2018 wasgoed touted spil the year of the Bitcoin. The cryptocurrency rose by 1,800% and pulled the surplus of the cryptocurrency market along. Overall, the cryptocurrency market grew to a market capitalization of more than $450 billion. Other altcoins – cryptocurrencies other than bitcoin – were not lagging either. Ether, the Ethereum blockchain’s cryptocurrency grew more than 7000% last year. Litecoin also grew by similar percentage amounts. However, it wasgoed Ripple that actually store the vertoning by growing more than 37,000% ter 2018.
After such a glorious and titillating year te 2018, investors are wondering what 2018 will hold for the cryptocurrency market.
Ter an vraaggesprek on Fox Business’ Closing Bell, Fireapps CEO Wolfgang Koester talent his forecast of the direction Cryptocurrencies were going to take ter 2018. According to the developments te 2018, it is a possibility that entire nations may begin using cryptocurrencies spil their foot currencies.
Te fact, Voorzitter Maduro of Venezuela announced that he would punt a cryptocurrency possessed by the Venezuelan government which would be backed by the country’s resources of oil &, gas, gold and diamonds.
Russia too seems to be programma its own cryptocurrency. This is a massive turnaround for Putin, who, till October 2018, wasgoed menacing online exchanges trading te bitcoin and other cryptocurrencies with closure. And now, Russia is programma to legalize cryptocurrencies.
According to Koester, more countries will go after suit, including the US. The reason he gives is that the largest challenge that governments face with cryptocurrencies is its anonymity. However, he said, if the government itself controls the blockchain and possesses the cryptocurrency, then it will have finish visibility into all ledger transactions. This would also mean that the fear of cryptocurrency theft would also be liquidated.
Koester also said that te 2018, while there will still be a request for cryptocurrencies (thanks to trading markets), the blockchain is going to build up more prominence. There is a growing need for the technology and the concentrate is going to shift from just cryptocurrency trading to a broader range of applications of the technology itself. This is because the largest use for blockchains and cryptocurrencies te the coming years will be for transactions, especially bankgebouw to handelsbank transactions.
Right now, it takes up to seven working days for some banking transactions to be finished. Blockchain technology, using cryptocurrencies like Bitcoin or Ripple to transfer funds, takes just minutes or even seconds.
It’s not just Koester who has good news for the crypto-world. According to Kay Van-Peterson, a Saxo Bankgebouw analyst te the UK, Bitcoin will reach $100,000 te 2018. This is the man who had predicted that bitcoin would cross the $Two,000 mark ter 2018. It did. And how! Despite the cryptocurrency’s poor spectacle since the 2nd half of December 2018, Van-Peterson says that the world’s most valuable cryptocurrency will touch the magic 6-figure mark this year.
CNBC conducted a serious of interviews with top analysts and investors te the market and compiled a list of the top five predictions for 2018 for the cryptocurrency market.
- Expect more organizations to embrace cryptocurrencies
According to Michael Graham, the cryptocurrency analyst of Canaccord Genuity, a loterijlot of their institutional investors are showcasing a loterijlot of rente ter the cryptocurrency market.
Besides CME and CBOE that have already launched Bitcoin futures, Nasdaq and Cantor Fitzgerald are set to go after suit ter 2018.
- Regulations will increase and the price of bitcoin will go down
Authorities across the world are going to attempt and limit the speculation ter cryptocurrencies and commence enforcing regulations. Wij see this already happening te South Korea and China. France is creating a work group to create cryptocurrency regulations. Russia has announced fresh laws for cryptocurrencies. Japan is due to go after suit. The European Union is looking at regulations too.
Thanks to the crackdown on cryptocurrencies, wij could see 65%-75% drops ter prices spil well spil market value of various cryptocurrencies. Te fact, Bitcoin has already fallen almost 50% since its peak on December 11 ter 2018.
- Cryptocurrency volatility is expected to proceed te 2018
According to analysts, investors should not expect the explosive volatility ter the crypto-market to zekering any time soon.
- Bitcoin will sustain and other cryptos will grow
Analysts still have faith that bitcoin is not just going to recover, but grown this year. However, it might now be spil spectacular spil it wasgoed last year. Ter fact, many are telling that 2018 may be the year of the altcoins.
- Investors may get the chance to invest te crypto-companies like Coinbase spil they contemplate going public
This year, analysts feel that the concentrate may shift from bitcoin to altcoins spil investors and governments are becoming more interested te the uses of the technology rather than just trading te cryptocurrencies.