Researchers at Cambridge University believe that assumptions about the likely end of bitcoin as a result of the reduction of its rate by 85% “greatly exaggerated” media.
Earlier Bloomberg, citing the same study wrote that in 2018 the number of verified users of crypto-currencies almost doubled, however, it contains a number of other interesting findings.
“Cross-segment extension observed in 2017, continued: 57% of companies are now operating in at least two market segments, providing its customers with access to integrated services. For comparison, in early 2017 of such companies was 31%, – analysts write. In 2017, support for multiple digital assets was carried out only 47 per cent of providers, but in 2018, this value increased to 84%. This trend is primarily due to the emergence of standards for some crypto-active platforms (e.g., ERC-20 for Ethereum), which led to a rapid increase in supply of tokens”.
Analysts also concluded that the concentration of computing power of crypto-currencies by geographical region is not a serious problem, as is usually said, the most rapid growth in this context, recently demonstrated by North America.
“Industry participants are taking active measures to ensure their compliance with applicable laws, although not always directly fall under their jurisdiction. A growing number of initiatives of self-regulation, complemented by the emergence of advanced and professional services, indicative of improvements in the industry.”
Cambridge University determines a sign of a bubble a tenfold increase in the price of the asset is less than 6 months. According to his categorization, the bubbles are subdivided into local, involving a single currency and global spread its influence over the entire ecosystem. The local bubbles are much more common than global.
Fueled by media attention bubble bitcoin and altcoins in the past year has reached unprecedented proportions. When the market turned the direction of, the media began to write about its decline.
“Statement on the death of the cryptocurrency industry assets was done after each global ecosystem bubble. Indeed, the bubble of 2017 was the largest in the history of bitcoin, but the market capitalization of bitcoin and cryptocurrency ecosystem is still higher than that in January 2017, that is, from before the bubble. Thus, speculation about the death of the market and the ecosystem has been greatly exaggerated. In an extreme case, the industry will have to postpone their expansion plans”, — says the publication.
According to the statistics portal 99bitcoins, mentions the death of bitcoin due to the different circumstances found in media has 334 times.