2017 was indeed a rewarding year for the cryptocurrency believers. For those who had invested in currencies such as Bitcoin, the ROI was crazy. Investors made super profits last year, causing a frenzy that spilled over to 2018. But how predictable is cryptocurrency industry?
Contrary to most opinions, the industry is highly predictable. Do you know that some experts had predicted the bullish explosion that we are seeing right now? That’s true. It was predicted that Bitcoin would nearly triple in value in early 2017. In his book, Blockchain Revolution, Alex Tapscott had this to say “Bitcoin will hit $2,000. Ethereum will not collapse, but will remain a dominant platform for new apps and new business models.”
So what are experts saying about 2018? Well, with the frenzy brought about by bitcoin; the industry has attracted attention from both altcoin expert and financial experts. Although the opinion is still divided across the board there is a lot of optimism about the market. So what’s the market projections and predictions year 2018?
1. Cryptocurrencies’ Value to Continue Growing
The Bitcoin frenzy will definitely develop shockwaves through the entire market. Even with few pessimists, the gains are tempting and the market has remained positive. This year will see more investors stepping into the market this year. The move will definitely increase the demand for major coins. With this, the law of demand and supply will instantly kick in. So expect nothing but growth in value in most of the major currencies including Ethereum, Bitcoin, Bittrex, Liqui, Poloniex and the rest.
2. Expansion of Blockchain technology in impact Cryptocurrency
The last few have seen an increased research into the Blockchain technology. Major industries including financial services, media, and telecommunication amongst others are likely to employ the technology on a large scale this year. Most of these developments will definitely impact on the demand of the cryptocurrency hence rise in value.
3. Emergence of New Platforms for Value Creation
As the market strives to better itself, more robust ideas will come up to disrupt the status quo. We are expecting to experience a vicious fight for industry control with new platform upsetting the already established one. Although bitcoin will remain a market leader, currencies such as Ethereum will have to transform to remain relevant. We expect Ethereum to grow in the number of game-changing Dapps. It will also move to proof of stake from the current proof of work. Aion, ICON, Cosmos and Polkadot are the new platforms to watch in 2018. Such competition will keep the industry vibrant to the advantage traders.
4. ICO Transformation
In 2017, Initial Coin Offerings (ICOs) were used to fund new currency ventures or utility tokens. But as the came to a close, the fatigue was already setting in. Since ICOs have proven a significant aspect of the market, we are likely to see the tokens transform from merely owning a stake in a company to something of more value. We are likely to see a roll out of model-3-coin, or TeslaToken, which will enable about million Tesla fans who cannot afford to buy Tesla easily put up $1,000. So using ICOs, Tesla could raise around $10 billion in 2018. You can imagine how this will transform the industry.
5. Automated Trading Robots (bots)
The success of Bitcoin last years had a lot to do with bitcoin bots. Since their introduction bots have become an essential tool for traders. In fact, earning passive profits was a game changer and it will definitely feature a lot in 2018. Apart from setting limits, we expect a lot more features that will enhance users’ experience. Major bots such as Cryptocurrency automatic trader bots (CAT bots) did well last year but we also expect more bots to hit the market.