Baku, Azerbaijan, Jan. 19
By Anvar Mammadov – Trend:
2018 will be a make-or-break year for the burgeoning crypto asset market, Jacob Pouncey, Saxo Bank’s cryptocurrency analyst, told Trend Jan. 19.
The optimists are looking for the market cap to top $1 trillion while pessimists foresee increased regulation and even the outright banning of cryptocurrencies as monetary authorities decide that the space is out of control, he said.
“Crypto assets are behaving like the dot-com stocks of the late 1990s,” he noted. “We expect more companies to announce blockchain pivots before this speculative phase is over. 1Q18 will see more projects hitting the market, each touting itself as the next crypto revolution in its particular sector. This, again, will only drive further speculation in this nascent market.”
“If the crypto space is to see a new leader; Ethereum seems to be one of the assets with real-world utility that goes beyond its standard function,” he added. “It is now processing over 1.25 million transactions/day and tens of billions of dollars in volume.”