The cryptocurrency market has reached the limits of its development and there are no prerequisites for its explosive growth, according to Vitalik Buterin, co-founder of Ethereum.
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” Buterin said at the Ethereum Industry Summit conference in Hong Kong in a Sept. 8.
According to Buterin, growth in Bitcoin and other cryptocurrencies in 2017 and previous six or seven years was dependent on marketing and trying to get wider adoption. Today, this strategy is getting close to hitting a dead end, he said.
Now, the community has moved to the next stage — the new task of the crypto community is to develop the ecosystem by involving those who can use blockchain products in the real economic activity.
According to Jehan Chu, managing partner at Kenetic Capital, there may be opportunity for further growth in 2019 as cryptocurrency tokens continue to advance and there are deep reservoirs of value just waiting for the right trigger.