Matt Hougan (Global head of research at Bitwise and the creator of the world’s first cryptocurrency index fund) recently appeared on a Bloomberg’s podcast. There he stated and presented some shocking facts about cryptocurrency.
According to Matt Hougan, the mainstream spotlight that was recently given to the cryptocurrency was a waste of time and is a shame because it won’t stay for too long. He exclaimed the situation of cryptocurrency to be “Bubble” by which he means some phenomena that live for a short time and then bursts.
These financial “Bubbles” carry a negative reputation in the market and can ruin the future scope of the virtual economy. But he also shared that this incident manages to capture the indulging and intense interest of media in the field of Crypto market and blockchain.
According to him, the soaring crypto prices have been able to garner enough potentially active talent pool which came to rise because of the mind-boggling breaking news about cryptocurrency in 2017.
He strongly believes those interesting things because of those events will come out in the open, but for now, he exclaimed that “2018 is going to be a difficult year for this market”.
Matt says that about 95% of the current cryptocurrency will die in the coming years and for some reason he assured this as a good omen for the market.
He focused on those 95% currencies because according to him those are useless and needs to be eradicated so that more and more Facebook, Amazon and Google can rise up from the ashes.
So, Matt Hougan clearly indicated that the crypto market is going to see a boom in the coming years when it comes to virtual currency.