The ongoing bear trend in the crypto market has led
The ongoing bear trend in the crypto market has led to a downward spiral in the prices of cryptocurrencies. In such a scenario, it is only natural to wonder if Bitcoin will be a good investment in 2019.
While there are many cryptocurrencies that can surpass Bitcoin, yet one mustn’t forget that the world’s pioneering digital currency, Bitcoin, still has the largest share of market capitalization.
The mass adoption of Blockchain technology will lead to an increase in institutional investments in cryptocurrencies, including Bitcoin. Subsequently, the prices of digital currencies will witness an upward trend. Hence, cryptocurrencies will not be a dead investment.
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Rise and Fall in the Prices of Bitcoin
The year 2017 witnessed the price of Bitcoin surging to the level of USD 20,000 in December. Such a price hike aroused the interest of the common populace. Many experts predicted that the rise in the prices of Bitcoin would continue in 2018.
However, the rate of Bitcoin dropped sharply at the beginning of 2018. The value of Bitcoin fell below the price range of USD 7,000. As we are currently witnessing, the end of 2018 is even worse for Bitcoin. At the time of writing, it was trading at the price of USD $3,769.80!
The bearish trend has alarmed potential Bitcoin investors, with many wondering if altcoins are the more profitable choice.
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Future of Cryptocurrencies
Even though cryptocurrencies are suffering through a bear market presently, however, 2019 is slated to be the year of adoption of Blockchain tech.
Despite being uneasy about cryptocurrencies, governments across the world are moving in the direction of Blockchain tech. For example, the President of China, Xi Jinping, has announced that Blockchain technology is 21st century’s breakthrough. Other Asian countries are following suit. South Korea is using the technology to keep a track of packages.
Hence, we can foresee digital assets soaring in value with the increased adoption of this revolutionary technology.
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Blockchain, Cryptocurrency, and Bitcoin in 2019
Due to the increased deployment Blockchain tech will bid adieu to the year 2018 on a strong note.
The keen interest in the Blockchain space in 2019 will be highlighted by various developments. For example, regulated security tokens are set to become commonplace in the United States. The success of tokens will lead to more tokens coming to fiat to crypto exchanges.
The corporate sector will also observe the deployment of Blockchain to streamline processes. It will not only facilitate the growth of industries but will also lead to a surge in the use of tokens.
You may wonder if Bitcoin guarantees free money. While the answer to that is no, however, increased demand of the cryptocurrency definitely makes it a viable investment option in 2019.
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