2018 saw both widespread uncertainties due to political factors like the U.S. midterm elections and Brexit, as well as significant technological advances in the financial sector. Whilst the political environment is still uncertain, which could affect both fiat and digital currencies to some degree, we are expecting to see many more innovations within the sector, which could lead to some exciting announcements. Experts are already predicting some of the things that will occur with cryptocurrency in 2019, and we have described these below.
1. Blockchain is Set to Go More Mainstream
In 2019, experts predict that blockchain will become more mainstream as it is adopted by large companies in a variety of sectors, including financial organizations, charities, and big businesses. We can expect to see blockchain technology continue to advance as the year progresses too, enabling it to become a more prominent factor in pretty much everyday life. Some experts believe that blockchain will make investing easier than ever once it becomes more mainstream, while others think more training is needed in order to see a massive improvement in the technology we already have. Even if the technology doesn’t advance a great deal this year, the fact that it is being adopted by mainstream businesses is a promising sign.
2. Crypto Coins Will Become Even More Secure
While cryptocurrency is already slated to be one of the most secure forms of trading, 2019 will see security increase even more. Security tokens are set to be one of 2019’s biggest trends, and it is believed that this will help digital currencies enter the mainstream more completely. Security tokens will also, it is believed, help to bridge the gap between financial institutions like banks and the digital blockchain, as they will provide institutions with a way to leverage their capital in crypto circles. With the online gaming giant, Nexon, also buying two crypto exchanges, it is believed that other online companies will begin to adopt cryptocurrency, especially once security tokens are in place.
3. More Regulations
Financial institutions and the government took a close look at blockchain in 2018 and assessed how best to regulate the market. It is expected that some of these regulations will be put into place in 2019. While this will pose challenges and may seem to some like it’s going against what the blockchain was created for in the first place, it will also provide opportunities for development and innovation. Innovators need to start seeing regulators as their partners as opposed to a challenge if this is going to work. By talking to them early, innovators can help to shape the regulations so that they make sense for all parties involved.
4. Solutions to Cyber Security Threats
The threat from cyber security attackers is real and doesn’t seem to be going away any time soon. And, unfortunately, cryptocurrency is no stranger to the threats. In 2019, we can expect to see more solutions to cyber threats become apparent as operators look at new solutions and ways to transfer digital assets safely. Blockchain will continue to be used as a way to safeguard assets and store them, but it’s likely more technologies will also be developed to aid with this. Increased scrutiny will also be placed on fintech companies as the mainstream public put pressure on them to tighten their walls and provide end-to-end encryption on client data.
5. Ripple Will Become the New Bitcoin
Finally, many experts also believe that in 2019, Ripple will emerge as the most popular cryptocurrency, overtaking Bitcoin along the way. Due to two-sided trading in the Bitcoin market, it is believed that the currency will not achieve the large growth we’ve seen in previous years. Instead, large investors will begin looking towards Ripple due to it currently being low risk, high reward currency. Experts are confident that Ripple will reach a base price of $20 before the end of the year and that it will have the fastest rising channel of all cryptocurrencies. Of course, you can keep on top of this using a cryptocurrency tracker. Bitcoin isn’t expected to completely flop out, however, with experts naming it as the second most popular cryptocurrency in 2019, followed by Ethereum and Stellar Lumens.
If there was one thing that the cryptocurrency crash of 2018 did really well, it was cleaning up the sector. Many of the scams were eliminated and a lot of people are now looking towards developing the technology and improving security. As crypto goes more mainstream in 2019, the future looks promising for many.