Where is the cryptocurrency industry headed in 2019?
To get a sense of just how troubling 2018 has been for the cryptocurrency industry, one need look no further than bitcoin (BTC). Heading into 2018, bitcoin traded for close to $13,500 after reaching an all-time high of $19,783.06 in December of 2017. At the time of writing, bitcoin is selling at $3,400, a loss of about three-quarters of its value — and other digital currencies aren’t faring much better. Ethereum, for example, fell from an early-year high of $1,300 to $91 as of Dec. 17, 2018.
But cryptocurrencies like bitcoin and ethereum are hurting on more fronts than value alone. Investor interest in digital currencies has waned dramatically in recent months. Many early investors who were eager to make gains from the ‘cryptocurrency craze’ have since moved on to other ventures, leaving a smaller group of stalwart HODL-ers behind. But there are still reasons to believe that the cryptocurrency industry has some fight in it left. By some measures, institutional interest in digital currencies has actually increased over 2018. At the beginning of the year, investors asked how high digital coins could fly. Now, looking into 2019, the better question might be how this space will adapt in order to survive.
To read more, please click on the link below…