Researchers at the University of Cambridge believe that assumptions about the imminent end of Bitcoin as a result of a decline in its rate by 85% are "significantly exaggerated" by the media.
Earlier, Bloomberg, citing the results of the same study, reported that in 2018 the number of verified cryptocurrency users had almost doubled, but it contained a number of other interesting findings.
“The cross-segment expansion that took place in 2017 continued: 57% of companies now operate in at least two market segments, providing their customers with access to integrated services. For comparison, at the beginning of 2017, such companies accounted for 31%, analysts write.
In 2017, only 47% of service providers supported several digital assets at once, but in 2018 this value rose to 84%. This trend is primarily due to the emergence of standards for some crypto-active platforms (for example, ERC-20 for Ethereum), which led to a rapid increase in the supply of tokens. ”
Analysts also came to the conclusion that the concentration of cryptocurrency computing power across geographical regions does not constitute such a serious problem as is usually said, and the most rapid growth in this context has recently been shown by North America.
“Industry participants are taking active measures to ensure that their activities comply with applicable laws, although they are not always directly subject to their jurisdiction. The growing number of self-regulatory initiatives, complemented by the emergence of advanced and professional services, testifies to the improvement of the industry. ”
The University of Cambridge identifies with a bubble sign a tenfold rise in the price of an asset in less than 6 months. According to its categorization, bubbles are divided into local, affecting a single cryptocurrency, and global, which spread their influence over the entire ecosystem. Local bubbles are much more common than global ones.
Fueled by media attention, the bitcoin and altcoin bubble reached unprecedented proportions last year. When the market turned around, the media began to write en masse about its decline.
“Statements about the death of the cryptocurrency assets industry have been made after each global ecosystem bubble. Indeed, the 2017 bubble turned out to be the largest in the history of Bitcoin, but the market capitalization of Bitcoin and the cryptocurrency ecosystem still exceeds the levels of January 2017, that is, at the time before the bubble began. Thus, speculations about the death of the market and the ecosystem have been greatly exaggerated. As a last resort, industry participants will have to postpone their expansion plans, ”the publication says.
According to the statistics of the portal 99bitcoins, references to the death of Bitcoin in connection with various circumstances have been found in the media 334 times already!
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