Substantial ebbs and flows have been seen in the crypto world in the year 2018. With many altcoins being launched and numerous technological advancements being made, the empire of crypto is growing huge. We have around 1500 cryptocurrencies lined up and the number is ever growing. But still cryptocurrency is rumoured to be a bubble and masses are scoffing about its future.
It was back in Jan 2009, when we were first introduced to bitcoin code by Satoshi Nakamoto. The bitcoin genesis block that began on a white paper has evolved drastically within a decade and has become the next big thing of the world. The rampant growth of the technology has attracted traders from around the world towards the crypto market. But lately, people are questioning the future of Bitcoins and altcoins due to the sudden crash in the market value of Bitcoins.
As we are heading towards the end of 2018, Let’s have a view towards the present and how we see them in the future 2019.
Obviously, there can be 2 possibilities:
Either the market will continue to drop.
If it does, then it is not an anomaly. In case, bitcoin drops again by 20-30% from $136 billion valuation to something $90 billion, the whole marker might drop by 90-95% of its peak value.
Either the market will rise.
If the market rises, it could be due to the platforms opening up for the institutional investors to buy cryptocurrency and Bitcoin’s in bulk. Bakkt trading platform will be available from early 2019 to the institutional investors for direct purchase of bitcoin. Those who have planned for setting ways for institutional investors to join cryptocurrency include black rock, fidelity, NASDAQ and Goldman-Sachs. Though, mass-adoption plans are still under construction and you have to wait 2-5 years more for them.
As I had mentioned earlier, about 1500 cryptocurrencies had been able to make their place on the exchanges till now. But you can’t say, all of these currencies are good for trade and investments.
Out of all the cryptocurrencies we have, we can say only 5-6% of them are extremely brilliant coins. And, to the contrary, 33.3% are completely useless known as ‘shitcoins’. And the rest you can say are average coins which may or may not perform good in future.
These include the real coins which have a clear picture of them of being in the crypto-world. They possess good market-plans, good teams and vigorous partnerships. How these might perform in the approaching 2019 can be conceptualized as:
Since, bitcoin being the earliest and most important cryptocurrency, holds the position of centre of attraction on the market caps. But mostly, whenever you scroll and search over the internet, you will find mixed reactions of all about the price rise had fall of bitcoin.
You may find two types of people:
The confident ones
Those Who still think bitcoin will reach $25,000 in 2019.
The despondent ones
Those who think, it will go as low as $100.
However, some advancements in the bitcoin network are likely to enhance the trade in the coming year:
- Bitcoin ETF: it is likely to make the investments more alluring for the cryptocurrency community.
- more and more exposure to bitcoin ATMs around the world.
- bitcoin IS would be the next useful revolutionary feature imposed in the bitcoin network and can be considered as the next standard in the cryptocurrency technology.
- lightning networks will also be supportive for Bitcoins to work over their drawbacks be it, transaction time and transaction fees.
Though, in case of legal acceptance, more and more countries are looking forward to adopt bitcoin as the legal payment system in the coming 2019. Majority of countries among these include those passing through economic meltdown with high inflation rate. These include countries from south America and Africa. Whereas, in case of bitcoin mining, China’s GDP Is supposed to play an important role.
Ethereum being a strong coin in the crypto ecosystem is likely to see some upward trend in the coming 2019. You can see a whole army of developers and entrepreneurs developing their products on the ethereum platform.
But according to experts, ethereum needs to resolve some of factors to perform well in the future. These factors include plasma, Casper, beacon chain, eWASM etc.
Taking into consideration, the price hike in ETH since long time by 727.7%, the ethereum price might rise up to $3845 in the coming future.
According to experts, ripple can be looked upon as a currency to hold on with. It is here to stay for a long run with constant growth as they have tactics to sway both banks and individuals chiefly.
Being considered a bridge between fiat and crypto currency, ripple can be thought to replace the former SWIFT system. But if we look upon long term forecast of any coin, it mainly depends on the investors, and in case of ripple, they have mainly banks as their investors with some individual investors as well. According to some recent surveys around the world, the fore art for ripple is thought to be around $3-5 by the coming year and is thought to be around $200-300 by year 2030.
Since IOTA is looked upon as the new phase of bitcoin as it resolves many issues that investors and traders face in the context of Bitcoins. These issues include massive power draw, massive centralization to ASIC pool, high power draw, slow transaction speed and limited transaction volume. So, IOTA is sure to attract new investors those are in search of trust in the market. Institutional investors are likely to hold on to their previous Bitcoins investments. But newbies can grab a chance on IOTA.
According to experts, IOTA is likely to reach $5- $100 in coming 2019. Since, IOTA is a brilliant coin providing secure and high-speed payments without any transaction fees, it Is likely to reach high but there are many factors to press it reaching that high as well.
Since NEO is looked upon as one of the most flexible coins, it is likely to have an upward trend in the coming 2019. It’s customers and use cases are likely to increase on the basis of its unconventional smart contract system language. It’s recent two hackathon events have also been looks upon by people with a thumbs up.
By the beginning to 2019, state channel technology might be employed so that transactions can be made off-chain. This might result in increased transaction speed and lower transaction fees due to the many transactions being held at the same time. More innovations are likely to be made on the NEO blockchain. These include more dApps and ICOs, and NEO based exchanges being launched. According to experts, this may lead to price rise as high as $200.
These coins belong to those class that neither have A backbone or a partnership. Either their growth is put on halt or can be treated as a complete scam. Looking forward towards the future of these shitcoins in 2019, we can predict that most of them or you can say 95% of them are likely to vanish in the next year. To name a few can be titcoin, metalmusic coin, macron and Russia coin.
Initial coin offering (ICOs)
ICOs can be looked upon to have a risky future in 2019. This can be elaborated due to two major reasons:
- The consistent masses are getting sceptic over investing in ICOs after the crash of bitcoin. Since bitcoin has always served as the Absconding factor from crypto to ICOs, its crash has resulted in hindrance in functioning of ICOs.
- the relatability of an ICO to a scam. Though, with time, investors are getting more and more aware of the scams, but still ICOs are not likely to enhance their status due to the scam factor.
Though STOs (security token offerings) can be looked upon as the next generation ICOs in the coming year as they have a better image. You may come across many STOs selling for thousands of dollars, that I, they are likely to be high in demand in 2019 and surely are going to save the entire crypto ecosystem.
In terms of investments, we can say large investors would not get involved in ICOs due to perils related to it. And we talk about small investors, they would not invest as they have been undervalued by the mainstream media.
We might perceive the use of bitcoin blockchain network more in other fields rather than just a currency. Coloured coins invented by Yoni Assia, CEO of eToro, provide us with a contemporary way of representing real world assets on the Bitcoin blockchain. From real world assets I mean stocks or bonds or any deed for a house or even in voting. The asset issuer supplies digital tokens with a commitment to redeem them for a product or service and the real-world value gets affixed to it. A wider range of Bitcoin transactions will also be favoured. In a way, 2019 may experience a multi-asset economy with real world collaborating with the crypto world.
Talking about the experts, CEO of eToro, Yoni Assia, believes that 95% of the start-ups are going to end in the future due to start-up funding. Though, the founder of first of its kind social trading platform strongly believes that invention of cryptocurrencies and blockchain will be far bigger than the invention of internet. According to him, if the people get to understand the concept of reexploring finance, economics and computers, cryptocurrencies will leave a deeper impression on the world. The era in which we are living will be referred as ‘revolutionary era’ in the future. The features like copytrading are attracting more and more people towards the crypto world. The easier and most handy crypto trading information will be for the small investors and day traders, the brighter the future will be for cryptocurrencies.
At the end, we may conclude that it is really complicated and difficult to judge the future of cryptocurrencies. If we look overall at the global economy, cryptocurrency is still in the juvenile age and there is still time for cryptocurrency to gain some substance value in the world as a whole.
But one thing is surely clear, cryptocurrency is going to have bright future, be it 2019 or 2039, it is here to stay and will not disappear with just a click.