Cryptocurrency brings new emotions to the community each year. Miners, investors and ordinary users strive to understand the new blockchain technology and the ways of its practical application. This is despite the instability and unpredictability of the market, gaps in legal regulation and the lack of judicial practice in resolving crypto-related disputes. Pessimists and optimists can tell a lot about the future of bitcoin and altcoins. But it is necessary to concentrate not on excessive criticism and not on fantasies, but on specific trends that have emerged in recent years.
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Cryptocurrency Market
The word “bubble” that anyone who is interested in a crypto faces means only a rapid rise in the price of an asset, followed by its fall. The bubble blows off when investors stop investing their money in a high-priced product and start selling their stocks/coins. It is not a scam, just features of the market. How about bitcoin? It really is a bubble. It increased in 2017 and burst in 2018. But the market is stabilizing, which makes crypto trading profitable again.
Cryptocurrency as a Means of Payment
Bitcoin and altcoins are increasingly being spent in retail establishments. The massive acceptance of the crypto allows to increase the income of both its owners and enterprises that accept it, because this way the coverage reaches a much wider range of consumers. It’s a general practice of using a crypto card for booking air tickets, hotels, buying web domains, computer hardware and consumer goods. As of December 2018, the number of travel agencies, web services, shops that accept Bitcoin has increased significantly, compared with 2017. For example, those who have a Microsoft account can pay for goods and services in Bitcoins via Bitpay. Unfortunately, one-time transaction so far can not exceed $100.
Cyber Security
In recent years, traders and crypto hodlers have repeatedly encountered security threats, such as phishing and hidden mining. Cryptocurrencies, in theory, are secure; However, it is obvious that the growth in the number of new platforms, projects and exchanges is directly proportional to the growth of hacker attacks on them.
Blockchain Technology
The blockchain technology is inseparably linked with cryptocurrency. In 2019, most likely, the developers will make every effort to create a new image of this technology, because it can give us much more than a decentralized network for crypto transactions. If we want the blockchain to be widely used, efforts need to be made to inform the community that this technology has many non-cryptocurrency applications.
Taxation and Legal Regulation
2019 will be the year of broader national and international legal regulation of cryptocurrency turnover. The main news of the past year was Malta, which showed that the crypto can have an absolutely clear and understandable regulatory framework. Countries such as Russia and India have also begun developing national cryptocurrency legislation; and we expect other countries to follow suit. This means that this year the cryptocurrency will become more legitimate and legal. The main trigger for positive regulation is the need to combat money laundering, fraud and the financing of terrorism. If cryptocurrencies receive the necessary legal protection from the state, more and more people will confidently use it in their daily lives.
This article was originally posted on Hoganinjury.com.
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