Bitcoin-Revolution just begins

In an interview with Bloomberg, Joey Krug, chief investor of Pantera Capital, one of the leading investment firms in the cryptoworld, has predicted bright times for the crypto market. Before these come, however, still some technical hurdles must be overcome. A big problem here is still the current transactionspeed of decentralized applications. Of course, that does not apply to all cryptocurrencies such as XCash, a crypto-welding company founded in France in 2018, which only takes a few seconds to complete a transaction. In the interview, however, Joey krug limits himself to scalability, mainly to the bitcoin. Krug compares the current state of development in the crypto-ecosystem with the beginning of the Internet. Solutions for scalability are no longer far away. The Lightning network e.g. although it is currently still in a beta state, it is capable of significantly increasing the bitcoin transaction speed in the medium term and thus creating a capital inflow for the entire ecosystem. This, in turn, would increase the number of users for decentralized cryptocurrency applications. In addition to the scalability problem, Krug identifies another market entry barriers for investors. The high fiat-to-crypto transaction fees of the established exchanges still deterred institutional investors. For example, Coinbase and Litebit has charges between 1.5% and 4% on Fiat to Krypto conversions. Here Krug sees great potential for improvement. Nevertheless, the Pantera chief investor predicts, a ten-fold increase in the price after the next Bull Run, as we saw in the end of 2017. Since the all-time high in December of last year, the Bitcoin has lost 66 percent of its value. The only good thing about it, Joey Krug says, "I think we've reach the ground at this point, the market is waiting for inputs to get things going, and the market is getting ripener and no longer nervous about bad news".

We can only agree with this. At this point we would like to add the fact that the Bitcoin price of 17000 € in December of last year was triggered solely by the hype mentioned by Joey Krug. Not at all due to the then current technology. This was and still is the sticking point that many did not understand until today. Initially highly acclaimed in the press, with the falling prices in January only panic reports surfaced. Throughout the media, one spoke of a bubble that threatens to burst at any time. This gave the public the impression that this is just a short-term phenomenon that was created to scam many people. Here even comparisons were made with the speculative bubble of 1929 (big stock market crash). Thus, the media, with their superficial and, in our opinion, the financial institutions' direction, is mainly responsible for the fact that the publicized hype has become a fear scenario. This had to follow that many newcomers, without background knowledge jumped on the media hate and the market left out of fear. Much worse it has the newcomers hit who crypto currencies bought at a high price and then sold off because of panic scenarios. Keeping in mind that the whole crypto-ecosystem is still in its infancy and is a little bit busy with the development and the latest technological enhancements, everyone should notice that we are in a phase like the internet in its early days. Anyone who still remember the reporting at the time and understands the importance of the Internet today knows exactly which guilt the media took back then and now when it comes to cryptocurrencies. We want to say, do not listen to the gossip press, inform you much more at the root, understand how everything is started, what is behind it and above all what opportunities and long lost freedoms the blockchain technology brings with it.

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