Cryptocurrency: which side are you on?
HODL or SELL??
or you think is a bubble??
The future is damn confusing but we can't ignore the fact that, Cryptocurrencies have reached to a point where the internet was, in the beginning. Like CBOE (Chicago Board Options Exchange) and CME (Chicago Mercantile Exchange & Chicago Board of Trade) have launched their own cryptocurrency futures, Twitter partnering with Tron and several other cryptocurrency; somewhere or the other involved in some or the other way.
All in all, one can foresee that Cryptocurrencies have a certain future ahead and as soon as Regulatory authorities have started looking in it seriously, we are sure to see an exponential growth in the long term. Just like internet becomes the necessity of our day-to-day lives, similarly 5 or 10 years down the line; cryptocurrency will become but who knows because nobody can predict the future.
Apart from this, there are certain continuous shifts which drives them swiftly in the longer run:
- Tokens and Coins Stability
Although if one looks at coinmarketcap.com, you will find that there are more than 1600 currencies listed, out of which; almost all of them are volatile. Many setbacks have survived specially in 2018; like Government and regulatory authority intervention, Major exchange hacks etc are some of the events are responsible for gigantic corrections in declining of market cap from lifetime high of over $850bn to $250 bn; almost thrice down.
By seeing this, many financial experts have declared crytpocurrency dead but it isn't yet.
- Supremacy of Bitcoin is intact:
Many coins, tokens have come, gone and stayed with the latest technologies, platforms and with several other changes but still bitcoin dominance has never gone down infact it keeps on increasing at a drastic pace, a whopping 42.9% dominance; bitcoin is having while writing this and quite sure of the fact it could even reach upto 50% in the near future, if it keeps on going with this pace.
Amidst, if one compare Bitcoin with other cryptocurrency like Ethereum, Ripple etc. the stability and volatility is quite less which further enhances its market cap in the future.
- Crypto market going conventional:
You might have heard it: Goldman Sachs is gearing up to launch a trading platform to buy and sell Bitcoin for its institutional investors (Pretty Big), read detailed report here:
https://news.bitcoin.com/goldman-sachs-bitcoin-trading-operation/
Other big news: Yahoo! Japan confirms entrance into crypto space
https://news.bitcoin.com/yahoo-japan-confirms-entrance-into-crypto-space/
Not only this, the market is flooded with several cases which explains Bitcoin is here to stay for long!!
- Decentralized exchanges are getting in space:
Centralized exchanges vs Decentralized exchanges, a topic of discussion from quite long now but we are in such position, where-in one can easily predicts that Decentralized exchanges are here to stay for long.
Decentralized exchanges also known as "DEX", is a new technology that facilitate cryptocurrency into a distributed ledger. In centralized exchanges, many hacks which we've been through like the Mt. Gox hack, the Bitfinex hack, the Coincheck hack; which certainly provoke the need of Decentralized exchanges. As Decentralized exchanges are less clunky and buggy and more intuitive. As a result, mainstream interest and adoption will increase.
All in all, above mentioned are a few of the major trends which will play a significant role.
What do you think friends, do let know as per you, what could be the trends, will play a crucial role in the future?
Do let know in the comments below.
