It looks like the cryptocurrency community could get into serious trouble if they continue with their immature and materialistic ways.
Ethereum’s founder is apparently fed up with the immaturity of the digital currency crown, and might even leave the scene if this continues.
What is Ethereum Founder Mad About?
The 23-year-old Vitalik Buterin took to Twitter on Wednesday and threatened that he would leave if the crypto communities don’t get their act together.
He said people should “differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society.”
Buterin believes people are focusing on posting meme about luxury cars and inappropriate jokes. These are not the direction he had envisioned for the cryptocurrency world.
Ethereum Price Action
Ethereum, the second largest cryptocurrency by market cap after Bitcoin, has been hanging around the pivot level of $718 after the temporary pullback towards $472 last week.
As I covered in our 2018 cryptocurrency market overview, the pullbacks and consolidations don’t mean that we won’t see new all-time highs across the board next year. We also could see yet another pullback, whichever comes first.
ETH/USD could see a pullback towards $359 and gains towards $1,700 in the new year.
Ethereum has actually paved the way for hundreds of initial coin offerings.
Now the total cryptocurrency market cap is around $0.5 Trillion. However, Buterin believes we have not quite earned this price explosion.
Perhaps this could lead the way for a better crypto community in the new year.
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With that, I’d like to wish you a happy new year, invest responsibly, and I’ll see you with more updates in 2018.