Entering 2019, Bitcoin experienced a plunge and has not yet returned to the level of $5,000. It has been hovering at the edge of the $4000 price. Stellar co-founder Jed McCaleb, who recently accepted a phone call from Yahoo Finance, said it was ridiculous to believe that cryptocurrencies were in the down cycle.
From his perspective, the current market conditions are at a high level, but overall they are still up. McCaleb added, “We don’t pay much attention to price, (price) is not very important to us.” But when cryptocurrency rises, it means more people will be interested and have enough money to do more.
On the downside of a number of cryptocurrencies, the price of the TRON (TRX) has risen since the end of November last year. It has risen to 3 cents as of today and is expected to return to last year’s level of 7 cents. But McCale pointed out that 90% of the R&D projects in the market are nonsense. He describes that things like TRON are ‘just garbage.’ But people put a lot of money into them, but these things are not technically feasible.”
When asked about the overall trend in the cryptocurrency industry, McCaleb said the market is growing faster than expected, or at least faster. At the same time, to his surprise, he was surprised by the current wave of uncontrolled distribution dominant market trend, capital, and resources. When these projects of no technical value earned millions of dollars, he called this a big shame. However, when the market calmed down, he hoped the situation would start to change.