Crypto Could Still Be ‘Global Currency of Future’: Nasdaq CEO
By CCN.com: On route to Davos, Nasdaq CEO Adena Friedman says 2019 will be a year of disruption and innovation. Cryptocurrencies could still be a global currency if the “tremendous demonstration of genius and creativity” finds practical utility.
Pioneering, Followed by a Dose of Reality
Friedman, like others, believes the cryptocurrency space has gone through the first stage of the “classic invention lifecycle” this is:
“Marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.”
For many, that dose of reality is a real hard hitter. Over $400 billion has been wiped off the market capitalization of cryptocurrencies. Bitcoin’s price has fallen from highs of $19,000 to lows of $3,200. Early investors may still be in profit, for those who joined the market on its way up, they are sure feeling the downside.
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