As the year 2018 came to an end, cryptocurrencies are believed to outperform as the best asset next year. And thus, the investors are building more optimism and hoping the lot next year 2019.
The value of Bitcoin (BTC) has reduced to 75% of the all-time high. Likewise, “altcoins” is even worse. In terms of market capitalization, Bitcoin is expected to reclaim nearly two-thirds of the crypto market capital. And because of the growing risks aversion amongst crypto investors, altcoins will probably lose their luster. In other words, regulatory bodies will relax their regulations towards crypto sectors.
Technology enthusiasts, as well as lawmakers, have recognized the growth and upswing of DLT (distributed ledger technology) and virtual currencies. Bitcoin has become a decentralized payment system more than an asset hence it cannot be ruled out. Thus, it has become similar to commodities like gold, silver which can store its value.
Ripple (XRP) is the second highest cryptocurrency in terms of its trading volume. In the year 2018, the growth of centralized cryptocurrency was significant. But the Ripple has always been considered as security due to lack of decentralization. However, Distributed Ledger Technology is the backbone of all blockchain based centralized or decentralized tokens as recognized by internet giants and government as well. The implementation of DLT without the aid of cryptocurrencies can prove to be adverse for crypto markets in 2019.
There are more than 2067 cryptocurrencies in the bear market, but only the top 15 are holding more than 85% of the market capitalization of digital assets. This signifies that the investors are more inclined towards major coins. The increase of ICOs (initial coin offerings) of new cryptocurrencies played a significant role in the rise of total market capitalization. Other than Bitcoin, Ethereum and Ripple, there are several other cryptocurrencies like Tron, Monero, Stellar Lumens, Cardano, Litecoin and Steem that are evolving and developing with time.
These developments indicate that there will be an increase in DLT & blockchain adoption in the upcoming year 2019. The investors can expect market growth in 2019 and could also see the rise of some oversold cryptocurrencies.