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RE: My Thoughts on Cryptocurrency Prices
I think that all of the points that you bring up are valid but the thing that sticks out to me is establishing a market value for a crypto. They're a commodity of sorts yet there is nothing (besides p2p interest) that can prevent them from going to zero. What I am thinking is going to happen this year is that when changes start happening in the broader markets we'll see cryptos go through a trial by fire to determine their worth. I'm interested to see how it works out and how cryptos will be viewed in the aftermath.
It is very tough to say but there are indications that we may soon be spending a lot on infrastructure repair, drought mitigation, and adjustments from sea level rise. The next hurricane season could be really bad. This kind of government spending just replaces things that are already in use and doesn't really add much new value downstream like spending on developing new technologies might. Excessive government spending like this could debase fiat currencies worldwide and lead to inflationary pressures. Bitcoin, steem and other crypto could be in a good position to retain value because of their global scope and partial insulation from government spending.
With that said, it's anyone's guess what will happen if the ca-ca really hits the fan, lol. A major food shortage could pull all the investment dollars out of everything. I personally doubt that will happen though.