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The crypto markets are showing pity for us this weekend. The price of Bitcoin, XRP and Ethereum is currently growing, respectively by 1.11%, 1.10% and 2.81%. In other good news, it seems that Litecoin and BitcoinSV are showing a bullish momentum, both cryptocurrencies have increased by 8% in the last 24 hours.
2018 was a difficult year for cryptocurrency. The worst part has been in the last 3 months in which the market has "attacked" traders with a 3-month sideways market just to add insult to injury and break down further. Many have tried to call the fund – and many are still trying – but the truth is that cryptographic markets are unpredictable and no one knows what the future will bring.
In my opinion, the best thing to do at times like these is to take it day by day and appreciate every bullish momentum, no matter how small. While cryptocurrency markets do not usually move much over the weekend, things are not going well today.
Twitter's CryptoBull believes that, regardless of how Bitcoin will perform, we are very likely to see the high season early. One can only hope that his prediction materializes.
The three most likely scenarios now imo:
1. Bitcoin rebounds, the altseason begins.
2. Bitcoin remains flat, the altseason begins.
3. Bitcoin drops further, starts the altseason.– Crypto ฿ ull (@CryptoBull) December 13, 2018
Upcoming developments of Ethereum
It is worth noting that Ethereum is working on the implementation of something called ProgPow. In short, it is a new mining algorithm tailored for GPU miners. With Constantinople behind the corner, the reward of the block will come down. As a result, the developers of Ethereum are trying to eliminate ASICs in order to bring back some of the profits to regular users with GPU mining platforms. If ProgPow is actually implemented it is still a separate debate.
Litecoin Lightning Network
Part of the reason why the price of Litecoin could rise higher than other cryptocurrencies is because the first Litecoin Lightning node was launched 2 days ago. CoinGate – an exchange of cryptocurrency – announced on December 13 that their Litecoin Lightning Node is ready to be deployed.
@litecoin community, we bring some interesting news! Our #Litecoin #LightningNetwork it's ready to be deployed and will soon be available on CoinGate! Keep up to date with the news as we approach! Here is a small preview @LTCFoundation @SatoshiLite @starkness! pic.twitter.com/QahcnFlYc5
– CoinGate (@CoinGatecom) December 13, 2018
What does the future hold?
While some traders remain optimistic about the future of cryopreservation markets, others are becoming skeptical. Now that the ICO model is dead, downsizing solutions are a nightmare that no one cares about, and markets are plunging to new lows every single day many people are asking themselves, is this the end of cryptography? Will the market rebound soon? Will we see Bitcoin at $ 10,000 again in 2019?
The truth is that no "expert" can predict the future. We can examine the technical indicators, the past market actions, the various developments in cryptographic space and draw our conclusions from these facts.
I am forever bullish on the cryptocurrency. Personally, I think we'll see another encryption boom when "killer apps" using cryptocurrency will make it mainstream. At this time, the outsider cryptocurrency looks like a big scheme of ponzi. There are not many cases of use, even for Bitcoin. Yes, you can use Bitcoin to buy various products online, you can exchange them and you can keep them. But at the moment there are not many innovative apps with thousands of users who are really demonstrating the power of blockchain.
The few "killer apps" that come to mind are: Zombie Battleground, Steemit, DuckDice, OpenBazaar and Purse.IO. These apps really show the beauty and utility of Blockchain technology and they do not have many users too. Until we can get the average joe to start using apps created with blockchain technology, the cryptographic space will remain a circle.
Do not get me wrong, cryptocurrency is already extremely valuable by default, which is why total capitalization is over $ 100 billion. However, if we want to reach the trillions we need more cases of use.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
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