Over the past month, the state of the cryptocurrency market has top more than 150% and still booming. Investors and traders are smiling and can see that the future of cryptocurrency is a positive one.
Let's review experts view on the current state of cryptocurrency:
I believe the downfall of crypto markets over the past year has just been a correction or you can say the people who run the economy crashing it to buy it at discounted prices. Like the saying Warren Buffet said a few years ago; “buy when there is blood on the streets”.
The future of payments will be crypto it might take some time but that is what will happen. If you look at the course of history, mode of payment was barter, then it changed to gold/silver, then paper money, then plastic cards and now slowly both plastic cards and cash are being used less and less.
Many businesses like Amazon, Tesla and others are taking crypto payments. There must be a reason why they would accept it. Since they are powerhouse companies and have a net worth of trillion dollars or more they must know something.
The world is evolving daily and switching to crypto will take time, govts and institutions are prepping the people indirectly and the ones who will capitalize on investing in crypto now will be the ones who will reap the benefits in the next few years. The ones who don’t will be left behind.
Founder of Startupily
The current state of the entire market is weak at the moment for retail investors. The sentiments of retail investments are bearish therefore, reluctant to take buy positions. The overall sentiments of retail investor are negative and carrying a fear that prices could drop further. From a future perspective, the market is not bad at all. It is a good time to take buy positions. There is a famous technical indicator in the capital market (i.e. Golden Cross). The great news is that it is forming on most of the coins on weekly charts which is very bullish for the entire crypto space. It is a matter of 12 months from now and we will soon see prices go past $15,000-$20,000 for bitcoin. This is a good time to take long-term buy positions for 3-4 years for mindboggling gains.
After a steadier start to 2019, we’ve witnessed a bullish Bitcoin in recent weeks with the price rising from $4,102.93 (1 April) to $5,098.47 (16 April). As a result, we’ve also seen an increase in the number of online searches for Bitcoin and Bitcoin-related terms (as seen in Google Trends) and we view this as setting up a good foundation for the cryptocurrency market for the rest of the year.
Our view is that the price was due to stabilising following the boom period of late 2017 and as a result of the upcoming “halving” or “halvening” in 2020. Historically, the industry has shown similar price behaviour before previous havening and we feel this is repeating again now.
What does the future look like?
Bitcoin’s future is bright, especially as it’s still in a young and emerging phase. We see it continuing to gain the interest of more people who want to rely less on traditional finance and embrace alternative payment options.
With the increasing stability of Bitcoin, we’ve also seen a growing interest from businesses wanting to accept Bitcoin as a payment method. As a result, CoinCorner will soon be launching a payment gateway service which will allow online merchants in the UK to accept Bitcoin as a payment method. Importantly, there is no price risk to businesses as we handle the GBP/Bitcoin exchange for them. Overall, as consumers will be able to use their Bitcoin to buy products/services, we believe that the industry will develop at a quicker pace and that new perceptions of Bitcoin as an alternative form of currency will begin to emerge.
CEO and Co-Founder, CoinCorner
It’s only been a little more than a decade since bitcoin, the first cryptocurrency came to fruition representing a paradigm shift to the financial sector as a whole. With a global market of roughly 172 billion dollars, it is undoubtedly one of the fastest growing markets we’ve seen in the last century. Although the current state of the crypto market is difficult to define and there are hurdles to overcome, it seems as though IEOs are the newest trend and the safest route we’ve seen thus far.
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