While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There have been lots of activities available in the market which have changed the tide for the better. With proper analysis and the best dose of optimism, anyone who is dedicated to the crypto market can make millions out of it. Cryptocurrency market will be here to remain for the long term. Here in this information, we offer you five positive factors that may spur further innovation and market value in cryptocurrencies crypto market cap.
1. Innovation in scaling
Bitcoin is the very first cryptocurrency in the market. It’s the utmost quantity of users and the greatest value. It dominates the entire value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is so it are designed for only six to seven transactions per seconds. In comparison, credit card transactions average at few thousands per second. Apparently, there’s scope for improvement in the scaling of transactions. With the aid of peer to peer transaction networks on the top of blockchain technology, it is possible to increase the transaction volume per second.
2. Legitimate ICOs
While there are cryptocoins with stable value in the market, newer coins are being created that are designed to serve a certain purpose. Coins like IOTA are intended to help the Internet Of Things market exchanging power currencies. Some coins address the problem of cybersecurity by giving encrypted digital vaults for storing the money.
New ICOs are coming up with innovative solutions that disrupt the existing market and make a brand new value in the transactions. They are also gathering authority on the market with their user friendly exchanges and reliable backend operations. They’re innovating both on the technology side regarding usage of specialized hardware for mining and financial market side giving more freedom and options to investors in the exchange.
3. Clarity on regulation
In today’s scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits may be accrued to town at large. We are able to expect that there might be reasonable conclusions according to the consequence of the studies.
Few governments are actually taking the route of legalising and regulating crypto markets exactly like any market. This can prevent ignorant retail investors from losing money and protect them from harm. Abling regulations that boost cryptocurrency growth are expected to look in 2018. This will potentially pave the way for widespread adoption in future
4. Escalation in application
There’s enormous enthusiasm for the application form of blockchain technology in practically every industry. Some startups are discovering innovative solutions such as for instance digital wallets, debit cards for cryptocurrencies, etc. this may increase the number of merchants who’re willing to transact in cryptocurrencies which in turn boost the amount of users.
The reputation of crypto assets as a transaction medium will be reinforced as more people rely upon this system. Even though some startups might not survive, they’ll positively subscribe to the entire health of industry creating competition and innovation.
5. Investment from financial institutions
Many international banks are watching the cryptocurrency scene. This will lead to the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the following phase of growth of the cryptomarkets. It’s captured the fancy of numerous banks and financial institutions.