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Inevitable Moves & Prospects: The Primary Changes on Crypto Market in 2019 - Binaryx

Inevitable Moves & Prospects: The Primary Changes on Crypto Market in 2019

Crypto Market Moves & Changes in 2019

In 2019, most cryptocurrencies could not show impressive growth, despite a 2.5-fold increase in the Bitcoin exchange rate – from $ 3200 to $ 7000. However, the industry has made a big leap forward. Now, it has become part of the economy thanks to the projects of Facebook, Telegram, and central banks around the world.

At the moment, the total capitalization of digital money reaches $ 195 billion, although, at the beginning of 2019, this figure was at $ 125 billion, that is, an increase of about 56%. Trading volumes increased manifold: from $ 15 billion to $ 78 billion – by nearly 420%. Perhaps this value plays a much more critical role in understanding how events developed in the past year.

In 2019, against the backdrop of an unstable financial situation in the world, Bitcoin showed itself as an adult as possible. When everyone was watching the change in the Fed’s rate and the trade war between the US and China, digital money only strengthened its position, which gave rise to many direct comparisons with gold.

Crypto Projects That Attracted Attention The Most

One of the most anticipated events of 2019 did not happen. It’s about Pavel Durov’s blockchain project – Telegram Open Network. Shortly before the launch, which was supposed to take place before the end of October, the US Securities and Exchange Commission (SEC) intervened. She recognized the sale of tokens illegal and suspended the company until February. Now the launch is tentatively scheduled for April, and investors continue to wait.

Another currency that never appeared is digital yuan. Chinese authorities claim that they have been developing it for more than a year, and now it is at the testing stage. There were rumors that the launch should take place in early November, but the information was not confirmed. At the moment, not a single large state has introduced its national cryptocurrency. China may be the first, which is why the event attracts so much attention.

The fourth currency, which created an unreal excitement around itself, but was never released, is JPM Coin from JPMorgan Bank. She is somewhere in the test phase in Japan, but this did not stop her from gaining the nickname “XRP Killer.” Tokens have the same goals. 

The appearance of JPM Coin should dramatically transform the banking sector, make payments faster and cheaper. This is just another confirmation that the cryptocurrency sphere is no longer in the shadows. It has come into real life and has a serious impact on it.

The Changes & Performance of Bitcoin in 2019

Bitcoin turned out to be one of the few cryptocurrencies that showed positive dynamics at the end of 2019. The rate increased by 200%, and this positively affected the mood of most, but not all investors. Some bought in the summer during the rally of the leading digital coin – the moment when it reached an annual maximum of $ 14,000. They are certainly dissatisfied with the current situation, and now, like actual scammers, they are waiting for the asset rate to rise again to get some profits.