2017 was undoubtedly a fantastic year for cryptocurrencies. Millions of investors from every corner of the planet found themselves confronting and trying to understand Bitcoin, the blockchain technology, and all the other cryptocurrencies that populated this market.
One of the reasons that probably gave rise to this growth was the Ethereum protocol, a programmable protocol that allowed the birth of new tokens and gave life to the ICO funding model, a new form of fund raising open to investors from all over the world.
But what will await us in 2018? What will be the trend of this market and how will the institutions behave in this regard? Let’s see it together.
First of all it is very likely that Bitcoin, while remaining the leader of the cryptocurrencies, will see its share of market dominance fall, due to the constant creation of new coins that arouses the interest of many new investors and a consequent increase in trading volumes.
Most of the trading pairs in the exchanges, however, still take place through Bitcoin, and it still remains the first investment choice for many people approaching this market for the first time. We can say that Bitcoin, over time, has turned into a store of value rather than a payment method.
Regarding the regulation of the market, we must say that the controls will begin to be more accurate, and many investors who hoped to hide their capital gains thanks to cryptocurrencies and therefore avoid paying taxes on profits, will have to change their mind. The profits on cryptocurrencies are in fact a taxable event, and the attention from the tax authorities of the whole world will become higher.
Many people in the financial sector are talking about a speculative bubble when it comes to cryptocurrencies, and probably they will continue to do so in 2018.
Our impression is that although there is certainly a large speculative component, every major technological innovation is always accompanied in some way by speculation, and it is through this new creation of wealth that we will see the best ideas take shape.
It is possible that in the course of 2018 some of the projects that today have a great value in terms of marketcap will be replaced by other projects.
We do not know exactly what will happen, no one can say that, but what we do know is that blockchain technology has demonstrated a potential for transformation for a wide variety of uses, and the adoption of this technology will continue to grow in the next years.
Banks and institutions have not yet come close to investing, for example, in Bitcoin or Etheruem, but they begun to observe and study the industry and to introduce the use of blockchain technology within their services.
Regarding the total marketcap of cryptocurrencies we can not say with certainty what the value will be. Some people say it will exceed 2 billion dollars by the end of 2018, while others say it will even exceed 10 billion dollars.
It is certainly interesting to try to guess what the future trends of this market will be, and to be part of it during 2018 will be even more satisfying.
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