The following are some of the major changes in the world of cryptocurrency and blockchain, which bodes well for bitcoin and other cryptocurrency market prices.
- Why is the economic weakness turning into a hotbed of bitcoin's next bull market?
- The price is approaching $7,500, doubling in the next month, is Bitcoin still brewing in the bull market?
- Why is this bull market different?
- Bitcoin broke through $9,500 and market capitalization exceeded $170 billion
- Data Analysis | Tether Manipulation Behavior Is Not the Reason for the Bitcoin Bull Market in 2017
- Bitcoin fantasy half a year: the price doubled, and entered after 00
Market maturity: The fewer ICOs, the more large companies entering the blockchain
After the bitcoin bull market in 2017, as more and more companies hope to enter the increasingly lucrative cryptocurrency market, the first-time token public offerings (ICOs) and other token sales have exploded. Unfortunately, many projects that raise funds in this way either fail to deliver on their promises to investors or never try to do so from the start. The 2017 ICO is estimated to be 80% fraud. Of course, the resulting mistrust has had a negative impact on the performance of the cryptocurrency market, and investors who have confidence in cryptocurrency projects have decreased.
The bear market in 2018 destroyed many projects that lacked substantial commitment or capacity to implement the plan. Although a large number of ICOs are still held, investors' attention has been greatly reduced due to the continued lack of credibility.
Over the past year, the blockchain market has matured far more than start-ups with suspicious ICOs, and some of the most well-known and trusted companies in technology, logistics and retail are gradually using the technology, including Microsoft, Wal-Mart, Pepsi, and Louis Vuitton.
The rise of state-backed cryptocurrency, stable currency and JP Morgan Chase coins
These three upward trends in the field of cryptocurrencies represent an increase in the level of trust, or at least an increase in the level of support for the technology behind it. Many central banks, including Saudi Arabia and the United Arab Emirates, are still exploring the possibility of launching cryptocurrencies supported by their governments to reduce remittance costs and provide additional reserves for domestic payments.
As the stable currency becomes more prominent, it is attracting “another investor”, seeking investors who are more stable than the cryptocurrency market could provide in 2017. In fact, despite the launch of the first stablecoin in 2014, the concept was not known until last year.
JPMorgan Chase Co., Ltd. was launched in February 2019, becoming the first large bank in the US to create its own digital currency. In fact, it can be considered the first "institutional" cryptocurrency. This will not attract many mature cryptocurrency investors, but it is likely to expand the market to new audiences.
The market is transforming
These changes in the market, as well as the growing support of mainstream investors for cryptocurrencies, suggest that the cryptocurrency market is attracting a large number of investors, which may not have been touched before; there are many “safer” on the market today. s Choice.
It may not be surprising that many of the blockchain projects last year failed to meet the standards, which led to a decline in the market. However, the difference and prospect of the market today is that more experienced professionals have joined the industry.
As long as the blockchain industry continues to avoid hitting suffocating regulatory caps, the position of the cryptocurrency market seems to be much more stable in 2019. (Nuclear Finance)