Experts share cryptocurrency trends of 2019
Popularity surrounding stablecoin, Tether, will decline
Last year cryptocurrency holders, investors and creators saw the rise in popularity and importance of the Tether stablecoin, which was designed specifically to reduce the volatility of crypto. All throughout 2018, other stablecoin cryptocurrency companies, such as Gemini, Circle and Coinbase, are predicted to become more popular in 2019, thus possibly making Tether decline in popularity and usage.
Crypto mainstream adoption to accelerate with Facebook
In late Dec. 2018, Facebook announced they’re working on creating cryptocurrency for the popular messaging platform, WhatsApp. Reportedly, their cryptocurrency will be a stablecoin, linked to the U.S. dollar. This new cryptocurrency will allow WhatsApp users to send money to other WhatsApp users without leaving the platform. With almost 2 billion users worldwide, Facebook’s coin will certainly push the mainstream adoption of crypto further.
The United States will continue to attempt to establish stricter crypto regulations
The United States’ Securities and Exchange Commission (SEC) has been researching and examining cryptocurrencies for quite some time. Earlier in 2018, U.S. Rep. Warren Davidson (R-Ohio) and Darren Soto (D-Fla.) introduced the “Token Taxonomy Act” which excludes digital and crypto currencies from the U.S. definition of a security, as well as security laws. However, in the beginning of 2019, the SEC released their newest report, which stated one of their priorities is to examine crypto closely this year. Some experts believe it’s a sign of an upcoming stricter regulation.
Bitcoin ETF to receive U.S. SEC green light
The New York Stock Exchange is ready for the launch of a Bitcoin market. SEC commissioner and “CryptoMom,” Hester Peirce, appeared to have given a green light to a Bitcoin-based exchange traded fund (ETF). The Republican commissioner has frequently voted against government actions on cryptocurrency. Currently, the decision on Bitcoin ETF won’t be finalized until February.
Cryptocurrency value doesn’t seem to skyrocket anytime soon
Jeff John Roberts, a Fortune Magazine writer, believes that because 2018 was such a terrible year for cryptocurrency, there’s hope this year will be better. Roberts doesn’t believe that cryptocurrency is going to dramatically increase, but will rather slowly rise. However, Robert Hackett, a Fortune Magazine senior writer, believes otherwise. Hackett said that an increase in crypto’s value won’t come anytime soon because the hype surrounding cryptocurrency is over and there is a “lot of garbage tech out there.”