Data Mining In 2018: Why It Was A Failure

Since its boom, cryptocurrencies have become amass media matter. Not only Bitcoin, but also the other currencies were, infact, extremely popular both from a social point of view and from an investmentone. When the professional figure of the “crypto trader” was born, infact, crypto as a whole developed to the point in which it collapsed hard onitself. Let’s analyse the matter in more detail, starting from data mining asan overall process.

Costs In 2018: High Risk, Low Profit.

As we all know, data mining requires a significant investment both from ahardware and software point of view. Datafarms have been fluctuating around the $ 10.000 area since 2016,especially the ones who were made in order to mine Bitcoin and other superCryptocurrencies. With this in mind as the starting point, we must alsoacknowledge the fact that data mining has covered almost the entire amount ofdata available, making such investments quite risky with little to none profit.

Trading Crypto

What’s a Bitcoin” was one of the mostsearched terms on Google in both 2016 and 2017 and then drastically dropped in2018, due to the fact that the overall hype around cryptocurrencies started tofade. Another important bit that must be taken into consideration when it comesto trading crypto is related to the supply and demand of such currencies. In2018, the demand related to crypto values went down by 56% compared to itsprevious year, a reason why many started to sell their e-pockets and coins intheir entirety, drastically reducing their values.

Was Crypto A Big Bubble?

Crypto currencies were something that impacted the world as we all know. From apractical point of view, the impact of crypto was so big that it actuallyattacked Wall Street, becoming a financial matter on the highest floors offinance. Bitcoins were considered a bubble by many financial analysts sincetheir beginning, due to their accessibility, traceability and many more reasonswithin these two. Many Android app development and iOS appdevelopment companies, in fact, pointed out how the requests formobile-friendly portals faded away this year.

To Conclude

Data mining, especially for super crypto coins isn’t a sustainable form ofbusiness anymore, whether if considered from an admin, results or installationpoint of view. We can safely say that the whole crypto-thing was a bubble andit popped pretty hard.