The Future of Crypto Market, a Massive Shift of Spotlight From Bitcoin

Oct 30, 2018 at 13:24 // News
Author
Coin Idol
Some virtual coins have disappeared, while others have evolved with amazing rapidity.

Since the creation of the first crypto coin, the digital currency market has changed drastically. Some virtual coins have disappeared, while others have evolved with amazing rapidity. For example, Bitcoin dominance is nearly 53% now, with over $112 million market cap.

Expert’s Opinion   

Alex Reinhardt, Venture investor, business development expert, serial entrepreneur, Co-Founder and CEO of ELVN Crypto Messenger and Wallet thinks “it would be premature to speak about the prospects of cryptomarket’s capitalisation as the sector’s regulation will have a significant effect on its development.”   

   

In his opinion, most major players are waiting for specific actions to be taken by the government agencies in various countries. That is why he would hold off on citing specific figures. Billions [of USD] that are mentioned in discussing the crypto market’s capacity may, after verification, turn out to be highly exaggerated and only time will tell to what extent.   

Alex told Coinidol:   

“After comprehensive regulation of crypto exchanges is introduced, we will get a clear picture of the amount of money that actually circulates in the sector. And only after that one can make any projections. I am doubtful that in the coming 10 years the market capacity will reach trillions [of USD].   

I don’t think that in the next 5 to 10 years the crypto market will be able to overtake the Internet one in the growth rate. It will be great if, in the next 5 years, the crypto market maintains its current capitalisation of 200-300 billion USD – that is my prediction, provided that these are actual figures. At the same time I believe that the crypto market has a great future.” 

Mr. Reinhardt also advises to keep in mind that the cryptomarket is not just about cryptocurrencies, it also comprises various projects that use blockchain technology to build a fair, transparent and sustainable infrastructure. And the crypto currency is just one of the blockchain technology products that will get increasingly more interesting as the global crypto infrastructure grows.

He adds:   

“I don’t think that Bitcoin’s share will decline. One of the key challenges that may affect its position is that it may fail to cope with the increasing load. Transaction speed is not very high yet and at the same time, there are enough competitors – the well known Ethereum, Ripple and the new coins that are aggressively growing. 
There are enough growth opportunities today and if you can gather around yourself a strong professional community that will be able to resolve the infrastructural challenges of the entire market and come up with an alternative to the existing crypto currencies, then everything is possible.” 

Alex also stated that he is sure that within the next 2 to 4 years we will see new cryptocurrencies that will put serious competitive pressure on Bitcoin.   

New Shining Stars   

Another expert, the financial advisor Nigel Green, made a clear emphasis on two major tokens that currently take leading positions on the CoinMarketCap. They are Ripple (XRP) and Ethereum (ETH). Such coins maintain better technology, features, and solutions to operating problems. He states Ripple will be one of the top cryptos that will grow as large as Bitcoin by capitalization in the future. That will be possible because of great focus on integration with banking and finance institutions.   

The second coin, Ethereum, could even dethrone the most popular crypto bitcoin within the decade. It is fast-growing and many platforms are interested in adopting this digital currency. Besides, smart contracts, that Ethereum employs, have caught a lot of attention from leading fintech companies. The decentralization of cloud computing is one more benefit of Ethereum technology.