2017 was a glorious year for the cryptocurrency. Ever since the blockchain technology came into the picture, it had struggled to make a point in the industry but 2017 was the year where it showed its true potential. The number of investors and the amount of money that was invested proved that the crypto market was about to shatter records. However, 2018 has not been a great year for the industry as compared to the cash-rich market of 2017. Crypto prices have fallen like crazy and although it is still not time to search for an alternative, researchers believe that a new narrative is required to bring the crypto market in shape all over again.
The need for a new narrative
According to researchers, the current condition of the crypto market is more turbulent than ever. The investors and the traders have started to panic because of the investments they had already made during the time when the market was in good condition. According to the Qprofit System Review and recent reports, the price of the investments has fallen by as much as 70 to 90% from what they were during the start of 2018. The mother of all cryptocurrencies, Bitcoin has hit a massive low and reached below $3,000, a number that inevitably scares adopters and investors alike.
Another reason why experts believe that a new narrative is important for the crypto industry is that there were thousands of start-up companies that lured people to invest in several ICOs but because of the intermittent technological solutions, the return value of these investments did not really become so fruitful. Moreover, the US Federal Reserve started changing their monetary policy to support the citizens at the time of the financial crisis. This led to a rise in interest rates and as a result, it affected the crypto market significantly.
Over the last few months, the price of borrowed money has increased at a staggering rate. This has made the investors believe that the crypto market is not proving to be worth the money that they thought they would reap. As the turbulent times continue, investors are looking for confidence from the market so that they could buy currencies that will be of real worth to them.
The silver lining
There is no doubt that the crypto market will get back its glorifying days after recovering from this bad patch. Earlier, investors did not even think before investing in the ICOs because they promised huge returns. But after 2018, things have changed rapidly. Every transaction is being scrutinized so that they do not come back to bite the investors again. But history has it that whenever there has been a crash in the investment sector, the same technology has come back to reign the industry again. One of the classic examples of this is the dot-com crash that came back to rule the market again and give thousands of start-up companies a chance to grow and stabilize in the following few years.