Roman Pecholov, cryptocurrency expert and founder of the MarsDAO ecosystem, said that the cryptocurrency market is now more vulnerable to volatility and manipulation than ever before.
The expert pointed out that the prospects for these currencies in the coming year will depend on the behavior of “whales” in this area.
According to him, the cryptocurrency market is currently experiencing the same “symptoms” that were present in the stock market at that time – constant volatility.
The expert stated that in 2017 there were fewer rules in this area, which in principle is good for the market. He noted that control and regulation is gradually spreading in the cryptocurrency market, and the process of issuing new currencies continues, despite the dominance of bitcoin in the market.
He said: “We have to keep an eye on what is happening in the market. For every hundred projects, there are two or three projects that will get a good market capitalization and be able to further develop their products.”
The expert noted that many expect the market to fall further. The reason for this was the talk about the FTX cryptocurrency exchange, which declared bankruptcy through the court.
On Nov. 12, Bloomberg reported that FTX lost $662 million in a single day under mysterious circumstances.