The bull run of 2017 proved to be extremely beneficial for many in the crypto game. People who cashed out on the right time gained extreme profits. But since coming back from the “almost $20,000 mark”, bitcoin has not been able to rise up again. At the time of writing, bitcoin is floating around at the price of $3,601. People who are holding, or ‘HODLing’, bitcoin are looking for the next bull run to happen. But will see another bull run like 2017 happen again?
Sherman Lee, who is a Forber author, a partner at Zeroth.AI and the co-founder of Raven Protocol, recently got in touch with BlockPublisher as he gave his insight regarding this issue. Answering the question regarding whether we will see another 2017 like bull run in the future or those days are over for bitcoin, he said:
We will see another bull run come. Maybe not this year and maybe not the next. We have a lot of catching up to do in terms of the tech matching the network valuations of these tokens that are being released.
He further said:
2017 was the year of outlandish raises for crazy ideas. 2018 was the year these things were getting built. 2019 will be the year that tests true adoption of blockchain technologies. Dapps like cryptokitties has only a couple hundred users per day. And that’s supposed to be the most popular game. Tron released its blockchain on Mainnet and the transactions are near instant and cheap. Many developers are switching over to them.
Another bull run of bitcoin is expected as per Sherman but the timeframe for that seems unclear as of now. Moving forward into 2019, he also pointed out that the true adoption of blockchain technologies will take place. A lot of capital is already flowing into this space. People are starting to look for the use-cases of this technology in areas other than finance.
It also seems that the world is still waiting for a killer dApp to come in. Up until now, we have not seen a dApp getting mainstream adoption in the general public. With platforms getting more and more faster and scalable, it is expected that we will see a dApp go mainstream in the near future somewhere. If that ever happens, it will likely help get blockchain more adoption across various industries.
Edited On 12:11 PM PKT 2/15/2019