Leap in the Blockchain Development: What Will be in Demand on the Decentralized Market in 2019?11/18/2018
2017 had the most robust crypto market ever seen. In comparison, 2018 has had quite an unimpressive run within the crypto space with almost all coins careening down by at least 80% from their all-time highs. We closed last year with both November and December seeing the highest in crypto market growth rate; Bitcoin alone made a staggering $600 billion in Market Capitalization. Consequently, its price shot up to $20,000. Since similar trends were also seen with altcoins, the market players weren’t prepared for the plunge this year. While bears might interpret this as the end of cryptocurrency as we know it, nothing could be further from the truth.
Analyzing 2017-2018: Latest Crypto Trends
Although 2018 did not see the extrapolated positive growth expected, and it can be expected that there will be no dramatic change until the end of the year, there have been some of the most important developments in the crypto and Blockchain industry. We attained considerable market stability, which could easily indicate that the market is maturing. In the early days of Bitcoin, there was a great deal of confusion as the technology was not well-developed. All we had was a White Paper and a novel technology, and 10 years later, we are yet to figure out who developed it.
It took some time for people to understand this uncharted territory until in 2017, Bitcoin exploded. In retrospect, it was quite obvious that a peak had to be reached, then a fall before plateauing at a much lower but comfortable price as we figure out “what is next?”.
Governments could not ignore the rising crypto craze and were also did not know what to make of this new market – are cryptos assets or securities? The question still lingers. Even the G20 came up with recommendations for regulations during their 2018 summit in Buenos Aires, Argentina. Some countries went for total blanket bans, others partial (opting to ban Initial Coin Offerings only) while others took to the sidelines expressing lukewarm or indifferent stands.
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