Those Who Have Knowledge Don’t Predict

It’s been a fascinating year for blockchain tech and cryptocurrencies. After reaching dizzying heights at the turn of the year, Bitcoin has seen its value fall steadily with alt coins falling further. Echoing this, 2018 has also proven to be a tough year for the global market amid trade tensions and a slowdown in economic growth and corporate profits.

However, Blockchain technology and the interest around it is on the rise with a growing number of prestigious universities offering courses on Cryptocurrencies, Smart Contracts and the underlying Blockchain tech. This coupled with many of the world’s largest companies such as JP Morgan, IBM, Spotify, Facebook, Visa and Google investing hundreds of millions of dollars in the future of the blockchain, it would appear that the future of the crypto space looks promising despite the crypto price decline, a fact that many futurists are keen to point out – crypto prices and their fluctuations should not detract from the underlying technology and the huge developments being made in this young sector.

In our recent Tim Draper Podcast, renowned venture capitalist Tim Draper argues that by buying, and more importantly using cryptocurrencies, we are not investing in the currency itself, instead, we are investing in the future. As investors having any insight into the future is invaluable, which may go some way to explaining why digital and blockchain tech is receiving major institutional attention. As the market begins to mature and the prospect of regulation and institutional acceptance nears, one wonders whether the recent downtrend will be looked upon in years to come as a buying opportunity? Perhaps, and only time will tell but the old Chinese proverb that “Those who have knowledge, don’t predict. Those who predict, don’t have knowledge” has never seemed more pertinent.