It seems the 2017 cryptocurrency boom will not come along again. Speaking to Bloomberg, Ethereum founder Vitalik Buterin said there is no room for another boom like that. Despite the comments, reports show other market leaders bullish about the future performance of cryptocurrency. Buterin received a lot of criticism for the comment since the price of Ethereum tanked in the comments’ aftermath.
As a result of the comments, there ensued a discussion on twitter that brought together market leaders. With Justin Sun of Tron (TRX) at the forefront, the leaders believe cryptocurrencies have a bright future. In a tweet, Justin said: “I do believe the entire world wealth will turn into cryptocurrencies like blackhole and grow much bigger in the future. Cryptocurrency will hit 10 trillion USD market cap before @Apple and @amazon do. We will see. Time will tell.”
This is a very big statement coming from the founder of one of the best performing tokens in the market. It seems he is not alone in the belief. Many other leaders believe cryptocurrencies will do even better in future.
In response, the Ethereum co-founder came out to clarify his sentiments. He notes that the media misrepresented his comments.
Market leaders bullish even as the blockchain reaches “ceiling”
Earlier in the interview, Buterin said: “The blockchain space is getting to the point where there’s a ceiling in sight. 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.”
In his rebuttal to the backlash, the Ethereum co-founder took to twitter to explain himself. Writing on his account, he said, “To be clear, I never said that there is “no room for growth” in the crypto ecosystem. I said there is no room for *1000x price increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today’s global wealth being in crypto.”
The backlash reveals market leaders bullish about the digital tokens even when the future is not clear.