Is the crypto craze over? Some people seem to think so, but others believe that cryptocurrencies are just getting started. What do you think?
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Cryptocurrency, once a high-flying industry, has taken a beating over the last year. Market prices have plummeted, ICOs have dried up and the general mood in the space has turned somber. The question on everyone’s mind is: is crypto done?
It’s a valid question. For those who got in early, it’s been a painful few months. And for those who missed the boat altogether, it may seem like the opportunity has passed.
But there are still reasons to be bullish on cryptocurrency. Despite the bear market, there are signs that the industry is maturing and becoming more institutionalized. And while prices may not return to their all-time highs anytime soon, there’s still potential for healthy returns in the long run.
In this article, we’ll take a look at some of the factors that could impact cryptocurrency prices in 2019 and beyond.
What is Cryptocurrency?
Cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its biggest allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, numerous other cryptocurrencies have been created. These are often referred to as “altcoins,” short for alternative coins.
Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Bitcoin is the most well-known cryptocurrency and was one of the first to be accepted as a form of payment by major online retailers such as Overstock and Expedia. Cryptocurrencies are also sometimes accepted as investments.
History of Cryptocurrency
Cryptocurrency is a type of digital asset that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.
Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, thousands of other cryptocurrencies have been created. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods or services.
Cryptocurrencies have seen a volatile trading history, with large swings in value common. Bitcoin, for example, saw a price increase of over 1,000% in 2017, before crashing down by over 70% in 2018. While the long-term prospects of cryptocurrencies remain uncertain, their popularity continues to grow.
Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto and released as open-source software in 2009.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. The number of bitcoin transactions has grown significantly since the launch of bitcoin in 2009 and reached 1.2 million by November 2017.
Ethereum, the second-largest cryptocurrency by market value, has been on a tear lately.
The price of Ethereum’s native token, ether (ETH), has surged more than 70% in the last month and is up nearly 400% year-to-date.
What’s driving Ethereum’s impressive rally?
There are a few primary factors:
1. Increased interest from institutional investors: In recent months, we’ve seen a growing number of institutional investors express interest in buying digital assets like Ethereum.
2. The issuance of new ETH: Last month, Ethereum completed a long-awaited upgrade to its proof-of-stake consensus algorithm, which will help it transition from a proof-of-work system (where miners are rewarded for verifying transactions) to a proof-of-stake system (where validators are rewarded for staking their ETH).
3. The launch of new decentralized applications: The DeFi boom of 2020 has sparked a wave of innovation on the Ethereum blockchain, with developers launching a wide range of new decentralized applications (dapps) that allow users to do everything from lending and borrowing funds to earning interest on their cryptocurrency holdings.
Litecoin is a digital currency that is similar to Bitcoin. It uses a blockchain to store transactions and like Bitcoin, it can be mined. However, Litecoin has a faster transaction time and a different algorithm for mining. Litecoin was created in 2011 by Charlie Lee.
Ripple, the world’s third largest cryptocurrency by market cap, has seen its value increase by 3,600% since the beginning of 2017. However, since reaching an all-time high of $3.84 on January 4, 2018, Ripple has been in a steady decline, and is currently trading at just $0.47.
after all We can say that , the verdict is still out on whether or not crypto is done. While the prices of Bitcoin and other major cryptocurrencies have fallen significantly from their all-time highs, there is still a lot of interest in the space. And, with new technologies and applications being developed all the time, it’s likely that crypto will continue to evolve. So, while crypto may not be “done” yet, it’s certainly not going anywhere anytime soon.