2018 Cryptocurrency Market Semi-Annual Report

2018 is A crazy year for cryptocurrency And we are only half of the process. A lot has happened in just six months: a massive disruption, a stabilizing market, the emergence of exciting new technologies, and regulatory developments around the world.

Here is a guide to the most important things that have happened in the world of cryptocurrency markets and blockchain technology so far in 2018.

Market crash in mid-January

As we head toward the end of 2017, things looked rosy, especially if you were a Bitcoin holder. in price direction Toward $200,000 for the first time, cryptocurrency investors were sitting pretty, and a frenzied rush to invest ensued. But once the excitement subsided, something unpredictable happened. The market collapsed.

On January 16, 2018, Bitcoin holders realized how dire the value of their coins was. down 15%. The news triggered a decline in the value of other major altcoins and the excitement surrounding the market just a few weeks ago has faded, as have investor gains.

As prices continued to fall across the board, people began panic selling, leading to the nickname ‘Black Tuesday’. Some coins suffered losses of up to 40%. And it seemed like Warren Buffett’s prediction had come true and the cryptocurrency bubble had burst for good.

However, less perturbed voices in the industry pointed out that January always brings price declines in various markets and that a similar slump has occurred in Bitcoin. 2015.

There were several causes for the crash. First, After Christmas, everyone is short of money.Similar festive periods are observed in Russia and China, and considering periods of mass display followed by periods of austerity, it is not difficult to see how this could impact the cryptocurrency market as well.

It is no exaggeration to say that natural market adjustment was inevitable after the price of cryptocurrency soared. Every time there is a sharp increase, there is a reverse swing of the pendulum that must be overcome, and January was that moment.

Now the price is more stable It is expected to rise at a more stable rate, indicating market stability and maturity.

The Rise of Litecoin

Some say Litecoin poor man’s bitcoin, its popularity and value seem to be increasing. It was released through GitHub’s open source client in October 2011. Bitcoin Core Client However, it offered reduced block creation time, a larger number of usable coins, a different hashing algorithm, and a modified GUI.

In 2013, its value increased tremendously, increasing by 100% in 24 hours.

By May of last year, it had established itself as one of the top five cryptocurrencies by market capitalization, and in early 2018 it began being accepted by various online retailers.

Various industry voices have stated that they believe it will surpass $600 per coin by the end of the year. The truth of the matter is that Litecoin tremendous potential And it is presented as a viable alternative as it negates many of the problems faced by Bitcoin users. Let’s take a look at what will happen to Litecoin in the remainder of 2018.

Malta announces industry regulations

Malta has long been a center of digital innovation. Take the iGaming industry and FinTech market as an example. Both have been able to grow significantly thanks to support from governments and regulators. maltese authorities.

Then in March, it announced three new bills to regulate and promote cryptocurrency and blockchain markets. that much Virtual financial asset invoice It will provide a regulatory framework for both ICOs and cryptocurrencies. that much Malta Digital Transformation Authority Bill and Technology Commitments and Services Act It will oversee companies operating within the sector and provide necessary guidance for their operations.

This will make Malta the first jurisdiction in the world to enact legislation that supports and supports the industry. Where many countries are struggling with cryptocurrencies, Malta is instead strive to protect Protecting both customers and operators while enabling the sector to grow. This is good news not only for Malta but also for the global market. This is because many other jurisdictions are expected to follow suit, using Malta’s law as a template for their own regulations.

Ensuring AML and KYC compliance and addressing concerns about privacy, illegal activity and lack of trust in ICOs means: The industry will receive a much-needed confidence boostTrust levels rise globally.

Binance transfer

This time last year, Binance was nothing more than a dream, an idea, or a concept. Then, in July 2017, they raised $15 in an ICO and the world’s largest cryptocurrency exchange was born.

Founded by Canadian/Chinese entrepreneur Changpeng Zhao, the company has now grown to a market capitalization of $1.3 billion and is the largest and most popular cryptocurrency exchange in the world. After strict regulations were introduced in Japan and China regarding cryptocurrencies, Binance was looking for a new home.

Around the time these rules were tightened, the Maltese government announced its intention to create a legal framework for virtual currencies, ICOs and blockchain technology. This was bound to happen. In ~ The information was made public on March 23rd. The cryptocurrency world reacted.

This vote of confidence is a big deal for the small Mediterranean country, and it is expected to attract the attention of other international cryptocurrency-related companies looking for a foothold in the EU market.

Groundbreaking developments in blockchain

As cryptocurrencies have become more popular and continue to penetrate the mainstream, the technology underpinning them has also evolved. much interest. Blockchain, the platform that facilitates cryptocurrency transactions, has not only grown in popularity, but its use cases continue to grow.

2018 was definitely the year of blockchain, and with half a year left, we’re looking forward to more. More Interesting Applications of the technology we are going for.

There have been instances where companies like Maersk and IBM have adopted the crypto beer vending machine created by the US-based Civic company to facilitate global logistics processes at low cost. It has been presented as a way to transform electoral systems in developing countries, provide microloans to small and medium-sized businesses, and solve the energy crisis in Third World countries.

It seems that there are not many industries that have not been traditionally influenced by blockchain potential. Non-technical fields There is potential for blockchain integration in law, accounting, medicine, etc.

Just 12 months ago, blockchain was not widely understood. People were cynical and the connection to Bitcoin made many investors wary. But as its capabilities become better understood, more and more applications are becoming apparent.

Utilization is expected to increase toward the end of the year. Blockchain integration It is increasing in both large international companies and small businesses.

TRON Emerges as a Global Competitor

For the past 6 months. Tron is Prices rise at a steady pace. Despite some issues earlier this year, it seems to have finally settled into a steady momentum that paints a bright future for the platform and coin.

TRON is a blockchain-based decentralized protocol project. Content distribution platform Although no major public platform for the digital entertainment industry is yet active, the value of the TRX coin is starting to soar.

Founded by Justin Sun in September 2017, the company’s basic idea is to create a free global entertainment content ecosystem that gives creators the power to publish, store, distribute and own their content. Eliminate the need for middlemen. The highest value per coin was $0.30 on January 5, but it is expected to reach $1 per coin in the next year or two.

What makes it a desirable investment is not only the fact that it is another cryptocurrency, but that the platforms it is designed to work with are not only highly functional and purposeful, but also present a much-needed solution.

TRON for life 11.39% increase in value It ranks among the top tier of cryptocurrencies in terms of value appreciation. TRON appears to have created real demand for its service and will likely continue to be a service to watch through 2018.

Overall

These are just some of the major developments shaping the cryptocurrency world in the first half of 2018. With 26 weeks left, explore the exciting world of cryptocurrency, blockchain technology, and fintech for the rest of the year.

Do you think the second half of 2018 will be similar to the record prices of 2017?