The year 2018 has been one of the most challenging in the world of cryptocurrencies. Many people who have invested in cryptos this year launched their investments prior to or in the course of the bear market. Apparently, since 2014-2015, the current bear market is arguably the most elongated one. This is due to the fact that some of the cryptocurrencies have registered significant loses this year. Some of the disappointing occurrences include:
Investors who bought NANO towards the end of its record-setting 2017, when the crypto realized greater returns than most cryptos have had it very rough this year. At the beginning of the year, NANO registered impressively high prices over $35. However, in the course of the first half of 2018, the crypto has been trading for fractions of a cent, having been hit really hard.
At the moment, NANO trades around $2.70 after slightly gaining from the lows of $2.50. However, this is still over 90% down from where it was at the beginning of the year. The changes in prices should however not disgrace NANO. The fall in prices is largely as a result of the close of BitGrail.
The shutdown of BitGrail saw the theft of a lot of NANO’s aggregate amount. This, combined with the commencement of the bear market, is largely seen to be responsible for the fall. It is expected that as a result of NANO’s free instantaneous send, the crypto is bound to rebound again.
Those who are involved in the industry saw Telegram as a practical case in point. Its ICO launch apparently caught the attention of many people. As a matter of fact, crowdsale for the crypto’s TON token was believed to become one of the largest ICO’s. Many investors thought it would break EOS’s $4 billion ICO. Inopportunely, it never came to be.
After the company got $1.7 million from private investors, it decided to can its public ICO. This decision prevented millions of users from taking part in its revolution. Apparently, the unfortunate decision has been seen to set a negative precedent that disapproves the brass tacks of cryptocurrencies. This is because more cryptos are now preferring to ditch the ICO model and instead go for private options.
In essence, Consensus is arguably the largest cryptocurrency conference in 2018. Factually, this conference has had a very affirmative impact on crypto markets. In 2017, the Consensus conference was deemed to have been the largest. It was quickly followed by the summer crypto explosion that saw the exponential growth of adoption of cryptos.
The consensus 2018 event was big, with well over 9,000 people taking part. This was four times more than the previous year’s attendance. The unfortunate occurrence about the conference was concerns of the participants where ICO pitches took center stage. Additionally, participants criticized the conversations which dominated the event, where obscure as well as established ICOs were criticized for roping in private investors. This was done instead of focusing on the existing and imminent repercussions of blockchain and cryptocurrencies. Consequently, instead of slingshotting cryptocurrencies upwards, the deliberations of the conference resulted in a 30% drop few months afterwards.
EOS Mainnet Launch
The mainnet launch of the $4 billion has been the most disappointing occurrence in the crptocurrency industry in 2018. After delaying the launch a number of times, the event finally took place in June. The mess was as a result of the several setbacks like frozen accounts, security breaches, abuse of power from responsible government bodies, and malevolent conduct in endorsing some parities.
Moving forward, it is expected that much of the erstwhile distresses will be eradicated. However, a number of the features of EOS like the freezing of accounts and reverting of transactions may not change. This has left some speculators in the crypto world apprehensive. Some concerned parties have even suggested that before the end of the year, EOS could be a casualty of a major hack.