Published
5 years ago on
October 22, 2018
"Do I think we’ll have another bubble? Probably, because people just don’t learn. Once it broke through $20k, it would run to over $100k and then we have the start of a new bubble-bust cycle," Lingham said, explaining that he looks at the cryptocurrency market from a long-term perspective, while the bubble will be created by investor greed.â€As reported by Cryptovest:
“He explains the December bubble and the subsequent burst by disbalance between supply and demand as last year investor interest in digital assets and ICOs considerably exceeded the supply, while in the second half of 2018 the situation reversed.â€The South African harbours no illusions about the upcoming mass adoption for Bitcoin with the significant scalability issues that slow its development and reduce the scope of real-life use cases.
"Even though we are about a decade into blockchain technologies, we are still in the infancy. Primarily the number one use case for cryptocurrency outside of money transfers is trading. It’s mostly a speculation game."Moreover, Lingham is not the only one who has emphasised the bubbly state of the current digital currency market. Back in July this year, Agustin Carstens a General manager at International Settlement claimed that Bitcoin was a bubble waiting to burst and added that it was a Ponzi scheme which could result in an environmental disaster. What are your thoughts? Let us know what you think down in the comments below!
