most newbies remain confused and at the mercy of the panic of the moment, wondering about what could actually become the cryptocurrency market, the more experienced players seem imperturbable.

2017 is still on everyone's mind

2017 was perhaps a once-in-a-lifetime year for Bitcoin, which has generated excitement and wealth in equal measure, in a way that is unprecedented in the crypto-value space.

In this sense, recently the founder of Netcoins, Michael Vogel, however, wanted to extinguish the miraculous impressions, defining that what happened is "normal" for the cryptographic space. Vogel recalls that the financial industry has seen similar corrections, and that even the history of Bitcoin itself is not new to these swings: in particular, in November 2013, and even in May, June and September 2017, the most capitalized cryptocurrency in the world followed up on major corrections. “For the most part, I don't think this more recent correction is different from the corrections from previous years. These are moments that will allow Bitcoin to truly establish itself as a sustainable asset class "- says Vogel.

In all of this, Vogel remains optimistic that in 2018 we will continue to see many successful projects that will use Bitcoin as the backbone, supporting the asset in its consolidated path towards positive development, also in the near future.

Prices remain a crucial issue

Alexander Lobanov, CEO and member of the board of directors of USP Capital Ltd. and VanHealthing Crypto Fund of Biotech Innovations, claims that the price of Bitcoin, as well as the prices of the other main cryptocurrencies, remains a crucial node. Lobanov notes that Ethereum's fate is also giving some concern to the cryptocurrency community. But why?

Lobanov told CCN that the negative sentiments expressed by the cryptocurrency community and novice traders are revealing that the market has already grown tired of the downward trend. “I share the opinion that after the abrupt period of growth, there must be a way consolidation process objective. At the same time, the authorities are very active and have contributed to adding negative sentiment to the market "- says the expert.

In short, helping to feed the difficulties, many crypto-market operators have started to have to deal with many legal obligations, including tax ones. These often confusing developments led to a significant drop in new cash flows, with uncertain developments for the rest of the year. Lobanov also believes that market "fatigue" and regulators' attention to cryptocurrency markets will in turn be influenced by the ICO market.

The ICO market is changing irreversibly

As regards the ICO marketin fact, Lobanov believes that the situation has irreversibly started to evolve in a more in-depth and professional way, in particular as regards the evaluation by the crypto-community and the regulators. The expert also notes that the time of money easily collected by ICOs without design substance is over, and that in the future we will see more serious and reliable ICOs.

Furthermore, Lobanov says that the innovations in the blockchain area have not yet been completely exhausted, and that in the future new products and solutions will be born that will provide additional lifeblood to the sector. As proof of this, the fact that many large companies such as IBM have started investing in blockchain, and that the main platform - Ethereum - has undergone significant changes that have improved its reliability.