Right. A “snooze.”
May as well call crypto what it is right now: comatose.
Since late December, for more than 410 days, the cryptocurrency sector has been in a steep sell-off, unable to demonstrate momentum or break out of key resistance levels.
Thing is, it’s always been a “currency” or an instrument for those who enjoy taking risks. It had a nice run-up where early adopters made some real-world cash, while a bunch of newbies jumped in, only to lose their crypto shirts in the process.
So, where’s crypto going to go? Away? Stay? As a financial technology built on and conceived with security in its DNA, crypto’s core blockchain seems very well positioned to help solve the real security concerns that surround us. Social and messaging apps that spy on us, voting booths that can’t be trusted, video of realistic world leaders that can essentially be faked completely—the world is rife with examples where the end user doesn’t actually trust the system.
Market conditions are set for blockchain tech to contribute positively in a big way. But it needs to shake the perceptions that crypto’s really weird year have created. And blockchain needs a sexier new name. Grandma can’t even say blockchain, much less understand it.