This year has been massive for cryptocurrency. Huge investment at the end of 2017 led to one of the steepest rises and sharpest falls ever in the market. This also stimulated more worldwide media interest and brought about real rumours of government regulation, laughable talk of a global ban, and the false dawn of a complete market collapse.
Now that 2019 is nearly upon us, we’ve gathered together what the experts predict for cryptocurrency in the next 12 months.
It is believed that 2019 will see the investment of institutional capital in cryptocurrency. What Forbes has called “The Crypto Spring” could mean the beginning of regulation but also the safeguarding of cryptocurrency assets, and investment from the biggest names in the stock market.
While the extreme spikes and troughs from early this year aren’t anticipated to manifest themselves again next year, institutional capital is expected to boost the market in 2019.
The market will rally
Regardless of how early the institutional money starts to pour in, next year will also see the market become a more stable entity than in early 2018. It was widely speculated this year that the ‘bubble had burst’ on cryptocurrency. However, in reality, it has simply settled.
When Bitcoin fell from its value of around $25,000 in early January to $6,000 by August, this wasn’t so much a crash-and-burn fall as the beginning of a more stable market. 2019 will see stability become the new normal, as the market rallies for the next 12 months.
Retail will change
Eyebrows were raised and excitement was stoked when news landed that Microsoft and Starbucks were in partnership over a digital platform that would allow customers to use Bitcoin and other cryptocurrencies at Starbucks.
Just like with the expectation about institutional capital, now that big businesses have had a chance to look at what cryptocurrency can do for them, you’ll see others finding ways to get involved. For everyone, this is the start of new ways to pay for goods and services in 2019.
The rise of Ripple
Okay, you’ve already been hearing this all year, but that’s because so many investors have persistently backed Ripple to be huge. With the vast sums of smart money set to come in from institutional capital and progressive businesses, both Ripple and its XRP token are set to become game-changers in cryptocurrency transactions.
Already ahead of the curve with secure and incredibly expeditious financial exchanges, they are on course to meet the cryptocurrency demands of the world’s most prominent financial institutions in 2019.
Many more major players
Most businesses recognise that Bitcoin enjoyed its most prosperous months in late 2017 and early this year. With the market stability that followed its fall from grace, this has left many other cryptocurrencies well-placed to challenge. Ethereum and Stellar Lumens continue to be successful, but smart businesses might want to turn their attention to Litecoin instead.
Unlike Ripple, and Ripple XRP, it’s spent 2018 being much less heralded as the next big thing, but has steadily grown in popularity and functionality nonetheless. Keep one eye on Litecoin news at BTCNN as we move into 2019. This could be the cryptocurrency you’ll most enjoy doing business with next year.