It has been a decade since the first cryptocurrency came into existence, and it looks like this industry is here to stay. Major institutions have been getting involved in the industry and analysts have predicted some crypto trends to watch in 2018. Cryptocurrencies have been a part of the mainstream discussions and people have been predicting the foreseeable future of the industry for quite some time now. Here are some of the bitcoin and cryptocurrency trends for 2018:
An Increased Market Stability
It has been a decade since Bitcoin was developed and ever since, there have been many coins that have come into existence. There are more and more altcoins that have survived the toll that the market has taken on them. There have been exchange hacks, ban on cryptocurrency trades by governments, involvement of the SEC, and ban on their advertisements by Google and other online social media. There have been many governments and financial institutions who have tried to regulate the trades and prices of the cryptocurrencies. However, analysts have predicted that there will be an even more increased market stability in the bitcoins and altcoins since the worst is behind them for now.
Apart from the bitcoin, they have compiled a list of the altcoins that will serve as abest long-term cryptocurrency investment in 2018. There are coins now, the price of which do not change as quickly and drastically as that of the bitcoin. The USDT is one of them, and the price is always almost equal to that of the US Dollar. Tether coins will undoubtedly increase the stability in the crypto market and ensure that there are high rises in the prices of the other cryptocurrencies as well. Bullets like these in a list of cryptocurrency trends to guide your investment strategy make it easier to make a choice.
An Increased Dominance of the Bitcoin
One of the major cryptocurrency trends to watch out for is the predicted increase in the dominance of the Bitcoin. It is the king of all cryptocurrencies and the price of all the altcoins is dependent on the price of the Bitcoin. However, there are some analysts who have been predicting that Bitcoin’s dominance is slowly fading away. But this is the valley and the Bitcoin has a mountain to conquer. It is the most stable out of the many altcoins. It is less volatile than the next two contenders, Ethereum and Ripple.
The only issue that it has is that of scalability, which has resulted in some transactions to take days to complete. However, these issues have been addressed and the result has been a faster and more stable Bitcoin. The biggest advantage that Bitcoin has over the altcoins is that its price affects them all. This trend has invited more and more investors to see the Bitcoin as a safer investment and there are people lining up to buy the bitcoin as it is being mined.
Increase in Decentralized Exchanges
One of the most awaited cryptocurrency trends to expect in 2018 is the increase in the number of the decentralized exchanges. For years, centralized exchanges have been rendering the point moot for the decentralized cryptocurrencies. While some may believe that the public is not ready to accept the decentralized exchanges just yet, there are many advantages that will be served by bringing them in.
Cryptocurrencies have become a more mainstream mode of payment and trading asset in the short life that they have had, and the introduction of decentralized exchanges would only give them a significant boost. Huobi has unveiled its plans to put in $100 million just to bring in a decentralized exchange. Binance, the Chinese exchange that has enjoyed quite a success in the last year, also announced that they are developing Binance Chain, which will be their version of a decentralized exchange.
Digital ticks is another decentralized exchange which has been promising. They have all the latest tools and one of the best security protocols.
Increased Usage of Cryptocurrencies
Perhaps the easiest assumption to be made, this one will hit right on the target. Children have the name of many cryptocurrencies on their lips and this is only partly the evidence that the future of the cryptocurrencies is bright. There are reports about big firms like the Goldman Sachs, which say that they are planning to use their own money and help their clients trade in cryptocurrencies. When the big boys will start buying the cryptocurrencies, the prices would be on a constant rise as the demand would keep increasing in an industry where the supply is limited.
Cryptocurrency has already made its lasting impact on the world and has proved that it is here to stay. It has tireless contributors working towards ridding it of any and every flaw that may arise in the system. Thus, although it had seemed unstable or unsafe initially, its is determined to reach widespread acceptability due to its immense advancements. Certain trends observed this year are surely indicating a larger adoption of the system, as well as increased investments in it.