The year 2018 is coming to a close and it is time to draw conclusions for the cryptocurrency markets and industry as a whole. Times have been complicated and a lot of the predictions that were made by experts and analysts for 2018 have not turned out as expected. In this article, we will depict the past year and make predictions for 2019.
First, it is essential to analyze the major coins and currencies, and their values. By doing so, we are able to paint a picture of the markets as a whole and understand the overall yearly trends. Bitcoin, the first-ever decentralized virtual currency, has experienced an extremely negative year and has seen its value drop by close to $16,000 since December 2017, when it hit its all-time-high of $19,000. Ethereum has also experienced a severe decrease in value, which has negatively affected a lot of other cryptocurrencies relying on its blockchain. Ripple and litecoin have also seen one of their worst performance years. As a result of all these major coins going under a bearish trend, the whole crypto industry has been negatively affected.
This has bled into many crypto projects that were started this year or already established. A lot of these projects have been cut short, canceled, left without funding or bankrupt. As a result, a lot of security and utility tokens have suddenly ceased to exist. Coins that were in the CoinMarketCap Top 100 have seen their value drop to zero rather rapidly.
Furthermore, the ICO sector has been tremendously affected by this year’s bear trend. In 2017, it was one of the most lucrative and efficient ways for companies and startups to raise funding for their activities and business. Raising capital via cryptocurrencies and ICOs was innovative, new and trendy. However, in 2018, a lot of companies have postoponed or even canceled their scheduled ICOs due to the market and the value of digital currencies fluctuating too much. The number of ICOs has drastically decreased from 2017 to 2018.
As we enter the new year, it is time to make predictions for digital currencies. The year 2018 was rough for the crypto markets and for the digital currency space as a whole. However, we can expect the year 2019 to be different. A lot of exciting new projects are coming to the crypto space and this means a lot of new investors will enter the industry. Large companies are continually investing in the space, whether it is with R&D or with their own proprietary virtual currency. Bitcoin and other major coins will stabilize and eventually steadily rise in value. Will the year 2019 be a milestone one for crypto? Are you more bearish or bullish for the crypto markets this year?
TLDR: The year 2018 was a rough one for the crypto markets and for the space as a whole, for many reasons. At CryptoAnalyst, we believe that the upcoming year will be far better.