Bitcoin Crash: Why This Time is Different

November 29, 2018

For Immediate Release

Contact: Joy Howell

joy@cambridgestrategicpartners.com

202-302-5932

Bitcoin Crash:
Why This Time is Different

Palm Beach Gardens, FL– Statement by Martin Weiss, Founder of Weiss Ratings, on the recent plunge of bitcoin, decline in the cryptocurrency market, and why this time is different:

Since Bitcoin began trading actively, it has plunged by 70% or more on four separate occasions. Each time, people wrote its obituary. And each time, Bitcoin rose from the dead, rising by an average of 6,300% from low to peak. Now, Bitcoin has declined by more than 70% again, setting the stage for another major price rise likely to begin in 2019.

“However, there is one important difference this time: Bitcoin has not kept up with the latest advances in the Distributed Ledger Technology (DLT) that underlies cryptocurrencies. It will continue to play an important role, but primarily as a store-of-value commodity akin to gold. In its place, a select group of faster, more scalable cryptocurrencies will lead the way both in terms of price appreciation and innovation.”

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Comments 3

Stephen December 3, 2018

Does price appreciation make a good crypto network? This whole time I thought it was all about node growth

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Brix Jørgensen December 3, 2018

Bitcoin is one of the most active projects in the space, with some of the best developers, which is why it is still king, by a very large margin. If you think its rate of 1 block every 10 minutes is “slow”, you don’t understand how it works — this is by design. Payments will scale through layer 2 technologies such as the nascent Lightning Network, which renders the multitudes of blockchain projects who think TPS is relevant, utterly worthless.

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Marc reply_all Brix Jørgensen December 5, 2018

layer 2 technologies are even more centralised than banks 😮

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