As the finance world continues to change with a rise in applicable technology, perhaps the most likely advancement exists in the form of cryptocurrency. In a digitally enhanced society, the desire for digital currency is in demand. What the future of the cryptocurrency industry and market holds remains to be seen, but for 2019, the following trends will likely be influential.
Market Stability
Since the inception of cryptocurrency, the market has withstood significant volatility, advertisement bans on social media, and government interference. Future market stability is likely, however, largely in part due to the introduction of something called a stablecoin. This currency will be available at a set price that is not influenced by market volatility or the influence of Bitcoin. These stablecoins will be directly tied to actual currency, ultimately helping to stabilize a volatile market.
Bitcoin Popularity
There are many different kinds of cryptocurrency that have released, but without a doubt, the most popular and widely-known variant, even outside of financial circles, is Bitcoin. The price of other cryptocurrencies has historically been heavily affected by Bitcoin’s performance, so it is not difficult to see how this cryptocurrency is highly regarded and infamous for its influential nature. Despite being volatile, Bitcoin is actually among the most stable cryptocurrencies out there; the reason for this is that it is actually less volatile than two of the other leading cryptocurrencies: Ripple and Ethereum. Additionally, Bitcoin was originally believed to be difficult to scale, but the issues making scalability unlikely are now being addressed, allowing Bitcoin more opportunities to grow.
Resource Availability
The general public still lacks sufficient information on cryptocurrency, including what it is and how it is traded. Moving forward, it is projected that additional resources will be produced and made available for individuals to learn more about cryptocurrency. From online tutorials and seminars to increased press and publications, materials about cryptocurrency will grow in availability. Additional, more social media profiles, communication channels, and trading platforms are set to emerge, making the task of getting involved with cryptocurrency more accessible.
Cryptocurrency continues to become more popular and widely discussed in financial circles. With some online vendors already accepting payments with cryptocurrency, the potential for cryptocurrency to become more widespread is only increasing. This year could hold significant developments in the stability and popularity of notable cryptocurrencies like Bitcoin.