Screen Rant got hold of a quote from Cloverfield director Matt Reeves in which he discusses the possibility of Cloverfield 2:
"While we were on set making the film we talked about the possibilities and directions of how a sequel can go. The fun of this movie was that it might not have been the only movie being made that night, there might be another movie! In today's day and age of people filming their lives on their iphones and handy cams, uploading it to YouTube... That was kind of exciting thinking about that."
The only thing in a theater worse than a long home monster movie is a second long home monster movie! And, about the SAME monster!