Charles Hoskinson says it could take 10+ years for crypto to regain 2017 high

25 Jan, 2019 | Updated: 25 Jan, 2019
by Joeri Cant
News
Charles Hoskinson says it could take 10+ years for crypto to regain 2017 high

Cardano’s founder, Charles Hoskinson, said that the crypto markets might need more than 10 years to regain 2017’s price highs, but adds that by then the industry will be a dramatically different ecosystem at that point.

The famed co-creator of Ethereum and founder of Cardano, compared crypto’s massive growth spurt in 2017 with Amazon’s performance during the dot-com bubble,

He told Cointelegraph at the Crypto Finance Conference, that it took 11-12 years for Amazon to recover its all-time highs and that by 2011-2012, the firm was a 'very much more mature company, much more realistic company.'

According to Hoskinson, the cryptocurrency universe could experience a similar growth pattern.

'It might take 11 years for us [the crypto industry] to recover back to where we were in 2017, but we will be a dramatically different ecosystem at that point. We'll have millions, perhaps even billions of users. We will be in many consumer products, be easy to use, [even] grandma can use it. A lot of the hard stuff will have been figured out. Like if somebody dies, how do we get their private keys, how do we handle taxes, all of the regulation will be done.'

Hoskinson also believes that, with the entry of institutional investment, regulation will form, and the desire for better trading tools and options will push crypto towards stability.

'Institutional investors are pretty picky. They're very intelligent investors, but then they also require an ecosystem of sophisticated trading strategies and tools [...] They need derivatives, they need options, they need to get a short sell, and if our markets can get these things, what will happen is that you'll no longer see this massive volatility.'

Read more: Charles Hoskinson: Cardano will "get back in the top 5"

Cardano is expected to introduce Cardano’s next phase of evolution, Shelley, during 2019, which will make the network far less decentralized.

In November 2018, Weiss Ratings declared Cardano as one of the best cryptocurrencies to invest in, together with XRP, Stellar and EOS.

All four cryptocurrencies received the rating of B-, and according to the standards of Weiss crypto ratings, any grade of B- or higher is the equivalent of a 'Buy'.

Ada is currently trading at $0.043, up 0.81% in the past 24 hours, according to coinmarketcap.com

Read more: XRP, Stellar, EOS and Cardano are the best crypto to invest in!

Do you agree with Hoskinson, that it will take 10+ years to regain all-time-highs? Let us know in the poll below.

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Poll

Do you agree with Hoskinson, that it will take 10+ years to regain all-time-highs?

(39 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage