Cryptocurrency Trends to look out for in 2018
What a year it has been for the Cryptocurrency. Rise in people investing in the same, it is now being globally accepted by masses. Further predictions about the same go on as follows.
2017 has been a year of forks wherein Bitcoin had been splitted into several types including Bitcoin cash, Bitcoin gold, Bitcoin silver, Super Bitcoin, Bitcoin platinum, Bitcoin Uranium and Bitcoin diamond. Bitcoin fork is basically an idea to split and decentralize the bitcoin network so as to allow the people to mine the same comparatively easily. Hence the creation of such forks is expected to rise in the upcoming year of 2018.
Further Initial Coin Offering (ICO) is an unregulated means of raising funds for a new cryptocurrency venture and the government in the coming year is expected to be far more concerned about regulating ICOs in the coming year than regulating cryptocurrency.
Jamie Dimon TheCEO and President of JPMorgan Chase, who had been against Bitcoin all the year round, now jumped into the same as the price skyrocketed. Going by the trend, 2018 too is expected to see a major rise in the number of players entering and investing in the same. MNCs also would no longer stay out of the game.
Seeing the hype in the usage of cryptocurrency, the US has already started to make moves so as to crackdown the cryptocurrency game.The tax regulations are expected to be amended so as to enable the government to earn revenue through the major players who have made considerable investments in the same.Also, due to the increase in government surveillance the Bitcoin game is expected to raise the privacy levels. Some major players are already on the way to adopt few major privacy protocols.
Further, there also exist both financial and technical fears surrounding the cryptocurrency dealings. Financial fear involves the fear of it being a bubble. Every single time Bitcoin pulls back in price, someone says it is a bubble. Whereas technical fear includes the fear of coins being stolen, hacked, lost, or just plain frauds. Also, the hackers today demanding the ransom in cryptocurrency further raises the doubts about the same.
Additionally, in 2018, people are expected to lower their savings in the traditional banks and rather begin a move towards investing their bucks more in cryptocurrency but due to the backlogs of id verification, 2018 is also expected to see a rise in the number of decentralized transactions being preferred over and above the centralized ones.
Furthermore, the need for high level of electricity for powerful computerized transactions so as to solve puzzles to generate Bitcoins is expected to take the world to be more inclined towards green technology.
What exactly will 2018 unfold for the cryptocurrency prices nobody knows but going by the trend of the previous years one may surely conclude that the virtual currency is ready to take the world by the storm.
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