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Cryptocurrency, Stablecoins-With Bitcoin making a wobbly climb closer to $ 4000, the entire cryptocurrency industry is still recovering from hitting a relative low last year. From the start of the year, the number one cryptocurrency by market capitalization is down nearly 80% from a peak close to $ 20,000 in December 2017.
For some, the fall in the price of the Bitcoin and the broader altcoin has raised the alarm and led to widespread exhaustion, negativity and an incoherent state of mind towards resources based on cryptography and blockchain. Just yesterday, EWN reported on the significant number of encryption-based startups that have been forced to close the store or reduce staff considerably in response to the current bear market, partly due to overexposure due to the collapse in coin prices.
While the terrible state of the industry has some complaints about the future of cryptocurrency – and others say that Bitcoin has died for the 300 timesThe brothers see 2018 as a severe correction, but a general mistake for a sector that is still experiencing increasing difficulties on the path of broader adoption and more focused development. During a Crypto summit held Friday in London from a financial point of view Bloomberg, a series of speakers seems to suggest that while there is no denying that the immediate prospects for cryptocurrency are shaky at best, the industry is experiencing a temporary stoppage that will eventually see the market for new on the pressing pace that characterized the end of 2017.
Speaking in the panel, Chief Investment Officer at CCL Investment Management James Bevan gave hope to investors who continued to follow the crypt during the current year,
"I do not consider this existential crisis, I consider it only an obstacle on the road and institutional investors have had a lot of obstacles on the road in conventional currencies and transaction systems".
Interestingly, panelists have identified areas of stable currencies and digital contracts as two potential routes for cryptocurrency to expand in 2019 and beyond. While this last was a fundamental pillar in crypto, with the third largest market capitalization coin Ethereum is considered the industry leader for the execution of smart contracts, the rise of stablecoins has characterized 2018 in the same way that the blockchain became a word of order throughout the past year.
"While no one anticipates an immediate rebound in encryption prices – Bitcoin has lost about 80 percent of its value this year – it has thrown the current recession as a growing pain over rigor mortis. , two areas of growth for the industry will derive from low volatility tokens known as stable currencies and so-called security tokens, digital contracts representing the ownership of assets such as real estate or shares ".
Given the level of innovation, security and digital functionality instilled by cryptocurrency technology, the coin industry as a whole has set a precedent that will be difficult to completely eliminate. Traders who continue to be rejected by the lack of price protection and are looking for a more stable form of Bitcoin to carry out transactions will find more benefits in the less volatile nature of the stablecoin.
Price-stable currencies, such as the popular but controversial TET USDT, allow traders and consumers to trade in the crypt without being exposed to the severe price volatility that has characterized the market throughout 2018. While some, in particular , investors try to negotiate and speculate on cryptography, they will find the lack of price appreciation or market-oriented value a drawback, most could find the most appealing stablecoin for daily use, which is the kind of adoption that could bring the cryptocurrency on the road to greater acceptance.
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