Cryptocurrency Trends to Watch Out in the New Decade 2020
The year 2019 has been one of the remarkable and glorious ones for the Global Crypto Market. In a way it transformed Crypto Market. Last year we witnessed new groupings. Solutions for novel trading and several blockchain protocols. To be maturing. All of these happened despite having a secular bear market.
Last year we all saw the Global regulatory bodies. Became less apprehensive towards cryptocurrencies, and many of the countries started. Their own blockchain infrastructures. In fact, leading leaders like China entered the global competition. And as well as encouraging innovation with its large resources. Briefly. We can say blockchain is gradually picking up the speed. Thus, the crypto market is far from slowing down.
In this article, we have curated a few trends of the crypto market that can come out in 2020. So, let’s look at the forecast for the year to come!
Over the past few years, the least populous states in the US have become the global cradle for cryptocurrency companies. Wyoming, a state legislated thirteen laws over blockchain and cryptocurrencies. All these laws are in favor of digital banking and characterize digital assets into three different categories. Fortunately, in the past year, the majority of US states followed the lawsuit. In the coming year, the majority of experts believe cryptocurrency will become a secular bull market and eventually, the period of consolidation will fade out.
The Federal Reserve is stepping in:
The lack of government scrutiny was the ultimate missing piece of the puzzle. In 2019, we observed the growing awareness on the part of the Federal Reserve. At the end of Last year, Federal Reserve revealed that the US central bank is thinking about a potential digital equivalent for the banknote. We also witnessed that Internal Revenue Service as concreted its guidance for reporting cryptocurrency transaction for coming tax sessions. Looks like, the current legislation of US encouraging Crypto markets, for both supportive law and onion experiments.
The dominance of Token-based apps to be increased:
In the past year, token-based applications like Brave, Steemit and Alluva reported the increasing number of user counts and alongside developing new features. The Brave exceed over 8 million users and announced a partnership with Everipedia.
Steemit unveiled Smart Media Tokens, the latest cryptocurrencies committed to digital content developers. Meanwhile, Alluva becomes the world’s largest analyst network. Following the trend, we can conclude in the coming year, token-based apps going to dominate from rewards to potential price variants in crypto markets.
Corporate giants are moving towards Crypto:
With the rapid growth of Crypto market, several Tech giants and multinational finance organizations have taken extreme interest instable coins. Earlier in 2019, Facebook and JPMorgan chase announced their first raid into crypto space along with their native tokens. Possibly both JPM Coin and Libra expected to release sometime in 2020, but it is evident following the action other multibillions companies perhaps going to announce their stable coins.
Cryptocurrency becoming a momentum in Finance eco-system:
From New York Stock Exchange to numerous global market companies including CME group as entered the crypto universe in the past year. All of these entrants offering Bitcoin features, custodian services and other institutional investing options. Consistently, crypto finance ecosystem has grown with Coinbase, Kraken and Gemini and some other cryptocurrencies. All of these cryptocurrency exchanges are expecting accredited investors in the United States.
In the end, we can conclude 2020 is going to be quite a pivotal year for blockchain and cryptocurrency development. We can assume it will create more vivid space in the finance ecosystem in the year 2020.
Have a great Crypto 2020 Year.
Writer and Researcher on Blockchain technology, Cryptocurrency, Cyber Security and etc., Graduate in Journalism and Mass Communication and currently pursuing Post graduation diploma in Marketing communication from Calcutta University. A simple person with big dreams and hopes in life. Being a Marketing Communication student, I am extremely interested in the field of Content Marketing. I love researching and learning new things that’s how I ended up working as a Content Writer.