While there were market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There were a lot of activities on the market which have changed the tide for the better. With proper analysis and the proper dose of optimism, anyone who’s invested in the crypto market can make millions from it. Cryptocurrency market is here to stay for the long term. Within this article, we offer you five positive factors that may spur further innovation and market value in cryptocurrencies.

1. Innovation in scaling

Bitcoin is the first cryptocurrency available in the market. Bitcoin Cash Token has the maximum amount of users and the highest value. It dominates the complete value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it could handle only six to seven transactions per seconds. In comparison, credit card transactions average at few thousands per second. Apparently, there’s scope for improvement in the scaling of transactions. With the aid of peer to peer transaction networks along with the blockchain technology, it is possible to raise the transaction volume per second.

2. Legitimate ICOs

While there are cryptocoins with stable value on the market, newer coins are being created that can serve a specific purpose. Coins like IOTA are designed to help the web Of Things market exchanging power currencies. Some coins address the issue of cybersecurity by giving encrypted digital vaults for storing the amount of money.

New ICOs are coming up with innovative solutions that disrupt the prevailing market and bring in a fresh value in the transactions. Also, they are gathering authority on the market with their simple to operate exchanges and reliable backend operations. They’re innovating both on the technology side regarding usage of specialized hardware for mining and financial market side giving more freedom and options to investors in the exchange.

3. Clarity on regulation

In the current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits could be accrued to the community most importantly. We can expect that there could be reasonable conclusions as per the result of the studies.

Few governments already are taking the route of legalising and regulating crypto markets just like any other market. This can prevent ignorant retail investors from losing profits and protect them from harm. Abling regulations that boost cryptocurrency growth are anticipated to appear in 2018. This can potentially pave the way for widespread adoption in future

4. Increase in application

There’s enormous enthusiasm for the application of blockchain technology in just about any industry. Some startups are discovering innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this can increase the amount of merchants who are ready to transact in cryptocurrencies which boost the amount of users.

The reputation of crypto assets as a transaction medium will undoubtedly be reinforced as more people trust in this system. Although some startups may not survive, they will positively contribute to the entire health of the market creating competition and innovation.

5. Investment from financial institutions

Many international banks are watching the cryptocurrency scene. This can result in the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the next thing of growth of the cryptomarkets. It has captured the fancy of several banks and financial institutions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here