Korea Blockchain Week 2019 recently concluded and attracted big names in the crypto industry. The event was attended by Vitalik Buterin, Mike Novogratz, Nick Szabo, Adam Back, Tom Lee, and many others, each of whom spoke about the future of BTC and altcoins. The event ran from September 27 to October 4 in Seoul, and the D.FINE conference, which featured well-known industry figures, took place from September 30 to October 1. The event attracted as many as 4,000 attendees and 50 speakers. One of the most anticipated speakers at the conference was Vitalik Buterin, co-founder of Ethereum, who took to the stage to explain various blockchain-based applications and systems. In his presentation, of course, he talked about Ethereum and DAOs. Mike Novogratz attacks altcoins The most interesting speech for most investors was by industry expert and billionaire Mike Novogratz. The CEO of Galaxy Digital Holdings gave his views on the cryptocurrency markets, altcoins and the performance of the Bitcoin network. He stated that the markets overestimated the short-term effect Bakkt was going to have, which partially explains the drop in the exchange rate we saw last month. As for the price of BTC, Novogratz said he doesn't expect it to fall sharply again below some important level. His commentary on the altcoin market was equally interesting, though it probably angered many. Novogratz stated that there is a lot of "junk" in this space that has raised capital from naive investors. Unfortunately, the level of money raising was far greater than the fundamentals of the tokens and cryptocurrencies in question. In other words, these assets have been overvalued by the market. "To keep the speculative market alive, you need fuel from time to time in the form of news and updates. We need to look at these tokens as a venture project." - Novogratz vividly described the market. According to him, those projects that did not continue their development are likely to disappear from the market, while the strongest ones will survive. Although he himself did not name names, looking at today's market, Ethereum is again one of the best projects, which probably took the second place after Bitcoin for good.... Tags altcoins altcoins to junk altcoins trading altcoins exchange rate Mike Novogratz vitalik buterin
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