Charles Hoskinson predicts the correction of the cryptocurrency market

According to one of the founders of Ethereum and the Creator of the cryptocurrency Cardano Charles Hoskinson (Charles Hoskinson), the cryptocurrency markets are heading for a serious correction that will help to get rid of the projects with poor quality Foundation.

In 2017, the cryptocurrency market have experienced a powerful upsurge, and this has resulted in the cryptocurrency sector capital by hundreds of billions of dollars. However, according to many watching the industry, investors who rushed to participate in a price rally, are gradually beginning to realize that the majority of projects is very low quality baseline. Charles noted that the collapse will be followed by consolidation.

In the early stages of the Ethereum project (late 2013 – early 2014), Hoskinson held the post of Executive Director. At the moment, Charles has led the company to study the blockchain IOHK, which including is engaged in the development and maintenance of cryptocurrency Cardano, a member of the top five cryptocurrencies by market capitalization.

Hoskinson believes that now the market has a huge number of digital currency with a bad basis. Such cryptocurrency is overrated and unsustainable. These projects will cause the collapse of the entire cryptocurrency market:

«Most of these projects are initially devoid of any prospects, either because the project does not have a good technology or idea is too ambitious. Such projects sooner or later will face any big problem that can not solve, and then you will see how they will break.»

However, Hoskinson noted that some time this will not happen, because many of the projects have attracted large amounts of capital through ICO. But in the end the collapse in the market is still going to happen, and then the capital konsolidiruyutsya stronger projects, and in the long run it will strengthen the entire industry of crypto.

Another early participant in the Ethereum, Stephen Ariff (Steven Nerayoff), who also shared his opinion, is more optimistic:

«The cryptocurrency space is constantly growing due to the interest of the public to kriptonyte, there are more areas in which you can invest. Therefore, to expand the cryptocurrency will not only direction, but also adjacent to this region.»

Marioff, calls himself the «architect» Ethereum. He believes that the price of ether for the year tripled, which may lead to a global revolution, after which the ether will be the most valuable cryptocurrency.

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