It is most convenient to divide any history into different periods. At school, we were taught that world history consists of periods extending over several hundred years—from primitive society to modern times. We are accustomed to dividing the history of states into periods of 25, 50, or 100 years. And the history of the contemporary world economy is calculated in periods of 10–20 years. Each such period is usually associated with well-known figures who played an essential role at the time. These are kings, politicians, great generals, scientists. The history of cryptocurrency and blockchain in the world chronicle is just beginning, and we are still viewing it under a microscope as almost every event is perceived as a historical moment. And the time intervals are still tiny. But there are already plenty of actors in its history.
2018 with No Face, but with an Avatar
Every year, cryptocurrencies are tested for endurance, and every time it happens as per instructions. Behind all the events, as a rule, there is someone famous. In 2016, Vitalik Buterin, creator of Ethereum, became a star.
2017 was a multifaceted one at that, so it is difficult to find out who best fits the role of a representative of that year. One thing is certain: the ICO abbreviation back in 2017 was at the top of the search queries. As well as mining, video cards, and trading guidelines.
Starting from 2018, everything has been much more interesting. This year cannot be associated with someone from the developers or analysts. A whole group of people or an organization is more likely to claim the role of a person of the year. An organization that regulates the U.S. stock market.
If we enter “SEC” in the search bar on the DeCenter website, we will receive about 20 articles on the topic that were published throughout the year. Considering that just as much information indirectly related to this organization will be found in other materials. It turns out that the SEC is the highlight of 2018.
The SEC Is Big and Scary. And Everyone Is Already Tired of It
Last year, the Securities and Exchange Commission became famous for its slowness in approving a Bitcoin ETF and regulating the market. Many would agree that these conversations are already pretty boring. All you can hear is that the SEC will postpone its decision for yet another month. Then another month, and then it is transferred to the next year.
No one is surprised by the news that the SEC bans ICOs, scrutinizes projects for fraud, threatens decentralized exchanges, and penalizes overly active traders. After all, it began at the end of 2017 when everyone was distracted by the growth of Bitcoin. Nobody wanted to perceive and understand how much this would affect the market short-term. And, as it turned out, they did so in vain.
To this day, regulators feed everyone with promises that Bitcoin is recognized as a real trading asset. On this basis, the community spent almost a year waiting for the manna from heaven and shuddered whenever they heard the latest news about the SEC. It is not surprising that in such a situation, market capitalization went into hibernation, and traders fled in fear. Miners also got the flip side, and they made a global sale of video cards. In other words, stepped on the rake.
But there was a but…
Fear, Uncertainty, and Doubt
It seems that all the facts unanimously indicate that the SEC became the symbol of 2018 in the crypto market. This can end the controversy and sum it all up. But what if we are deceiving ourselves again? Missed something? Common sense dictates that the answer is very close.
In fact, throughout the whole year, the SEC did not make any decisions, and the world economy still did not consider Bitcoin “as one of its own.” Yes, we have already written that, most likely, all these manipulations were a good show, which the audience believed in without question. Whether it was good or bad, it will be known later, but for now, there are positive aspects of the situation: the market unloaded, and the community once again became interested in technology—not in earnings.
It turns out that the primary vector of market movement in 2018 was tied only to news of a neutral nature. So, without a hitch, we personally pressed the market. How did we do it? Using FUD—fear, uncertainty, and doubt.
This term refers to the tactics of psychological manipulation, which are used in marketing and consist of presenting information about something (in particular, a product or organization) in such a way as to sow the seeds of uncertainty and doubt among the audience in its qualities and cause fear of it.
At the beginning of 2018, this term started appearing in the Western media, and this phenomenon was even practiced in small-scale fraudulent schemes. Already then, we wrote that it was a powerful tool for influencing the psychology of the crowd, and with its help, one could seriously control the price of an asset. This was confirmed after almost 365 days.
FUD was the face of 2018! Now that’s a plot twist, isn’t it?
How to Stop Worrying and Start Living? The Anti-FUD Pill
For those who still doubt the future success of cryptocurrencies and blockchain technology, there are a few interesting notes about the other candidates for the title of the face of the 2018 crypto year:
Changpeng Zhao is the No. 2 candidate for the 2018 face in the crypto world (after the FUD, of course). The founder of Binance. He is called the most influential man in the world of cryptocurrencies. He and his team successfully completed the ICO and already began to buy tokens back from users last year.
Despite the bearish trend, Changpeng Zhao is positive and says: “Price is a very strong attraction for speculators; the industry will grow thanks to builders who make applications and ‘real use cases’ that drive the further adoption of cryptocurrency.”
John McAfee is candidate number 3. Everyone knows John thanks to his antivirus software. Today, he is a no less influential person in the crypto industry. The community started paying particular interest to McAfee when he began to predict cryptocurrency rates on his Twitter account.
He recently said that if Bitcoin did not grow to $1 million by 2020, he would eat his penis. In 2016, he promised to eat a shoe if he could not crack the iPhone. Nobody saw him with a boot in his mouth. It seems that he knows something about Bitcoin too.
And in early December, McAfee began to stock up on cryptos, arguing that there would be no better day to enter the market. He told about it on Twitter.
Mark Zuckerberg is a new old character in the crypto industry. Mark used to speak only negatively about cryptocurrencies, and in early 2018, he even supported the ban on advertising of ICO and crypto projects on Facebook.
Later, this ban was lifted, and more recently, it was reported that Facebook was trying to create its own cryptocurrency for some secret project.
Each year the crypto market welcomes an important period in which new personalities and new directions are necessarily found. The law of history dictates the light phase will inevitably replace the dark one. Therefore, in the new year, we are waiting only for miracles!
Happy New Year!