Since the first cryptocurrency appeared in January 2009, this new industry has taken a very interesting path. From very little value at a price that literally didn’t interest anyone to nearly $20,000, Bitcoin has evolved and influenced many other areas such as finance, trading, or technology industries. Bitcoin also initiated the creation of numerous other cryptocurrencies called altcoins.
Today, we can talk about the various advantages, features, disadvantages and many other things about BTC and other digital assets. However, what is most interesting to anyone involved in the cryptocurrency market and whole game, is where the cryptocurrency industry is headed in 2019? It is very important to make a good strategy when trading cryptocurrencies and to anticipate further developments in the industry. Therefore, today we have decided to answer the above question.
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Institutional Investors Affect the Entire Game
As we said, BTC is the first cryptocurrency which has had a truly amazing journey in the past decade. From almost insignificant value to almost a whopping $20,000 at the end of 2017, Bitcoin has undoubtedly influenced the growth of the market, the increase in the number of transactions, and, therefore the attraction of more users and individual investors. However, after the all-time high value, BTC value dropped significantly, as low as $3,000 at one point. Although the current value is pretty good (about $7800 at the time of this writing), it can be said this is much below the ATH value.
The decline in value caused one phenomenon, which caused a decrease in the number of individual investors. It is the appearance of institutional investors that caused fewer transactions and individual investors to leave the market. Did this affect BTC and other cryptocurrencies? It certainly affected and is still affecting because this process isn’t over and new institutional players are constantly entering. However, has the industry lost value? Well, we have to admit that it’s not case, because institutional investors are strong enough to keep a cryptocurrency industry great. First of all, we are thinking of projects that have begun to develop in 2019 and that will undoubtedly continue to impact this large industry. One of them is Nasdaq, and the emergence of similar projects will undoubtedly increase the value of the market and the entire industry.
Stable Coins Are a Very Important Part of The Industry
Wondering what stable coins are? Well, these are digital coins that are linked to the price of FIAT currencies such as the dollar. A typical example of stable coin is Tether whose value has been equal to $1 for a long time. The role of stable coins is first and foremost to provide security in the event of decreasing collateral prices of leading digital currencies such as Bitcoin, Ethereum, Litecoin, Dash, etc.
However, how can stable coins become dominant when Bitcoin and other altcoins are more valuable and more people are interested in trading these currencies? Analysts have made every effort to provide answers to this question, and there are two main reasons. First of all, apart from Tether, there are other stable coins (e.g. Facebook’s Libra) that strengthen this part of the market but also the market cap of stable coins. The second reason is the stability of these tokens. Other cryptocurrencies that are decentralized have one thing in common, which is instability. On the other hand, stable coins are stable, as their name implies. Stability is exactly what big investors are looking for, so it is very possible for stable coins to dominate the market in the coming period.
Bitcoin and Cryptocurrency ETF (Exchange-Traded Fund) Approval
Approving Bitcoin and cryptocurrency ETFs would be a very significant thing in 2019. Unfortunately, this hasn’t happened yet, primarily because of the SEC (Securities and Exchange Commission). This organization hasn’t yet approved any of the Bitcoin ETF applications, and in the previous period, several of them were either rejected or delayed. For example, this situation has hit the VanEck fund, which is one of the most popular funds.
According to many experts, this approval would mean a lot to the industry, but above all to investors. If an ETF for Bitcoin and other cryptocurrencies were approved in the United States and Great Britain (greatest markets), it would mean safer trading compared to current system the industry has to offer, but also direct selling and buying. In general, the Bitcoin ETF would bring many benefits to the entire industry.
Things About the Cryptocurrency Industry Known So Far
What is of particular interest to all cryptocurrency traders are the latest price forecasts for BTC, ETH, LTC, BCH, DASH, XRP, and other popular cryptocurrencies. Unfortunately, no one can tell you with certainty, but there are some platforms that can help you trade, and provide you with advanced tools and statistics so you can more easily judge whether or not you’ll be able to make a profit.
However, what is certain is that the benefits brought to us by the crypto revolution are still continuing to apply. For example, revolutionary and advanced blockchain technology is entering an increasing number of other industries. In addition, Bitcoin as the original cryptocurrency designed to bring about a revolution in finance has somewhat succeeded doing so. Unfortunately, we still don’t have sufficient acceptance of this digital coin or other altcoins as an official means of payment, but the number of places where you can pay using cryptocurrencies should grow in the coming years, which is encouraging for all cryptocurrency traders and those who own these digital assets.