5 Reasons Why Cryptocurrency Will Flourish in 2019

2018 Will Not Be the End of the Cryptocurrency Boom and Here is What You Must Know

Cryptocurrency traders, developers, investors, and enthusiasts all went through a complex range of emotions in the year 2018. They year started on a really buoyant note as the crypto market ended 2017 on an unprecedented bullish note. December 2017 had seen bitcoin, Ethereum and some other cryptocurrencies rise to their highest values ever. Forecasts were optimistic and a lot of people who had previously been skeptical swarmed into the market, hoping to make a killing.

Then came 2018 and things went in a completely opposite direction to everyone’s expectations. The prices of cryptocurrencies, especially BTC, dipped unexpectedly. Although there were slight price increases at various times, it couldn’t manage to return to 2017’s all-time high. The price stayed stable for most of the year, hovering above $6,000. Then came the big dip in December with Bitcoin taking a plunge and going as low as just above $3,000. Many traders and investors have capitulated, pulling out of the market and giving up on cryptocurrencies.

Is the end of cryptocurrency here?

The major question now is, does this price plunge signify the end of cryptocurrencies? Will cryptos bounce back and continue to be the revolutionary innovation that it has been tipped to be?

Despite seeming indications to the contrary, we think cryptocurrencies are not going to end with 2018. Rather, they will come out stronger, and in 2019 there’ll be viable projects carried out on the various blockchain platforms. Why do we think this is so? The reasons are listed below:

1. Filter out pretenders

When a platform becomes a buzzword, just like blockchain has become in the past couple of years, a lot of people dabble into it just for short term gains. There’ve been countless stories of ICOs that just disappeared with investors’ token investments, simply capitalizing on the popularity of blockchain and the possibility of making a quick gain. However, with the current drop in price, unserious pretenders will scamper away, leaving the truly passionate cryptocurrency enthusiasts who are willing to build revolutionary products.

Often, the people who build useful products and make game changing applications are those who are in the business not just for financial gain, but to solve problems. People like this are those most likely to remain in the blockchain ecosystem as those only seeking to make a quick buck would have left. 2019 will therefore witness interesting projects and innovative developments because the bulk of developers and investors remaining on the scene would be the true blockchain enthusiasts, and not just pretenders.

2. Past Experimentation stage

While length of time is not a particularly cogent indicator of the success of a technology, it still goes a long way in contributing to the possibility of how viable a technology will be. Blockchain and cryptocurrencies, starting with Bitcoins, showed up in 2008, and this means it has been around for more than 10 years. There have been various experiments, successes, failures, false starts, and so on.

Having stuck around for this long has allowed for the development of a robust body of knowledge as well as expansion into different areas where blockchain wasn’t yet being used. Therefore, in 2019, developers are less likely to make mistakes and have a higher chance of developing useful products in the blockchain system because they have years of tinkering and experimentation to fall back on.

3. Increased Awareness

 Initially, there was quite some skepticism serving as hindrances to the widespread adoption of blockchain technologies. People weren’t really sure about this new technology and were careful about adopting it. However, with the various successes that have been recorded, more people are beginning to think of ways in which they can incorporate blockchain to solve problems.

With this increased awareness, there will be more innovative projects and useful products developed on various blockchain platforms.

4. All Revolutionary Technologies have their doubtful moments

 A lot of questions have been asked about the ability of cryptocurrencies to live up to their billing as the next big thing in the world of technology. Those questions have resurfaced with current price dips, with skeptics asserting their doubts concerning the viability of cryptocurrencies considering their volatility. However, this is common with technologies that have been known to make remarkable global impact.

The internet, for example, experienced what was known as the dot-com bubble burst towards the end of the last millennium. It seemed that was the end of the internet age. But despite this, the internet is going strong and has become a useful, perhaps indispensable tool for work and relaxation.

It’s the same with cryptocurrencies. We might be currently at the point of cryptocurrency’s own dot com bubble moment. The current volatility might just be a curve in a very long road that will end up in cryptocurrency and blockchain being the world’s go to technology for various industries.

Serious Investors will be attracted

If you’ve ever studied investing principles, you must have learnt that the best time to enter a market is when it’s bearish. Warren Buffet puts it well when he says, “You should be buying when everyone is selling and selling when everyone is buying” For any investor who knows what they’re doing, this period of low prices is actually the best time to get into the cryptocurrency game.

Like it or hate it, cryptocurrency and the blockchain technology are here to stay. There have been challenges and slight disappointments along the way, but taking a holistic view, the revolutionary potentials of cryptos far outweigh the slight glitches being currently experienced.

We’re excited about what 2019 holds for cryptocurrencies and blockchain, we can’t wait to see the decentralized apps and the new traditional industry disruptions that will take place.