MoneyConf Comes to Town

The world's leading bitcoin, cryptocurrency and fintech experts are in town this week for the 2018 MoneyConf to talk about all things digital currency and blockchain-related. The folks behind MoneyConf are the same guys that brought the hugely successful Web Summit to Dublin in years past. The event looks impressive and covers a vast array of the many challenges facing fintech entrepreneurs today. 

Alongside our thirteen content tracks we have also launched two new stages, CryptoConf and eXchange, allowing us to dive deeper into bitcoin, blockchain and crypto as well as retail, e-commerce and payments..... Centre Stage will see the biggest speakers at MoneyConf talk on the most pressing issues facing fintech today. Tracks covered will include regulation, banking, credit and lending, AI, data and machine learning, insurance, fraud and cybersecurity, wealth management and more..... Bitcoin, blockchain, digital cash and the volatile cryptocurrency market have dominated the headlines this year. Given that there are now over 5,000 cryptocurrencies, what are investors betting on? What does the future hold for ledger technology? This stage will look at the challenges facing bitcoin, blockchain and cryptocurrency today.
— MoneyConf 2018

The mood is very positive on the ground. The mood on the exchanges however, is a little more subdued. Since my last note on Crypto Volatility just a few weeks ago, the market cap of the sector has dropped a cool $100 billion from $400 billion to $300 billion, based on the 1,642 digital currencies now listed on Coin Stats. In that note, I said I expected 90-95% of the 'coins' would end up worthless. I have no reason to change that view. I also said I expected the granddaddy of the sector, Bitcoin, to trade under $4,000 (from $8,700 in Mid-May) and we would see what happens after that. Today, Bitcoin is trading at $6,700, -23% in just 3 weeks. 

 
 

The innovations taking place in blockchain are impressive and fortunes will be made in this sector in the years ahead. However, markets are markets and cryptocurrencies experienced a bubble, which is now in the process of bursting. I think the sector needs a washout first before the next chapter is written.

At Secure Investments, I advise individual clients on their pension and non-pension fund investment portfolios. To learn more about my Active Asset Allocator and Gold Trader  investment strategies, please get in touch at brian@secureinvestments.ie or 086 821 5911. If you are reading this via LinkedIn, why not visit Secure Investments and subscribe to get exclusive content for free. No spam, ever. Just great stuff.

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