2018 has generally been a not-so-great year for Cryptocurrencies in general. If there were anything like a great depression recorded for Cryptocurrency investors, then 2018 would be the year referred to. Towards the ending of 2017, many analysts believed that 2018 would be the greatest year of Crypto coins as there were virtually more than a thousand Crypto projects launching their ICOs at the beginning of the year. However, the bust of most cryptocurrencies has made many people to pause and ask; Will Cryptocurrencies survive?
I know most readers who came here want to know the real truth and not some stuff said by an ‘analyst’. You want to be given the straightforward stuff and perhaps the downright dirty info on the Crypto market so as to safeguard your investments. My answer to you is that the Crypto markets will survive and boom again. Here are some factors to prove that to you.
Why will the Industry survive?
The Stability Of Some Coins
The fall of Bitcoin began to occur like a surprise wildfire and within a few months, its value had dropped from about $13000 to $4000. At the rate that Bitcoin dropped, many people feared that it would not rise again since other coins like Ethereum and Dash faced the same fall. We should all be concerned about our coin investments if these cryptocurrencies are still falling, however, there is a balance now. A form of stability has risen within the major coins and with the unveiling of new Roadmaps, it is easy to note the rise in their prices.
Endorsement By Big Corporations
One of the major yardsticks to know if something is viable is the endorsement behind it. In other words, who endorses Cryptocurrencies and how strong are the collaborations? At the present, there are more coins than ever and there are daily news of better endorsements. For example when the FUN coin came out, it was immediately endorsed by a large Casino in Las Vegas and used as a source of payment. Also in recent times, the governments of nations such as Japan, France, Australia and many others are taking more steps to encourage the crypto industry. Many billionaire investors who own large Hedge funds who have been very vocal against cryptocurrencies in the past, have backed down a little and are even incorporating coin payments in their companies.
Radical Creation Of Jobs And Benefit To Other Industries
Ever since the Blockchain tech was invented by Satoshi in order to provide smart contracts, it has provided many people with jobs and also provided benefits to other industries through the gift of the Blockchain Technology. At the moment, there are more than 1 million people worldwide who are into Crypto mining and have set up large mining pools so as to facilitate accounting of the coins.
A huge industry like this does not just fall down like a pack of cards just because it had a terrible year.
Till date, people still continue to invest in hardware gear such as computers, fan, ASIC Graphics card and others in order to join existing set of miners to create new block. When you think of this, you get to realize that this year has just been a terrible stage in the history of Cryptocurrencies.
Defects Within The Industry
I would not however admit that the future of cryptocurrencies is all rosy. Many coins are looking towards the end zone, as the teams behind them do not have the capacity to sustain them, or are thieves. This is the reason why I always hammer on the need to make extensive research before investing in any coin. There are many crypto projects springing up with the aim of swindling investors of their hard earned cash and worse still, these folks are paying some analysts to spin positive projections about their coin. The only way you can avoid a fall to these thieves is when you engage in proper research and invest carefully.
Despite the fact that the future of Cryptocurrencies is not totally solid proof, there are enough evidence to show that it would replace the traditional banking and currencies in the distant future. I want you to know that there will be another boom of Crypto coins and there will be busts as well. You should ensure that you plan for the boom again.