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Reasons Why 2019 May Be A Great Year For Crypto

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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being in May 2018.  However, the downward trend returned every time, and it still affects the coins, even now.

Some analysts believe that this is a natural part of the crypto cycle, which coins appear to follow if left alone and not influenced by important events. The cycle brings positive and negative trends equally, and according to complex calculations, it is possible that the bearish influence will soon disappear to be replaced by a new rally. It should also be noted that researchers have predicted another big drop before this happens, however, but the start of a new bull run could definitely be seen at some point in 2019.

2) Resolving scalability issues

As most people familiar with the crypto space are already aware of — scalability is quite a big problem for a lot of coins. It has been ever since Bitcoin was created, and it mostly affects the old coins with the most influence. Bitcoin, for example, suffers from scalability issues more than any other coin, Even now, it can only handle several transactions at once, which leads to long waiting periods for new blockchain-based payments, as well as larger fees.

Fortunately, solutions for scalability problems have been in development for several years, and one of the most promising ones is Bitcoin Lightning Network. When the development is complete, BTC blockchain will receive another layer where traders can make smaller payments without having to record them on the blockchain. The number of transactions will be significantly reduced, and the chain is expected to be able to handle the rest of the transactions with much more efficiency.

3) Attracting institutional investors

Cryptocurrencies managed to come to life and develop to this point without any support from the banks, governments, or large companies. While this is an impressive feat, the lack of support and involvement from established institutions is a large problem on digital currencies’ way of going mainstream.

Attracting this type of support means getting institutional investors interested in crypto. However, they will only approach the crypto space if there are safe ways for them to trade. The lack of proper banks and regulations, combined with high risks of losing their funds to hackers and vulnerabilities has prevented investors from wanting to hold crypto themselves. However, if they could benefit from cryptocurrencies without actually owning them, most of the issues would disappear.

This is why Bakkt Bitcoin Futures exchange and Bitcoin ETFs are so important — they can encourage institutions to join the crypto space, and invest in it. Since institutional investors are known for having the majority of money used for investments, the cash flow alone could be the cure for some of the issues crypto has right now. And, while this was already supposed to happen in 2018, several delays have brought the launch of Bakkt and BTC ETF approval to early 2019.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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