We all know that the crypto market is not off to a good start so far this year. Most of the markets lost their value during the first few weeks in January – and February is not as hopeful as many would expect. The most recent dip has also pushed the momentum for Bitcoin and altcoins back.
However…
Good news are coming from analysts. According to some of them, this year will be bullish for many cryptocurrencies in the long run – especially Bitcoin. As they say, Bitcoin may see some big gains – as it showed some good momentum this week.
There are still a few reasons to why things may turn out for the better for the leading cryptocurrency. As Julian Hosp (an analyst says), things can improve quite a bit thanks to the scaling solutions coming to the ecosystem. One of them is Segregated Witness that is now enabled by default through the Core client. The other one is the Lighting Network, which if implemented, also has a fair chance to succeed and take advantage of the technology behind Bitcoin.
The only challenge that remains for many is the Bitcoin transaction cost that is over $20 – which is far from ideal. Moreover, solving this problem and making it cheaper is not all that easy. However, with SegWit and LN the fees should eventually come down over time.
When it comes to other cryptocurrencies and ICOs, 2018 has been good so far. We have seen some regulation in some countries. So far, the initial interest is rising and the volumes are picking up nicely. In the end, it remains to be seen if investors effectively show the real interest in cryptocurrencies.
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