 | Recently I've realized that more and more people are expressing their hopes to see another bull run in the crypto space. Dreams of bitcoin reaching 40-50k usd within the next 2 years seem to be back. Which isn't that surprissing considering the fact that BTC has been valued at around 3k usd for quite some time now and lately it trippled. This movement surely brought a new wave of interest and hopes. |
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INTRODUCTION
Personally, I'm not sure if another bull run is what we really need at this current stage and I would like to share my own view and compare it to the opinion of others. Of course this will be in the form of friendly discussions coupled with an open mind.
ARE WE REALLY READY?
This is first question we shall ask ourselfs. Is this market ready for another bull run and consequences that will follow?
Many of us surely remember back in 2017, just two years ago when we've experienced a mass interest towards blockchain technology and cryptocurrencies. This interest was coming from pretty much every direction. Pretty much everyone was talking about those topics, and not to mention that a huge amount of money entered the market.
New ICOs have been created and launched one after the other, youtubers were promoting their channels with giveways. We were all flooded by streams of incoming visions of being wealthy and soon joining the club were those who bought themselves a "lambo" with the money earned by investing in crypto.
During those months, our entire focus was on one particular aspect: investing. Hardly anyone cared about the development of technology behind it all. Noone cared about the very necessary regulations that should have been in place. What we experienced seem to me like a "gold rush". Blinding everyone around and attracting "bad actors" in massive numbers.
YEAR 2018 and 2019
For many of us, 2018 was difficult. Some have lost their funds and trust towards this technology. Recent ICOs were shutting down one after another, turning this market into a graveyard.
At the same time some of the focus moved back into things that really matter: building infrastructure and development of this industry. The market become healthier, politicians and regulators didn't feel that much pressure and things slowed down a lot. Generally, the entire enviromnemt around crypto seemed to change for better.
SO LET'S GO BACK TO THE MAIN QUESTION
By now most of you, dear readers, would already know what my opinion is as I strongly believe that another bull run is not what we need now. If mass media would pick up on this topic now then we would surely experience new flow of interest, coming from speculative investors. That would take away the current focus on expanding infrastructure and mass adoption would also become less important.
But am I right? Or perhaps I'm all wrong and just perhaps this industry is already matured enough to experience another wave of interest coming from investors?
I would absolutely love to know your opinion, my dear readers, on that particular topic. I read, upvote and reply to all comments.
Yours,
Piotr