Thomas Crown Art: Cryptocurrency Mobile Payments Should Expect Huge Shakeup

Anyone who’s been watching the cryptocurrency market in the last six months—not to mention the last couple of years—knows firsthand just how chaotic this market can get. In fact, a new report from Thomas Crown Art sent our way—you may remember them from earlier reports of a plan to essentially turn art into cryptocurrency—suggests that one more major change may strike in the next few years, which will see bitcoin lose massive market share to Ethereum.

Ian Mcloed of Thomas Crown Art made the almost unimaginable—because really, is there anything that’s truly out of line for the cryptocurrency market, which has already seen staggering highs and lows in just the last year—suggestion that bitcoin, before 2024 arrives, will lose half its market share to Ethereum.

Mcloed’s projection emerged in the wake of a major price hit to Ethereum, which in turn started a price recovery subsequently. Bitcoin had likewise taken such a hit, and it too was engaging in recovery, though it’s still been struggling to stay over the $7,000 mark since early September. Ethereum, meanwhile, has been on a much sharper decline, losing almost 85 percent of its value this year alone, at least until a recent jump in the price, followed by another steep decline.

Bitcoin’s biggest problems, Mcloed notes, are its overall lack of speed and its various scalability issues. Though there’s some indication that the Lightning Network may be fixing this, there’s a limited impact involved.

While Mcloed’s prediction here certainly is bold, it’s unclear just how likely it is to go off. Trying to predict crypto movements is the kind of thing that’s left more than a few paupers in its wake already, and second-guessing the market in such a fashion seems like too bold a reach. It’s possible, sure, but it’s almost as possible that every crypto in the world suddenly goes to zero in some kind of open revolt. There are too many possibilities with this market to aggressively pin down just one as Mcloed has done here.

Still, there’s certainly a case for this one to come off as projected, and if that does happen, it will be one more major upheaval in a market absolutely personified by them.