Money has always been an essential part of society for centuries. The same helped in economic growth, and thus, the money was protected in the best way possible according to the different periods. The modern-day money has to go through different channels before coming in the hand of an individual. The revolution that changed the definition of money gained popularity from 2009. The digital money was a peer to peer networking thing that attracted many. Due to the same, cryptocurrencies were recognized as a diverse opportunity for growth. Some even said the cryptocurrency is the future of the next-gen economy.
Past of the cryptocurrency
Walking down the memory lane, the cryptocurrency caught up the buzz in 2013. Bitcoin was the nucleus of many media reports as the coin escalated to $266. In the subsequent years, the currency was spotted in 10 folds. The entire market cap was at an astounding level, and thus, the same was a magnet for the investors who wanted the future in their hands. In 2017, Bitcoin was crowned as the king of the cryptocurrency market. The coin began the year at $1,000, and by the last quarter, Bitcoin was at $17,000. In 2018, the coin escalated nearly to $20,000 at the beginning of the year, but the pullback pressure compelled the coin to close the year at $3,000.
Current Scenario of the cryptocurrency
The cryptocurrencies are the present time that has broken many restrictions. The currencies are used in gaming zones. There are Bitcoin ATMs that allow dealing by converting cash or credit card or debit card or bank transfer into Bitcoins. Alongside, there are many upcoming opportunities emerging which would give new horizons for the cryptocurrencies.
The current year spotted not only Bitcoin but coins like Litecoin, Ethereum, Ripple making its way to the top. Tron Ecosystem, the parent company of Tron, captured many headlines in the first and second quarters. Litecoin emerged as a surprise for many as the momentum in currency was better than Bitcoin. Litecoin started the year at $30 and in 6 months, the currency jumped to an approx value of $150. The digits here have quintupled in just two quarters. However, the surge wasn’t locked in Litecoin and the present value of the coin is approx $40. Bitcoin started 2019 with a marvelous pace. The coin escalated to $13,700 in the second quarter but the surge couldn’t stay for long and now, at the time of writing, the currency is around $7,000.
In 2019, there was a lot of news circulating new ventures in the market. The same is going to give 2020 a new set of opportunities. There are few exchanges planning to adopt the cryptocurrencies to give it more exposure. Also, in conjunction with the ongoing popularity, the cryptocurrency restricted countries are planning to lift the boundation.
Emergence of stability
The last couple of years are reflecting the drastic change in the volatility in the cryptocurrency. In 2018, the opening price was around $13,000 and the closing was $3,000. There was around $10,000 loss in 12 months. The picture seems to improve in 2019, as the currency started at $3,000 and is likely to close around $7,500. Instead of loss, there is a possibility of profit in Bitcoin. Alongside this, stable coins are paving their way for success. Tether and EOS, being the mainstream coins in the market, somehow managed to stay at the top of the list with their stable characteristics amidst the violate market. The coming year would carry similar potential coins with leading stability in the market.
2020 and beyond with cryptocurrency
The economists believe that the bearish trend is around the corner and that would be the time for blockchains and cryptocurrencies. The investors would switch to cryptocurrencies to safeguard their savings and money. The crypto market is based on peer to peer networking; hence the face value would sustain more than the virtual money. Also, the gamers and gaming industry has found solace in cryptocurrency. The increasing popularity in esports is speculated a new horizon for cryptocurrencies. Surprisingly, the unpredictability attached to the esports isn’t bothering the players. There has been the ease with the emergence of digital money in the gaming world that has also helped in boasting the industry.
The change is the only guarantee
Among the predictions that are made for the cryptocurrency, some might turn out to be true at the beginning of the upcoming year and others might take some time. However, the marginal complications in the cryptocurrency have turned out to be a fortune for the inventors and investors. With all the assumptions regarding the cryptocurrency, we are sure that this is just the beginning of a revolution and there is a lot waiting for the investors to encounter.