Home News Cryptocurrency Influencer Survey: Bull Market Near, Adoption Off, Stablecoins Useful

Cryptocurrency Influencer Survey: Bull Market Near, Adoption Off, Stablecoins Useful

TL;DR: Nearly two dozen cryptocurrency influencers, from entrepreneurs to pundits, a broad sample of partisans and professed neutrals, weighed-in on the overall market as of Q2 2019. It’s a quick, easy to digest gauge of sentiment from those actively involved in the ecosystem, and the results are far from hopium and irrational exuberance. While most feel a bull market is near, many were less than enthused about overall adoption — commercial nor institutional.     

Cryptocurrency Influencer Survey for Q2, 2019

“Many different perspectives make up the crypto industry,” analyst Peter Ryan prefaced in Community Perspective Q2 2019. “It can be hard to keep tabs on all of them. Ryan Research’s debut report profiles over 20 thought leaders from across the industry.” In fact 21 samples were taken, surveyed, asking 5 questions, ranging from bull market sentiment to which cryptocurrency has the most potential. Rival news outlets, competing blockchains and coins, venture capitalists, even lawyers were asked their thoughts. Information graphics situated above each profile allow for skimming, and readers can clearly get a sense of the influencer’s point of view. But if more depth is sought, a paragraph fleshes out what most concerns folks heavily entwined within the industry.

“Crypto is undergoing, at time of writing, a recovery,” Tom Shaughnessy of Delphi Digital explained. “Unlike 2017, the market is more aware of what Bitcoin, Ethereum and crypto is and the infrastructure (exchanges, wallets, custody) is more mature than it was during the last bull run. The smart contract wars are accelerating as Polkadot will launch this year and Tezos is gaining momentum, but at the end of the day Ethereum is the leader and it’s Ethereum’s race to lose,” he stressed.

Image courtesy of Ryan Research

Better than 60% believe the market is heading toward a bull run. A consensus like that isn’t found anywhere else in the survey, and might point to either a collective delusion (not out of the question) or how each is seeing positives from their respective sectors. Influencers were openly split on cryptocurrency being ready for institutional adoption — the cocaine of most ecosystem banter. As for commercial adoption, only 33% felt the industry was anywhere close. Stablecoins are becoming more useful for nearly half of those surveyed, which falls in line with most headlines of late.

CoinSpice Executive Editor Hayden Otto was also profiled for the report, insisting, “The majority of crypto market participants are here to speculate on price rather than to use cryptocurrencies as they are intended. This has allowed vaporware projects to prosper and BTC to continue ranking #1 by marketcap; this won’t last forever. Soon enough the penny will drop and we’ll see the projects with real value rise to the top – Bitcoin Cash is a top contender here. In recent months it’s added tokens, tools which increase privacy and fungibility, schnorr signatures, and built platforms which enable anyone anywhere in the world easy access to buy or sell Bitcoin Cash. Despite relentless attacks against it, Bitcoin Cash is stronger than ever and enterprise level business is paying attention – I expect economic activity to greatly increase on this coin and in turn it’s price will follow.”

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH. 

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