Despite the bearish cryptocurrency market, cryptocurrency adoption is widening. Surely, this speaks volumes about how much merchants and retailers around the world are bullish on the future of the new asset class. For this and other strong indications, we will quickly highlight 8 major cryptocurrency predictions for 2019.
1. The First Crypto ETF
The issue of a Bitcoin Exchange-traded Fund approval in the United States has dominated cryptocurrency news for some time now. To put it into context, experts believe that the approval of a Bitcoin ETF will prepare an easy entry for institutional investors to launch into the cryptocurrency space. However, the U.S. SEC has continuously turned down such proposals, citing market manipulation and fraud. On the optimistic side is CNBC’s cryptocurrency analyst Brian Kelly, who believes that it will be approved in February 2019.
2. Increase in Number of Decentralized Exchange (DEX)
While the major exchanges have been predominantly centralized, decentralized exchanges (DEX) are beginning to spring up. The reason is that the latter tend to offer better security, liquidity, and user control than the former. As the cryptocurrency ecosystem improves, DEX will also increase.
3. Mainstream Decentralized Apps (dApps)
As you might recall, CryptoKitties was the first platform to give the glimpse that decentralized apps will gain mass adoption in no time. While it mirrors how difficult it is to scale blockchain, Ethereum project, Casper, will help to solve today’s blockchain setbacks. Consequently, it will lead to renewed interests in dApps in the near future.
4. More Issuers Will Launch Security Tokens
With the recent indications from the SEC that they would consider some tokens as security tokens, they could be the next gold rush. However, enhancing the cost efficiency of these digital assets will make them more accessible to traders and retailers, thus making them ubiquitous.
5. Banks Moving into the Cryptocurrency Industry
The Ripple Foundation has spearheaded the cause of bridging the gap between traditional banks and the blockchain industry. As a result, they have signed multiple contracts with many banks around the world to use Ripple products in order to enhance their operations.
6. Retailers Are Embracing Cryptocurrency
The global cryptocurrency community went agog when the news broke that Microsoft, International Exchange (ICE), and Starbucks would go into a strategic business partnership. Indeed, it was a massive pointer to the fact that retailers are turning to cryptocurrency market to expand their business. Expect more of it in 2019.
7. Privacy Coins Are Coming Back Again
The privacy coins are gradually coming back to the mainstream. These coins are always in demand because people will always value their privacy. Many privacy coins are emerging, but some more than others. XMR’s price alone has risen over $20 USD since mid-August.
8. The Market Will Rally
From all indications, the cryptocurrency market will grow in 2019. Looking at the big view, the bubble seems to have settled. Even as 2018 gradually winds down, the prices of most cryptocurrencies remain relatively stable. Obviously, Bitcoin (BTC) has passed its demand mark. In light of this and other underlying factors, the market is likely going to pick up in 2019.
Risk Disclosure
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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