It has been an entire year since the last real bull run in cryptos and most traders and investors are ready to experience the excitement of their favorite coins blowing up once again. Ever since January 2018, all that the crypto market was experiencing were price drops, with minor attempts at recovery, which would only lead to another decline in prices.
However, there are several reasons to believe that this situation might change in 2019. Naturally, many are hoping to see it happen sooner, rather than later. One such reason is the natural progress of the crypto market. According to analysts, the market moves in cycles, which include bearish and bullish behavior alike. With the last bearish trend taking up the entire year of 2018, it is now time for the more positive development to take place.
Another reason includes large projects that have a goal to deal with problems that the crypto market has been facing, such as high volatility, scalability, and alike. If developers were to find solutions to problems like these or at least provide a better alternative to the current situation, this could encourage investors to become even more active within the crypto space, which can lead to a lot of positive development.
Finally, there are projects that aim to bring institutional investors to the crypto market, by solving issues that institutions are most concerned about. This is considered to be one of the most likely reasons to inspire another bull run, as institutions already have a massive interest in the crypto space. All that they need in order to join up is a bit of encouragement and a hint of progress regarding regulations, security, and maturity of the market itself.
But, even if the bull run were to arrive anytime soon, which coins might be the ones to lead it? Who might be among the top gainers? Here are 3 suggestions that might give you an idea of what to expect.
For anyone who knows the crypto market even a little bit, it is of a small surprise that Bitcoin is included into this group. Despite all that happened to the largest coin, it is still the most dominant one, with more than half the total crypto market cap being owned by BTC. Bitcoin is one of the coins that everyone wants to see succeed. It has started the crypto trend, it led it ever since, and it was always the first, the largest, and the most influential.
Furthermore, a large part of businesses that do work with crypto tends to choose Bitcoin. Exchanges do it, stores do it, service providers do it. In time, they will open up to other coins, but for now, BTC is unique even among the cryptocurrencies. The coin has also shown that it has the potential to be massive, with its current all-time high being slightly above $20,000. This is something that BTC will undoubtedly regain, and even exceed in due time. All it takes is a bull run to take it back to those heights once again.
Right now, Bitcoin has a price of $3,681, which is its lowest in 2019 so far. While a further drop has been expected, and will likely take BTC to an even lower price, many analysts and experts remain bullish, expecting BTC to rise up as a continuation of its cycle, likely at some point during the current year.
Next, we have XRP, which is currently the second largest cryptocurrency in terms of market cap. XRP has come a long way in 2018, from accusations of being security, through lawsuits and suspicions of being centralized, it finally arrived at a point where it sees positive progress. Finally, controversies are being forgotten, and XRP is mostly talked about as the most popular coin among banks and financial institutions around the world.
This is due to the banks’ desire to improve their systems used for international payments, which are considered to be old and outdated by today’s standards. If we can send instant messages and emails around the world, why not instant payments as well? So far, traditional payment systems needed several days for any transaction to go through, but through XRP, and with the help of products created by XRP’s parent company, Ripple, this problem can become a thing of the past.
Ripple’s products can only send money in the form of XRP, and financial institutions are seemingly quite impressed by this technology. Because of this, we do not only have a confirmation that XRP will stay relevant, but also that it will grow as it gains more users. Traditionally, XRP has always had a pretty low price when compared to giants like Bitcoin, or even Ethereum. However, it is up there with them when it comes to market cap. In fact, it just overtook Ethereum’s position for the third time in the last six months, showing that the coin is very much alive and that the next bull run might bring its price to completely new heights.
Finally, there is TRON. This is, without a doubt, one of the coins that have managed to make the most progress during the previous year. While its price may be low right now, TRON may be the coin that received the most coverage from the media, and the coin that has entered the largest number of partnerships, exchanges, and alike.
Additionally, TRON is always talking about its goal to decentralize the web. However, unlike others who set up large goals and then simply stay in place, never achieving them, TRON is actually making moves towards it. Its development and business moves are making the coin more and more relevant with each new project, listing, partnership, or dApp.
And, while many are blaming TRON’s popularity to the hype alone, it can’t be denied that this coin has connections and value, even if it has yet to be added to it in an obvious way. Still, that is what bull runs are for, and hopefully, the next one will see TRON rise to new heights, and maybe even join the top of the top coins.
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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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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
Calculate your total gains…
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