Interview with Nye: The Collapse of Bitcoin in 2018 is All About the Market Cycles

The end of 2018 became a real challenge for cryptocurrency traders and holders. In a year, the BTC peak values have decreased by almost 4,5 times in price. Many people have left crypto community during this period, however many crypto experts not only “remain at duty” but also truly believe in the future of the cryptocurrency.

Today we want to show you this situation from the insider’s perspective. Nye is a specialist in digital marketing in the sphere of cryptocurrency and blockchain.

Since 2017, Nye has been doing crypto business and trading, he is also creating his own brand and running his Elevated District company.

Good day, Nye! You are telling everybody about blockchain’s advantages globally. Tell us, please, how did you come to the point when you realised that blockchain is the technology of the future.

I think it came with learning more about our current financial systems, our current economic models; and seeing the potential that Bitcoin has, and the potential that blockchain has to change all those thing.

In your opinion, what problems is blockchain industry experiencing or why do so few people know about it?

I think a lot of people know about it. I don’t think the problem is knowledge, the problem is adoption. There isn’t any clear use cases. Well, let me rephrase that: there are clear use cases, but there have not been any clear implementations of those use cases on a broad mass scale yet. And until that happens, we are going to see some struggles.

What was the reason for the crypto market collapse in 2018? How soon will cryptocurrencies recover?

It is just about market cycles, so we are obviously at the very top of the market cycle, at around 19-20 thousand US dollars for a Bitcoin; and we’ve seen a significant, over 80%, drop in the last 12 months. That’s just how markets work – it can’t go up forever, it just doesn’t work that way. How soon will it recover – no one knows, that’s not an answer that anyone could predict.

Our usual question: what will be the rate of BTC in 2019?

I can’t predict the future. I have no idea.

Nye, please tell our readers, where will they be able to see or hear you in the near future?   

You guys can find me on Twitter @CryptoShillNye. My website is https://iamnye.com/. Any of those places.

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