2019 – Another Significant Year for Cryptocurrencies
At the end of the year, it is traditionally worth summing up. If we return to the beginning of 2019, then of course, first of all, we note that cryptocurrency prices fluctuated, changed, and reached new lows and highs. Still, at the same time, many companies that have just started their journey, or were already recognized giants, have achieved everything new peaks.
Of course, like any market, the cryptocurrency industry is influenced by many factors. Still, it is worth noting that at the very beginning of the year, business magnates simply ceased to be interested in digital assets.
However, at the moment, four positive trends stand out frankly.
The most critical positive achievements of the past decade
Of course, 2019 is a year of trial and error, a year of experimentation, rapid development, and rapid implementation. This brought the digital currency market to a whole new stage. As the most striking examples, one can highlight the companion of such an infamous giant as New Balance with the Cardano blockchain; the introduction of cryptocurrency to the gaming business of Malta; statement of the Bank of France of intentions to start working with digital currency in 2020.
- Already this year, sites such as Bitmex, spot sites Binance, Huobi, and OKEx will offer futures and even options for digital assets with large capitalization. In a word, the competitiveness of the market has become many times higher, while not losing the quality of its products. However, it will become even more noticeable in the coming new decade.
- Further down the list are new trends in development and innovation. The attitude to the introduction of new technologies and the level of security has become more comprehensive, and this directly affects the quality of work and raises the level of opportunities to the extent that no one even thought to discuss just a couple of years ago.
- Last but not least: a fresh look and fundamentally new solutions to old problems. Here it is already worth mentioning modern methods of protection against hackers and hacks, which means that the credit of trust among users has become much more extensive.
The Libra release from Facebook was quite indicative. Then the interest in the cryptocurrency business grew significantly. It is also worth noting that it was this year that the national states showed an active interest in cryptocurrencies. For example, the Chinese government has radically changed its policy towards cryptocurrency (having gone from its complete ban to the announcement of the release of a new model of the national digital currency – the digital yuan)
In turn, the US government softened its position, and Fed Chairman Jay Powell even hinted at a digital dollar issue.
In the private sector, regulated platforms have created a market infrastructure to meet primary demand. The launch of Bakkt’s physically sound bitcoin futures in September was an essential step towards providing institutional investors with regulated funds for profit.