Cryptocurrency Trends are indicating that it is rising fast and inebriating. But what these trends exactly mean and which ones should you look out for? Cryptocurrency was thought to be a phase in a bullish market that trends for few years and goes away. There are indications that it might be true, but then again, there are some in favour as well.

Cryptocurrency-trends-2018

Satoshi Nakamoto published a paper in The year 2008. It describes a decentralized virtual currency that cannot be replicated, copied, or forged. Since it is decentralized,  you can use it as an actual instrument of value without involving the financial institutions. A Cryptocurrency is a representation of value that you have. Just like money you can pass on value to another person for goods or services.

About Cryptocurrency: A Brief introduction

Cryptocurrency work on three things Blockchain, cryptography and a peer to peer distributed system. A Blockchain is nothing but a record or ledger that is distributed across the nodes. Since the record of unique Bitcoin is with many nodes, it doesn’t require a central authority to prove its authenticity. Even if one or more nodes go offline, other nodes keep the ledger. The longest Blockchain that contains the longest record is most trustworthy as it is verified from the maximum number of nodes.

There are economic and political trends that you need to look out for making sense of Cryptocurrency trends. Since Cryptocurrency invalidates the authority of governments and financial institutions over monetary system, it sure poses a risk.  Following is a list of trends that you should monitor to grossly estimate the risk and future of cryptocurrency.

1. Involvement from Giants

Cryptocurrency seems to be on its way to stand on the shoulders of giants. A lot of tech giants are making moves toward cashing the action. More of these companies involve

Amazon recently bought few domain names with relevant names to bitcoin. Domain Name Wire Domain Name Wire reported that Amazon bought three domains by the name amazonethereum.com, amazoncryptocurrency.com, and amazoncryptocurrencies.com.

The Amazon Inc. already has amazonbitcoin.com since 2013. We don’t know what it means as of now because Amazon has not made any official announcement yet. There are various reasons why Amazon could have done this. One may think that Amazon wants to catch up with cryptocurrency trends to secure its position.

But we can’t be so sure of Amazon being involved in cryptocurrency business yet. As the Amazon bought AmzonBitcoin.com  in 2013 for preventing fraud or possibility of frauds.

Microsoft has been adding a BaaS module to Azure to generate blockchain. Baas is “Blockchain as a Service”. Baas let people set up a blockchain environment without doing most of the physical work.

Azure DevTest Labs allows labs to experiment with private, restrictive, public or consortium blockchains. There are hundreds of blockchain, but the only handful of them are on Azure DevTest.

IBM is also trying to get a piece of the action by collaborating with Hyperledger. Hyperledger is an open source project with over 130 independent members.

See Also Cryptocurrencies to be deemed illegal in China: People’s Bank of China

2. Reaction of big economies

How big economies react to the advent of cryptocurrency will affect the cryptocurrency trends. These trends will mend and shape the future of cryptocurrencies like bitcoin and ethereum. The recent developments are both positive and negative, but all developments indicate that governments want to regulate cryptocurrency.

Russian President recently issued 5 presidential order to set up a legal framework to handle digital currencies. The orders mandates officials to plan policies for cryptocurrency miners, regulate ICOs, sandbox legislation for new blockchain technologies and Taxation. One of the order outlines the “formation of a single payment space”. Which indicates that Russia is preemptively securing its digital economic future.

Vietnam, India, South Korea, US and many other countries are also taking interest in regulating Cryptocurrencies.

India is taking steps to take down the ICOs that are independently working in the Country without any regulation. The government may take drastic steps to control, monitor and regulate the flow of cryptocurrency in Indian economy. The Indian government is planning to launch it’s own cryptocurrency Laxmi.

The outlook of Indian government about the cryptocurrency trends is cautious so far. Since they are planning to launch a cryptocurrency of their own it sure indicates bright future of cryptocurrency in India.

China is forbidding ICO and other trading platforms. Chinese Government claims that the cryptocurrencies are a medium of payment in criminal activities hence they need to block it. Earlier China banned all forms of cryptocurrency mining and trading in the country.

See Also Indian credit cards details for Sale on Dark-web using cyber currency 

Is the hate against Cryptocurrency Good?

The move from China and South Korea may seem dismissive of the cryptocurrency, but it is not. Being the biggest producer China cannot afford ignoring the Multi-Billion Dollar market. Currently, world’s economy has $84 trillion worth of money. The Cryptocurrency accounts for $141 Billion of Word’s economy. It may not seem like much against trillions but still, $141 billion is a big number.

3. High Growth Factor and Options

I remember when I first heard of Bitcoin. Back in my college days it worth about 1 USD. I thought I should make this thing whatever this is, it is going great and gonna be big. I procrastinated and next, I heard about it was just rising in value. The hardware was costly and I gave up on the idea, which I regret now like many others.

cryptocurrency-trends-2016-17
Cryptocurrency Trends2016-17
Credits: cryptocurrencycharts.com

By January 2017 the value of one bitcoin was at $ 1,014.78, it rose 7 times just last week, so did the bitcoin investment. Marking a whopping 7408.52 $ mark at the time of writing this article. CME Group is about to introduce Bitcoin futures contracts by the end of the year 2017. It is pending regulatory approval and as soon as it gets government’s go ahead you can invest in it.

4. Promising Cryptocurrency Trends

The growth of cryptocurrencies like ethereum, bitcoin cash, neo, monero etc is consistent steady. We can analyze these cryptocurrency trends to guess the future growth of these currencies.

The growth of Dash and Etherieum are closely grouped together, the market capitalization of Dash is $ 2,059,281,416 USD while Etherieum stands at $ 27,771,791,827 USD. The market capitalization of Etherieum is about 13.5 times than that of Dash. Making Etherieum a better option for investment purposes.

A Comparison of Promising Cryptocurrency Trends

The most interesting figure is by BCH (Bitcoin cash). The BCH is priced at 652 USD as of now. If you look at the graph, you will notice that the growth pattern of BCH is similar to that of BTC. BCH is launched just this year and it is exhibiting a pattern that BTC has exhibited over a period of 7 years. It is wiser to invest in BCH if you can’t in BTC.

cryptocurrency-trends-2016-17
Cryptocurrency Growth Chart Analysis
Credits cryptocurrencychart.com

On Tuesday, the CME Group announced that it hopes to introduce Bitcoin futures contracts by the end of the year, pending regulatory approval. Futures are agreements where the buyer pays now for a commodity only to receive later date. If the value of commodity goes up by the date of delivery the buyer gets a certain amount for his / her investment. If the commodity loses money the buyer lose their money. The futures is priced lesser than the commodity itself so you can bet larger amount on more currency.

Conclusions

  • There is indeed a lot of interest of organizations, individuals, and governments over cryptocurrency.
  • The market capitalization of Cryptocurrencies worries governments but it is too big to fail now.
  • The Bitcoin is strongest of all cryptocurrencies but its growth is unreliable.
  • The potential for Cryptocurrency as a replacement for actual physical currency is imminent.
  • Governments implementing regulation over cryptocurrencies indicate it will be the currency of future.
  • Investing in a broad spectrum of cryptocurrencies is better than investing in just one Cryptocurrency.
  • Investing in BCH, ETH is safer than investing in BTC and Dash.
  • Bitconnect can match the growth of ETH in 2018.
  • Litecoin, Monero & Neo are showing and likely cross 400~500 USD mark by 2019.

Be aware of any investment that you make in Cryptocurrency. My personal suggestion is that you consider the possibility of loss beforehand. Fortunes are made by people who took risks, but not all of them made fortune. Be calculative, start slow and as you learn about cryptocurrency risks, invest more accordingly.

Do not succumb to the peer pressure of blogs, news, friends and coworkers who are urging you to invest in crypto. Most of the blogs and news sites are circulating paid articles. Learn first, invest later.

Please share your insights and views about cryptocurrency and it’s future.  If you liked this article please do share it with friends and family. Like our facebook page for more updates on tech, we bring you latest tech hacks, news, and Technology that actually concerns you.

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