The future of cryptocurrency was looking good in early 2018, as prices rose higher and more people began to buy. Many people were growing rich off of bitcoin mining and other types of currency mining. But this inevitable rise is also followed by inevitable fall, as in most bubble economies. Competing currencies may have something to do with it, as speculators begin jumping ship to look for the next big e-currency, like Ethereum and Tether. (Forbes). As Bitcoin becomes more popular, more new investors may unbalance the price.
In many ways the bitcoin boom is reminiscent of the early 2000s dot com boom. Massive amounts of hype surrounding the idea of online businesses over-saturated the market and caused investors to look elsewhere. The amount of crypto currencies continues to grow and includes Bitcoin, Ethereum, Tether, Classic, Dogecoin, Neo and others. (Financemagnates)
If the erratic trend of bitcoin continues, I suspect it will go the way of the dot com bubble, and cause massive damage to consumer confidence in e-currency in general.
21st Century Citizenship 