Things That Look Positive for Cryptocurrencies

While there have been market corrections in cryptocurrency market in 2018, everyone agrees that the best is yet to come. There were a lot of activities available in the market which have changed the tide for the higher. With proper analysis and the right dose of optimism, anyone who is invested in the crypto market could make millions from it. Cryptocurrency market is here to remain for the long term. Within this article, we offer you five positive factors that can spur further innovation and market value in cryptocurrencies.

1. Innovation in scaling

Bitcoin may be the first cryptocurrency on the market. It has the maximum number of users and the highest value. It dominates the entire value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it can handle only six to seven transactions per seconds. In comparison, credit card transactions average at few thousands per second. Apparently, there is scope for improvement in the scaling of transactions. By making use of peer to peer transaction networks on top of the blockchain technology, it is possible to raise the transaction volume per second.

2. Legitimate ICOs

While you can find cryptocoins with stable value in the market, newer coins are increasingly being created that are designed to serve a particular purpose. Coins like IOTA are intended to help the web Of Things market exchanging power currencies. Some coins address the problem of cybersecurity giving encrypted digital vaults for storing the amount of money.

New ICOs are discovering innovative solutions that disrupt the existing market and bring in a new value in the transactions. Also, they are gathering authority available in the market with their convenient to use exchanges and reliable backend operations. They are innovating both on the technology side regarding using specialized hardware for mining and financial market side by giving more freedom and options to investors in the exchange.

3. Tipping Token on regulation

In the current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits could be accrued to the community most importantly. We can expect that there could be reasonable conclusions as per the result of the studies.

Few governments already are taking the route of legalising and regulating crypto markets exactly like any other market. This will prevent ignorant retail investors from losing profits and protect them from harm. Abling regulations that boost cryptocurrency growth are anticipated to appear in 2018. This can potentially pave the way for widespread adoption in future

4. Increase in application

There is enormous enthusiasm for the application of blockchain technology in virtually every industry. Some startups are coming up with innovative solutions such as digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants who are ready to transact in cryptocurrencies which boost the number of users.

The trustworthiness of crypto assets as a transaction medium will undoubtedly be reinforced as more people rely upon this system. Although some startups may not survive, they’ll positively contribute to the overall health of the market creating competition and innovation.

5. Investment from financial institutions

Many international banks are watching the cryptocurrency scene. This may lead to the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the next phase of growth of the cryptomarkets. It has captured the fancy of several banks and financial institutions.