Crypto-currencies will get even more attention this year.
Many analysts around the world see cryptocurrency to be a mighty force in 2018. Mark Zuckerberg from Facebook investigates how he can venture into this idea of “decentralization”.
What would happen this year in the Crypto business? Would Bitcoin still be king? Or would Ethereum take the thrown and Bitcoin takes the bow? Or alt coins, what would their fate be? Would the idea behind “decentralization” gain attention and grow even more?
2018 is a year where investors and internet users would have to watch out and must stand on their toes watching out for what will happen. Here are 6 Cryptocurrency trends to watch out for this year.
Bitcoin to lose its throne
Bitcoin started on 2009, had been a leader of the cryptocurrency industry. 2017 was a favorable one for Bitcoin with the top cryptocurrency leading others by a high margin. There are other currencies that are getting competitive. This could take Bitcoin off the cryptocurrency throne.
The likelihood of the Bitcoin network breaking increased. This in turn can lead to another cryptocurrency overtaking them.
When it comes to scaling, bitcoin’s growth is very orthodox due to political reasons. If Bitcoin’s scalability doesn’t improve this year, then there’s a risk of the coin being pushed down by another cryptocurrency.
Decentralized applications (dApps) to gain traction
The main idea behind cryptocurrency is “Decentralization”. There are a variety of decentralized applications being built. According to State of the dApps (decentralized Apps), there are over 950 dApps built for Ethereum alone.
Most of this apps will become live this year and even if only a little percentage of the projects boom, there will still be some popular once. The apps can be used for different purposes:
- tokenization of assets
- payments & lending
- and many other uses.
The market might have a very high bar for any ICO project. This is the likely because there are more operative dApps which investors can decide to invest their money in. Investors will be given the choice to support projects at a later phase. ICO projects will have to show progress to be appealing for financing.
Blockchain technology would show the world it’s full possibilities and potential aside from payment making. Blockchain would be utilized fully to satisfy cryptocurrency and human needs.
The value of cryptocurrencies continues to grow
There are still possibilities for the cryptocurrency market to experience more growth. Cryptocurrency investors need to expect a certain melt-down and volatility. Overall the market would continue to growth. There would be an increase in the value of the cryptocurrency market. This would fuel long-term innovation and investments in functionality.
In 2018, more institutions and more individuals will buy bitcoin and other cryptocurrencies. Buyers need to take precaution. Bitcoin can't continue to grow in value unless it scales in the real world. Critical governance issues need to be solved as well.
In this year, we will experience a new wave of institutions and personal money going into the business and cryptocurrency market. With time, they would learn to be part of the cryptocurrency rave and the issue is currently being looked into by most firms and persons. The Coinbase platform has it’s vault where crypto assets are being stored. Currently, some traditional financial services companies provide new services which they set up. Some of which are; funds and futures trading which are related to cryptocurrency.
Within the next decade, top cryptocurrencies would be widely used on many platforms.
Cryptocurrencies will be legitimized
The cryptocurrency market is increasing and flourishing quickly. The London Block Exchange estimates that one-third of millennials will invest in Bitcoin by 2018. The publicity about cryptocurrencies has improved within the past few years. Cryptocurrencies have no orthodox mainstay such as Central Banks. Their existence is related to mining, and "blockchain." So, let’s break it down.
Blockchain is a database or account book of interconnected records of peer-to-peer proceedings. These are called blocks. Those blocks are tracked and locked from influence and they are openly shared. The proceedings can involve any medium of exchange such as Bitcoin, financial assets, records, or any type of data. Blockchain transactions are carried out without a third-party like a bank.
Initially, most organizations and governments were against cryptocurrencies. As time went by and as information and more details about cryptocurrencies emerged government began to acknowledge the benefits of cryptocurrencies.
In 2018, governments and financial institutions will work towards standardizing and legitimization of cryptocurrencies.
Thеrе will bе a mаjоr соrrесtiоn in thе ALTS
Easy come easy go. Lots of реорlе are sitting оn massive рареr gаinѕ fоr ѕhаllоw аnd illiԛuid соinѕ. Mаnу of thоѕе coins trаdе оn small exchanges, with limitеd capacities. Whеn a big diр соmеѕ and ѕеllеrѕ dоn’t see buyers, they are unаblе tо sell in ѕizе, and lооk fоr аnу еxit орроrtunitiеѕ. This year, we will see a mаѕѕivе rеrаting оf the аltѕ space. Whilе thеrе’ѕ tаlk оf relative vаluе in Tiеr 1 соinѕ, fеw will step in whеn the ѕесtоr truly goes red. It take a certain type оf composure tо buy something thаt’ѕ dоwn 85%. Nеrvеѕ of ѕtееl. Stay саlm аnd саrrу оn.
Cоinbаѕе’ѕ еxtrеmе influеnсе will continue
In thе US, there аrе rеаllу оnlу three retail оn-rаmрѕ intо сrурtо. Cоinbаѕе, Gеmini, and Krаkеn. Because the space has grown ѕо ԛuiсklу аnd thе Stаtе-Bу-Stаtе MTL mоаt iѕ ѕо widе, it will tаkе ѕignifiсаnt timе fоr оthеr рlауеrѕ tо еmеrgе аnd gеt plugged into thе US bаnking infrastructure.
This hаѕ been exacerbated bу the еffесtivе dераrturе оf Bitfinex from thе US market. Thеrе’ѕ hоре thаt Bittrеx will get to fiаt, but nо оthеr good solutions are in sight. Whаt wе ѕее fоrming in thе US iѕ аn оrgаniс natural monopoly, where a dесеntrаlizеd gаrdеn iѕ supposed tо flоuriѕh. Evеn thе drеаm оf dесеntrаlizеd exchanges presupposes thаt thеѕе “mоnеусеntеr” еxсhаngеd еxiѕt.
It’ѕ gоing to be аn intеrеѕting уеаr fоr еxсhаngеѕ.