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    Crypto Industry on the “Brink of Implosion,” Researchers Say

    As measures of crypto volatility reached long-term lows on Tuesday, a new study from UK-based researchers was released suggesting the future is bleak for bitcoin and the broader crypto industry.

    Updated: Oct 10, 2018  

    Cryptocurrencies are barely breathing. Measures of average daily volatility are at their lowest levels in sixteen months and market direction is doing its best impression of a pancake—it’s flat!

    Those attempting to watch or trade the price action in bitcoin, ethereum and other cryptos in recent weeks will, by now, be contemplating switching (if they haven’t switched already) to the more interesting pastime of watching mould grow on the bathroom ceiling.

    This is, though, the time when crypto traders should be most alert. From a dead or heavily compressed market comes life, and this typically manifests in a violent lurch in one direction, together with a general explosion in volatility. “Stay frosty,” is the message from Corporal Hicks to crypto traders.

    Offering a gloomy conclusion on cryptocurrencies and the entire crypto industry is Juniper Research, which released its latest study on Tuesday.

    Researchers at Juniper, a digital technology research and consultancy group, argue that bitcoin’s 52 percent decline this year (69 percent for ethereum and 76 percent for ripple) in what should be extremely favourable conditions bodes poorly for the industry’s future.

    Consider that cryptocurrencies have had all they need this year to prove themselves as a real alternative to conventional, government-backed currencies, many of which have been weighed down by political concerns, including Brexit, and by trade wars and the stronger dollar, among other causes.

    “If bitcoin cannot make gains in such favourable circumstances then it is unlikely to prosper as and when these issues are resolved,” a Juniper researcher said.

    Juniper feels that “the industry is on the brink of an implosion” and that “further [price] falls are highly probable.”

    Posted under: #News #BTC #ETH #USD

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.