Its 2019 and crypto proponents continue to throw jabs at the industry. Crypto marches on. The year started off well and major currencies like bitcoin are reporting positives. In fact, if the recovery continues in the remaining days, February will be the first positive month since July 2018.
There is no guarantee of a stable year for individual cryptocurrencies. But, while prices are bound to be volatile in 2019 and beyond, the instrumental power of the technology within remains undeniable.
It’s unfortunate that the industry is crowded by opportunists taking advantage of the deregulated industry. But things are changing for the better and everything is getting into shape. In the end, critics and proponents will witness the undeniable success in the crypto space.
Crypto’s Lasting Value
A new study by Satis Group predicts an increased trading volume by 50% at the end of the year. This figure overtakes the trading volume of corporate debt in the United States.
Smart companies should realize that short term coins come and go. Entrepreneurs should start focusing on use case activities like commerce chain tracking, such areas drive towards the long term value of cryptocurrencies.
Business leaders should also take a closer look at use cases to find great ways of making value out of crypto. Winners aren’t found on the sidelines but actively battling it out in the quest to find the best use of these emerging technologies.
The Bubble Is Dead
Cryptocurrencies have come a long way. From being once branded as scams, Ponzi schemes, and bubbles waiting to burst. Last year was arguably the highlight of these speculations. We are not saying that the market didn’t experience difficulties, but the speculations thrive more when the market is declining. And the best part of it, the speculative hype have worked well for the industry.
The bear run and has shed off audiences interested in making profits and leaving. It has left individuals interested in Blockchain and its real-world value. Therefore, these bumpy roads shouldn’t surprise anyone. The crypto space can be hazy and misleading to those who don’t understand the technology.
Until now, crypto continues to be the star use of Blockchain technology. But as time goes on, a killer use case will emerge and will put the industry into a frenzy. That’s why businesses need to be on the lookout for new use cases.
New Crypto Regulations
It’s normal for regulators to move slowly on disruptive tech. But with cryptocurrency, there is an exception. With these kinds of profits been enjoyed, Washington won’t stay in the closet forever.
Regulators hope to introduce new crypto regulations in the course of the year. If structured well, they could work out well for the industry and push out bad actors within.
The regulation process has already begun and lawmakers like Warren Davidson from Ohio and Darren Soto have already introduced The Token Taxonomy act. The law seeks to define digital tokens and clarify crypto’s exemption from security laws.
The most important thing to note is not to let the hype get into you. It would also be great if you didn’t focus on the trading but on the technology. For anyone running a business, look out for emerging use cases that show value. They are goldmines.