FRISKIE wrote:A thought about an "imminent" price crash . .
I was thinking today about the state of the crypto-space, and how it has matured well beyond what this whole space meant during the last serious crash. We now have a number of viable projects, Ethereum smart contracts, initiatives to develop BaaS (blockchain as a service), DApps and so on - what has been missing is that magic ingredient, broader public recognition of all this and involvement in realizing its potential.
That said, what we could possibly be seeing is not a bubble in any traditional sense, but the inflow of public engagement, some purely for profit, but a number of which will learn more, embrace the technologies, and generate more buzz.
The technologies are at the point of maturity that developers have begun to work on solutions with "real world" application, efforts which move the crypto-space out of it's Bitcoin-centric focus and into a world where a broader array of blockchain enabled technologies can see the light of day now that more people are paying attention.
Just sayin'
FRISKIE
I agree with you almost entirely...the more these "major" coins increase in value combined with the ever growing investments of ICOs, the more the news will cover it...leading to new people trading/investing/mining...leading to word of mouth to their friends...leading to increased coverage...snowball.
I would say that for another collapse to be avoided, we have to avoid the collapse...ya, a catch 22. If there's a major bump where several well covered coins have a huge drop and new people to the crypto world loose a lot of money, they leave (many) with a bad taste in their mouth, spread their misfortune, and then the coverage becomes negative...leading to a larger drop...snow ball.
Another thing that is needed is broader "real world" uses. Many companies/businesses are accepting coins now...but they are still a fairly rare thing. To me, for what my opinion may be worth, a current coin, but preferably a new ICO or even a spin off, needs to give the skeptical and misinformed public a reason to use crypto...compare the current monetary system and crypto currencies to credit cards. If you have a choice to use a credit card that is "normal" or another card, one that is accepted the same places, has same interest rates, same atm fees, same everything...with the exception of it provides a %5 cash back and it rewards you with free electronics for every "X" number of dollars you spend...even if that card was new...which would you use?
Don't get me wrong, we can see the advantages and reasons to use crypto and know its potentials...but the general populas doesn't. This is what I personally think needs to happen to not only prevent another collapse, but to maintain growth. Do I think this phenomenal growth is going to continue? No...we will experience a dip...I just can't decide how big it will be and what its long term effects will be.
My 2 bits