Cryptocurrency Markets are back up after some heavy weeks

Hodlers see some good days 

According to CoinmarketCap Bitcoin has been able to move past $6700 while Ethereum holds above $220. Ripple has seen some huge gains as it is up over 50% today. This is all good and well, but where is the cryptocurrency market actually headed?

*At Oodlebit we do not pressure or recommend investments in cryptocurrency, we simply offer an innovative tool to facilitate transactions/exchanges.

Tim Draper’s bold prediction

Dealstreetasia reports that Tim Draper (a cryptocurrency venture capitalist) believes the cryptocurrency market will reach $80 trillion within 15 years. Tim is quoted as saying

The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here (with bitcoin)”

 

Currently, the cryptocurrency market is evaluated at $224.8B which means that the market will need to 356X in 15 years to meet the expectations of Tim.

 

In a Bloomsburg Interview Vitalik Buterin (co-founder of Ethereum) stated

If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.

Vitalik Buterin then went on to clarify saying that in order to have growth we need some utility. Only a small fraction of the investors in cryptocurrency today are using ETH tokens on Dapps, but rather holding them as an investment.

A new governance in Ethereum?

ERC777 is a new model that could replace the standard ERC20 tokens on the Ethereum platform. This plan was created by Jordi Baylina, Jacques Dafflon, and Thomas Shababi. This new model would give tokens an easier transaction function but would allow smart contract coders a way to step into transaction disputes. This new system would allow a “hook” to block certain addresses, and allow owners to handle disputes. This proposed system isn’t new though, it was introduced back n November 2017, and is still being debated today by the community.  This is certainly a debate and topic that investors/cryptocurrency enthusiasts should not overlook.

 

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