The take on Cryptocurrencies in 2019
Cryptocurrencies or virtual currencies are more alike the new generation Tulip mania. Everyone goes crazy about it instead of knowing the risk that they can even lose their money overnight. Its price fluctuates in every single minute. There are countless options if anyone decides to invest in the virtual asset. But before entering the space, one needs to know about the possibilities which it can bring in future. An investor’s money either can be double within a day or two; or it can be lost with no price rates at all.
The market of crypto has grown aggressively from where it started in 2009. It was kind of a joke to everyone few years ago, but now everyone thinks that it’s the wave of near future. Even Bill Gates also believes that Bitcoin is better than currency (Source - CNBC). There are significantly rising number of participations day by day in the crypto world around the globe.
At the beginning, only enthusiasts and risk takers participated in this market as there was no KYC or any other security assurance. They have recently started applying these security policies like KYC policies for securing the transaction process and growing the community of market participants. In 2017, the price of the oldest crypto Bitcoin reaches its topmost position and thereafter we can see the growing number of investors getting on board.
Even the Institutional Investors were hesitant previously for entering the market because it was not regulated when it started. But now, they are making a twist in the market by getting involved in it as it showed the increased liquidity, security as well as a quick turnaround in terms of regulation in various countries.
Regulation in rest of the countries will take place soon this year. Cryptocurrencies have established its milestone now. Surely it is the future of the current financial system. Stable coins may take the lead position in the field of cryptocurrencies, probably their price stability plays the vital role in achieving this position.
Cryptocurrency is not likely to go away anytime soon. In this unpredictable age, more than 70% of the market participants and financial investors believe that it will stay in the monetary space for sure. The participants and crypto holders expect that it will definitely grow and eventually replace the traditional currency system as it does not involve intermediation of any banks so that the traders have their own control in their assets.
Blockchain, the underlying technology behind many cryptocurrencies, has also started to show its impact far outside of the digital currency industry and is likely to see new applications in various fields like finance, education and healthcare this year. Because it is seamless and secured, everyone can blindly depend on it.
There is no doubt that people are going crazy about this virtual currency and everyone will see more participation from people around the world in the exchange platforms by the end of 2019. This virtual asset will continue to surprise the crypto enthusiasts in the near future.