The approaches regarding cryptocurrency trading are evolving all the time. New or modified strategies pop up every day, promising big returns for low-cost investments. At this time, the veterans in the crypto field already know that this is not a simple topic, and these new methods are not always as promising as they seem at first.
Furthermore, there has been speculation from all the major news outlets about the bitcoin’s big summer boom in 2018, and if you’re new at trading, this might ruffle your feathers.
For that reason, we decided to present to you the most-talked-about trends from the beginning of the year so that you can have a brief overview of what’s going on in the crypto trading world.
Copyright: Photo by Thought Catalog on Unsplash
Decentralised Applications (dApps)
Decentralised Applications (dApps) came not long after the birth of cryptocurrency itself, and now they are here to stay and make an impact on the world. The most famous platform for building dApps today is the Ethereum (an open-source, public, blockchain-based distributed computing platform), which introduced smart contracts to the community. There are over 1,000 dApps for Ethereum alone in the world today.
The potential of the dApps is huge, and there is still so much to explore regarding the tokenization of assets, payments, lending, service transfers, insurance and other related fields. Investors might jump on the bandwagon regarding dApps because, in reality, they can offer more for less, due to their practicality and usefulness on the market.
Increased Market Stability
According to the London Block Exchange, one-third of millennials will invest in Bitcoin by 2018, and that’s a considerable proportion of the working population. Moreover, since the ways to purchase crypto coins increased and thus made the trading process more accessible, a lot more people got involved in the crypto world. Governments started regulating taxation and imposing guidelines to crypto platforms, which also gave the general public security to venture into crypto trading.
When we combine all of these external factors, we can see that finally, in 2018, the market is starting to stabilise. The prices are still volatile, but that tendency seems to be wearing itself down slowly. Enthusiasts say that the value of crypto coins will continue to grow, and that’s always a possibility, but hopefully, it’s not going to happen overnight yet again, as in 2017. The simple rule of what goes up must come down applies the most to drastic rises.
Another important issue we should keep in mind is that the governments of the world are responding to the crypto trend in some form or another. Venezuela, for example, launched a crypto coin at the beginning of the year called Petro, and the government itself developed it. Not long after that, Sweden announced the same and they gave its coin the name e-Krona.
In the words of Professor Richard Bronson: “Anytime a major corporation announces even a small partnership with an individual cryptocurrency that coin's value skyrockets. I can't wait to see what happens when a government officially adopts crypto. When the name of Sweden's coin is released, many people will become millionaires practically overnight.”
Every big country in the world has or is starting to draft bylaws and guidelines regarding cryptocurrency trading, and that changes the whole perspective on the subject. Some countries like the Netherlands, Germany, Switzerland, Belarus, Hong Kong and others have more liberal rules regarding bitcoin, while others like China, Thailand, Russia and more have banned crypto.
If you want to explore the trends of crypto trading further, you can also take a look at the following subjects:
- Cоinbаѕе’ѕ influеnсе
- Popularity of ICOs
- Decentralized exchanges
Sam Hoffman is a passionate finance explorer of the cryptocurrency world who likes to write about creative aspects of the digital trade. Currently, he is part of the team behind Blockbid.io content. Check out their latest guides on how to buy and sale cryptocurrency.
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