Is There Hope For The Cryptocurrency Market In 2019?

By Sumedha Bose

Let’s face it, a lot of uncertainity and anxiety have grappled the current cryptocurrency market, especially after the terrible performance of cryptocurrencies in the second half of 2018. People are either panicking and pulling out of the market, or they are skeptical about the investing any further.

This has hurt, and continues to hurt the growth of the cryptocurrency market. However, there is hope. Crypto Detractor Jeffrey Gundlach Has Predicted a Rise in Bitcoin’s Price and he is not the only expert who believes that the cryptocurrency’s redemption is on the horizon.

However, the market is flooded with naysayers as well. The moment the market crashed, these people were the first to disregard the entire possibility of a ‘cryptocurrency era’.

Leading news agencies and media publications said that the bubble had burst and that people were finally going to realize that the entire illusion of Bitcoins and digital currencies was just that, an illusion.

Recently. Vinny Lingham, a general partner at Multicoin Capital and the CEO of Civic, has also opined that the crypto market does not look like it will recover anytime soon. While it is difficult to estimate which faction will have the last say, it sure is a debate that has upstaged any other discourse in the cryptocurrency sector.

We have previously given you an insight on What’s Next For Altcoins in 2019?

It looks like the more that Bitcoin’s price drops, the greater the possibility for a recovery when it comes to altcoins. While this trend has been observed a few times in the past, we cannot guarantee that this will always be the order of things.

However, altcoins are finding greater acceptance and enjoying rising popularity amongst various companies. The blockchain technology that many companies provide with their cryptocurrency has also been a driving force when it comes to the growth of altcoins.

There is also another hope for recover since Prominent Cryptographer Nick Szabo Says Sanctioned Countries Will Seek Refuge in Cryptocurrencies. If this indeed happens, then undoubtedly the market conditions will improve and crypto will be taken more seriously.

 

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time. She can be contacted at [email protected].

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