It is no secret that 2018 was a sad year for the cryptocurrency market. Entire projects centered around Bitcoin (BTC) collapsed, while a handful of altcoins fell from the proverbial cliffs. However, one of the first pioneers and zealous believers in the encrypted space states that 2019 could be a turning point for this sector.
Crypto Heavyweight Charlie Shrem on the outlook for 2019
Aside from the Winklevoss Twins, it was claimed that Charlie Shrem, an American citizen who became the second high-profile Bitcoin enthusiast to be arrested (after Ross Ulbricht), is one of the most notorious players in the cryptosphere. And while Shrem had remained in prison for a number of years, he was released, returning to his roots as a cryptic entrepreneur.
He recently appeared on CNBC Africa's "Crypto Trader," directed by OnChain Capital founder Ran NeuNer, to discuss his thoughts on the blockchain industry in the future.
In an interview conducted at the North American Bitcoin Conference in Miami, one of the biggest events related to the crypt, Shrem was included by NeuNer on the prospects of crypto in 2019. Just like many of his internal colleagues, the former BitInstant's CEO responded with confidence and optimism.
Shrem noted that he expects to see "a lot of phoenixes from the ashes" for 2019. While this comment looks hazy and capricious, the current founder of Crypto.IQ and a member of the Bitcoin Foundation has continued to notice that the projects that talked about a great game in 2017/2018 will start shipping the product in 2019.
The passionate Bitcoin supporter added that the reason why the projects fell into a deadly silence in 2019 can be attributed to their "construction" efforts. And as such, Shrem noted that while it is likely that some emerging up-ups will stumble, new cryptographic products will be introduced onto the market in the coming months.
This observation comes a few days after Kyle Samani, managing partner of Multicoin Capital, explained that a handful of high-potential and well-funded blockchain platforms, such as the Company and Cosmos with a16z encryption, could launch and challenge Ethereum in 2019. Samani noted that the aforementioned two initiatives, presumably close to launch, could make a move on the quasi hegemony of Ethereum as a platform for the development and deployment of smart contracts.
Samani and Shrem are not the only ones to solicit this feeling. According to previous reports by Ethereum World News, Union Square co-founder, Fred Wilson, a leading venture capitalist, said the fulfillment of the 2017 promises of cryptographic projects will push this market higher in the coming years. .
Tapping specific examples, Wilson exclaimed that he hopes the big name projects, like $ 200M + ICO Filecoin and Algorand, will start shipping. Along with an increase in importance for the so-called "blockchain 3.0" platforms and innovative projects set up in 2017, the US investor explained that consumers will start adopting stablecoin, NFT / cryptographic assets for encryption and revenue / expense opportunities.
Bitcoin will exist in the long term
When asked about the state of the bear market 2018/2019, Shrem expressed optimism. He said that while this is "100% the most serious bear market ever", touching on the fact that consumers have invested "real money" and have been victims of mass FOMO, Bitcoin and other cryptocurrencies are all but deaths in the water.
Shrem explained that in previous bear markets, industry insiders wondered if activity would exist within a year. Now, however, he noted that common Joes are wondering how long this bear market will last, and later they will realize that there is enough "security" in this space to ensure that Bitcoin survives long-term.
However, in the field of Shrem there were no sunrays and rainbows. The rival of the Winklevoss Twins, recently blamed by Gemini founders for stealing 5,000 BTCs, noted that decentralized computing networks, such as Ethereum and EOS, may have started to wilt, explaining that they are scientific experiments.
Title Image Courtesy of Marek Szturc on Unsplash