2018 has been a tough and challenging year for my crypto fellows. From hacks to setbacks, we have suffered it all. But what doesn’t kill us only makes us stronger? If that’s the case then Bitcoin is set to emerge as a mighty beast – or at least we hope so.
According to people here are some of the steps that the crypto industry must take to heal the wounds.
The Industry and Regulators Must Join Hands
It seems that it has become crucial for lawmakers to come together with this industry as it is here to stay. Any resistance now would not prove to be beneficial for either side.
Recently a Digital Currency Group, Coinbase, and Circle launched a pro-crypto lobbying group – in September 2018 – to show that they were serious about what’s to come.
This will not only show seriousness but also put out an important message that the legislators want to protect consumers and earn mainstream acceptance.
Get Ready for More Trouble
According to Travis Scher, a known investor at Digital Currency Group highlighted that we should be ready for more trouble. By this we mean, more layoffs, company closures, and bankruptcies in 2019.
“Crypto companies need to tighten their belts and prepare for a long winter,” Scher warned. “Token sales will be hard to execute not just because of uncertain regulation, but because liquidity has dried up.”
Uh-oh. Looks like it’s time to hold on to our seatbelts. It’s gonna be a bumpy ride.
Revolution or Evolution?
Travis said that the initial rise was wrapped up in attitude and arrogance. This is something that the crypto must avoid at any cost. The higher you go, the harder you fall. But a steady rise with cushioned fallbacks is what we need to achieve the dream.
The Media Hype is Not a Lie
First the big Wall-street companies like Goldman Sachs. Fidelity and ICE were making big public announcements and now Facebook wants to come up to speed with crypto as well. How ironic. First, they ban all ads and now they want to be a part of it too?? Looks like the gloating naysayers are really being put to shame.
