Billionaire investor Mark Cuban analyzed the current state and future of blockchain technology and investments on his twitter. He concluded that cryptocurrency prices reflect “real demand”. The growing demand for crypto from institutional companies and the clear interest of retail investors in this digital asset have led to the fact that even skeptics now recognize Bitcoin as a “financial instrument for savings”.
It is very difficult to predict the price movement of cryptocurrencies. However, market analysis can still help to understand that the likelihood of any events happening is higher. So, Mark Cuban noted that soon the cryptocurrency “will mature to the point we wondered how we ever lived with out”.
As we can see, Cuban has been particularly optimistic lately in his comments about cryptocurrencies, especially BTC and Dogecoin. In addition, he spoke negatively about the speculative remarks of Elon Musk, which led to the collapse of the market.
Thus, we can see that crypto prices are often determined by speculation associated mainly with the uncontrolled behavior of the mass investor. So, Tesla announced the end of support for Bitcoin payments. After that, Bitcoin sank below the $ 50,000 mark. The decline continued for almost the entire week, despite the market’s attempts to resume the bullish trend.
And vice versa, after positive words about DOGE, the market was covered with a fever of “dog” coins. A new coin with the image of the Shiba Inu dog (SHIB) was immediately launched by the largest cryptocurrency exchanges.
In a matter of days, the capitalization of the project exceeded $ 5 billion, and the SHIB coin burst into the 30th line in the CoinMarketCap rating, overtaking such coins as BSV, Maker, CAKE and others in terms of trading volume.
Cuban noted that as assets mature, they will become less speculative.
Crypto demand rises
The blockchain doesn’t stand still. Solutions are emerging that increase the speed of transactions and increase the efficiency of blockchain platforms, specialists are developing solutions such as Polkadot that allow communication between different networks.
But most importantly, there is a demand from the real world for decentralized services and applications. The world of crypto and the ordinary are actively interacting. The ability to pay for goods and services with Bitcoin is far from news.
The most actively developing projects are decentralized finance – financial platforms based on decentralized blockchains. Which, instead of intermediaries such as brokers or banks, use smart contracts, directly connecting clients to each other.
In other words, looking at what happened a few years ago, today’s growth in interest in cryptoassets is less speculative and more conscious, supported by the development of blockchain technologies and the emerging demand for their products. Likewise the rise in interest in Internet companies in the mid-2010s.
The crypto market is still in its infancy. Cryptocurrencies continue to gain recognition in the world, receive the status of a means of payment in different countries. At the same time, only 41% of consumers have heard about blockchain technology, of which 80% don’t understand the meaning of this term. Therefore, the crypto market still has room to grow.