This failure will be caused by investors taking too much risk investing in cryptocurrency projects which later turn out to be scams.
Five major Initial Coin Offering (ICO) and cryptocurrency scams have already been discovered, including the notorious case of Bitconnect.
Claasen is confident that the cryptocurrency community will learn from these unfortunate occurrences and will be able to prevent them in future, as he told Business Insider. Claasen believes that investors are already being more careful, declaring that “this is a problem the market is good at solving.”
As Claasen further explained, Bitcoin will not be gradually growing to the value of $40,000 over the course of 2018. Instead, it will be bouncing for three to six months with the same ups and downs as during the previous three months.