The end of the year is the time of both summaries and forecasts for the following months. Today we will deal with this second issue.
So what will happen to us in the coming year? The last 12 months have passed under the sign of bear drops with short breaks on the hope that “now it will be different” and bitcoin will not fall by more than 80% from its last ATH and it will continue to grow. As we know today – as for the anger of all John McAfee of this world – the main cryptocurrency continued to decline. Has she already found her bottom on the chart, or on the contrary – it will fall below USD 3,000? We are not able to answer this question today. The puzzle will be resolved in 2019.
Bitcoin and the matter of the nature of McAfee
Everyone probably remembers that John McAfee, the creator of the business power of the antivirus market, said in 2017 that if three years bitcoin will not cost $ 1 million to eat in front of viewers … its own genre. Although until the December 31, 2020, the remaining eccentric millionaire is certainly trembling with horror every time he looks at the BTC / USD chart.
But how will the price of bitcoin be shaped in 2019? In opinion of well-known experts, even their most loyal fans from Twitter probably do not believe them anymore. Charles Lee or Mike Novogratz for a good part of the year, they hung a great reflection and new ATH, then to soften a little and recognize that it may not be as bullish as they thought. Today, they think that the rate will rebound in 2019. Well, in the end they will hit …
However, if the pattern of the previous bubbles is repeated, we may have to wait a few months of calm in the form of a side trend, which will introduce us into a new bull market. This does not mean, however, that the price will not fall yet. The current reflection can only be the convulsions of a dead cat, not the beginning of a new bubble. So invest with care!
This year was also weak for the ICO market. Unfortunately, it turned out that the new way to collect funds for the development of companies is perhaps wonderful and comfortable, but also tempting for cheaters. That’s why a lot of ICO turned out to be scams. Is this the end of ICO? No! The market will probably revive bringing a wave of green in the charts of existing tokens (why?) Even “old” and forgotten cryptocurrencies had their 5 minutes during the last bubble, so why would it be different here?) And new interesting projects. It also, however, requires time, forgiveness and forgetting about the discrediting of many projects in the minds of investors. The year 2019 may be such a period when the ICO market will be quiet – away from the cameras and media interest – existed and waited for a new, possible bubble.
A new king?
Yes, the question comes back from time to time? Will bitcoin be dethroned, and its place at the top of CoinMarketCap will occupy another cryptocurrency or token? Pretenders to the throne are coming. Ethereum, Ripple, and maybe something else, today unknown to the public. This is what Cezary Głuch (Trader21) said about our issue:
“Every time the new technology was introduced, the leader never maintained his position.In the year 2000, we had an AltaVista search engine in the internet bubble, and it’s worth remembering about the fate of Nokia …
Stablecoin and national digital currencies
Stablecoins and national e-coins remain quite a new phenomenon on the digital currency market. Venezuelan petro aroused rather negative emotions than collective admiration. It is hardly surprising … Russia still can not decide if he wants to broadcast KryptoRubla. Maybe that’s why her experts now have to experiment with a similar invention while doing a good deed for their Iranian friends.
What can the community centered around bitcoin think about it? Positive? Rulers learn about the cryptocurrency. Minus? They want to use them to escape economic sanctions, which is unlikely to improve the image of digital currencies on the international scene.
Another category is stablecoiny. It may turn out that they are the most clever tricks for blockchain technology, so that its creators will enter the mainstream. It’s enough to mention that Facebook works on something like that. In Poland, Fiat Based Token is being developed, in Japan its tokens are created by Mitsubishi UFJ Financial Group and Mizuho Financial Group. There are many, many more such projects.
Exactly! So what will be the year 2019? This question is difficult to answer unequivocally. It may be the equivalent of, for example, 2015, so it will generally be … boring! At least apparently, because it can be a period in which the foundations of cryptocurrency and blockchain will strengthen. The chart may be less. On the other hand, it may be a fantastic moment for investments …