On route to Davos, Nasdaq CEO Adena Friedman says 2019 will be a year of disruption and innovation. Cryptocurrencies could still be a global currency if the “tremendous demonstration of genius and creativity” finds practical utility.
For many, that dose of reality is a real hard hitter. Over $400 billion has been wiped off the market capitalization of cryptocurrencies. Bitcoin’s price has fallen from highs of $19,000 to lows of $3,200. Early investors may still be in profit, for those who joined the market on its way up, they are sure feeling the downside.
It’s tough seeing an industry with billions in investment, tens of thousands of credible startups, and stalwart progress towards adoption, compared to a not so successful “personal transportation device.” Even if the Segway was a precursor to technology like the hoverboard.