Tuesday, October 9, 2018

RESEARCHER: Crypto Industry on ‘Brink of an Implosion’

Juniper Research is warning that many of the metrics in the cryptocurrency world are pointing to a market implosion, reports Bloomberg.

Industry bellwether Bitcoin had seen its daily transaction volumes fall from an average of around 360,000 a day in late 2017 to just 230,000 in September 2018. Meanwhile, daily transaction values were down from more than $3.7 billion to less than $670 million in the same period, Juniper said in the study, The Future of Cryptocurrency: Bitcoin & Altcoin Trends & Challenges 2018-2023.

The market as a whole has contracted quickly as well. In the first quarter, cryptocurrency transactions totaled just over $1.4 trillion, compared with less than $1.7 trillion for 2017 as a whole, Juniper said. However, by the second quarter, transaction values had plummeted by 75 percent, with total market capitalization falling to just under $355 billion, notes Bloomberg.

"In short, given our concerns around both the innate valuation of Bitcoin, and of the operating practices of many exchanges, we feel that the industry is on the brink of an implosion," Juniper said.



  1. Juniper Research was founded in 2001. The Bitcoin Whitepaper that launched the technology was released on 31 October 2008. For Juniper Research to have any credibility in this space, it would have to have predicted the rise of Bitcoin to have a widely distributed market cap of $114.7 Billion by October 2018, at least earlier than Juniper's 15th anniversary. Here's my prediction: Bitcoin will outlive Juniper Research.

  2. The world is two hundred fifty two trillion dollars in debt and they are researching Bitcoin transactions. Bitcoin might go down because every person in the word has to pay the printing press.