Crypto has had the pretty successful year of 2018 when it comes to adoption, startups, partnerships, and growth. People have become aware of crypto startups and investments have started flowing in the crypto space. At the end of the year, however, crypto had a hard time getting rid of the volatility and increasing the trading volumes. The bear market seems to be on the run as the cryptos are seeing new lows every day.
Once the market gets done with the bear market, according to David Tawil, president of ProChain Capital, the lows reached by crypto at the end of 2018 might have given the investors a little ease relating to the fact that crypto has seen the lows and it might be a good time now to invest. Talking to BlockPublisher he said,
Although crypto was crushed in 2H18, it was able to show considerable resilience versus the securities’ markets’ volatility in December. I think that gave investor some comfort that the lows have been reached.
2018 saw a lot of hustle and talk relating to a Bitcoin’s ETF and crypto related regulations. Multiple ETF proposals were considered by the SEC, although none has been approved. David seemed optimistic relating to the fact that crypto might see developments in this domain. He stated,
I think that 2019 will be very important on the boring, but critical, issues of legal and regulatory framework. There should be considerable public developments on that front.
The need of the hour for crypto adoption according to multiple analysts and experts is that more startups should be introduced in the space which caters to the everyday needs of the general public. Applications should be built on public blockchains, backed by cryptocurrencies and tokens which have widespread use cases, like Amazon. Recently talking to BlockPublisher, Alan Warms, the CEO of ChainFront said,
What I will say, however, is that it’s time for the industry to put up. We need some wins – mainstream, widely used, applications built upon various public blockchains. Even in the early days of the internet, there were applications that really gave visibility into the potential – early Amazon.com – which only sold books – for example. In 2017 doctors and lawyers and other high net worth individuals started getting into the space – for the most part, they’ve left. To get them back, it’s time to really showcase the potential of this technology through actual working implementations.
Explaining his predictions on the topic of adoption, David was quite optimistic relating to the fact that developers would help triggering mass adoption of crypto in 2019, moreover, the “global macro and geopolitical tumult” could also help with crypto’s adoption worldwide. He stated,
I think that crypto will a surprise big winner in 2019. Furthermore, global macro and geopolitical tumult, could increase demand for crypto in unstable economies around the world
Hopefully, once the bear market comes to an end, crypto will see the light of day with trading volumes increasing, and as David predicted, the mass adoption of crypto would be triggered.