Opinion: Crypto Market Falls Due To Low Worldwide Adoption Of Cryptocurrencies

By | August 14, 2018

Opinion: Crypto Market Falls Due To Low Worldwide Adoption Of Cryptocurrencies

Famous crypto-trader Chris Burniske shared his thoughts on the reasons for the current bearish trend on the cryptocurrency market.

Cryptocurrency market fell so hard in 2018, because the rate of its growth in 2017 did not correspond to the growth of cryptocurrency adoption in the world.

According to Burniske, there is no need to seek excuses and explanations for each fluctuation of cryptocurrency. The main macroeconomic factor explaining the current situation on the market remains that the financial reality “divorced from utility fundamentals in 2017”. This was the reason for such a powerful correction.

How far the market will fall depends on how much the cryptocurrency adoption level grew in 2017 in reality.

He recalled that in comparison with the prices for cryptocurrencies in January 2017, the market is still a winner.

Burniske added that this is not the first and not the last time when cryptocurrencies fall in price.

Published at Tue, 14 Aug 2018 05:05:07 -0400

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