The future of the cryptocurrency and digital assets remain in question since the downfall of the crypto market. The market has been struggling to find stability since the beginning of 2018. Despite the downward spiral throughout the year, many hope that next year could be totally different.
Given the magnitude of proverbial damage to the credibility of cryptocurrencies in 2018, it would not be a surprise if the same trend goes on throughout 2019. As the pressure has reached its peak and yet there is no convincing reason to expect an up-rise in the near future. Nothing guarantees a price turnaround for any currency, with most crypto coins depending on Bitcoin’s value, there may be some problems in the following year.
Even the experts are unsure about the industry’s foreseeable future. While many believing that Initial coin offerings will not return to the same degree of hype and speculation.
The co-founder of Decred, Jake Yocom-Piatt believes the ICO model “died” in 2018 and many failures have been listed in the process. However, he remains hopeful that 2019 will offer something exciting:
“2019 will not be about exciting new ways to use blockchains. It will be about which cryptocurrencies get the fundamentals right, organize their collective intelligence, and can endure the gyration induced by ignorant prospecting. Just like during the dot com bubble, endurance matters. Those that survived the dot com crash stood tall over those who ran out of gas. It was those projects that came to dominate the space.”
However, the most important question is whether or not the mainstream adoption of cryptocurrency will ever take place. The cryptocurrencies and digital assets remain speculative in nature. Bitcoin and altcoins are considered more of an investment than a means of transaction which is not used on a daily basis.
The President of eMusic, Amir Koch shares his view on the matter. He explains:
“Despite the market downturn, 2018 was the year where mainstream adoption of crypto began to gain steam. I believe 2019 will be a major step forward, with a huge player coming out and embracing crypto, such as payment company accepting crypto, pushing adoption by the public into the mainstream. 2019 will also be the year of the reverse ICO. Gone are the days of companies with just a white paper and a dream.”
Many remain hopeful about what potential changes may occur in 2019 for cryptocurrencies as well as their underpinning blockchains.