My own basic views on cryptocurrencies to this point have been the following. The advent of the blockchain and the supported cryptocurrency systems are almost undoubtedly transformative. The fact that cryptocurrencies have experienced two successive major asset price bubbles first in 2017 and again 2021 is evidence of meaningful future potential in the same way that the dot com bubble of the late 1990s heralded how the Internet would change the way we live our lives in the more than two decades since. But from where we stand today, several key questions linger. How exactly will cryptocurrencies be transformative, and over what future time horizon will any such changes play out? Also, how will the winners and losers be determined along the way? The following were some of the key takeaways from the conference: While cryptocurrencies are often perceived as potentially viable alternatives to the fiat currencies such as the U.S. Dollar and the Japanese Yen among many others that we have come to know so well over the years, they don’t behave as such at least to date. This is also true of the traditional global alternative reserve currencies like gold, as the historical price relationship is generally weak. Instead, cryptocurrencies like Bitcoin move with a very high correlation to the tech-heavy NASDAQ Composite Index.
Full opinion : The Path Forward For Cryptocurrency.
