It’s unrealistic to expect a quick recovery after such correction. The general public sentiment on the market is still negative, and that’s not going to change anytime soon. Most people think they know a lot about Bitcoin and cryptocurrencies, while in reality, that’s simply Dunning-Kruger at its best.
Hopefully, this year the market price will level out and we won’t experience crazy downside movements anymore. However, this is also the phase where smart money begin to accumulate, so there are plenty of opportunities (if you’re patient enough). Think about it - would you rather enter the market when the Bitcoin was at its all-time highs or recent lows? Most people with large bags of money will choose the latter any day of the week.
Meanwhile, don’t let the price distract you from what’s important. There are still many things to be excited about in 2019. The ecosystem is growing at an enormous pace and will bring about great unprecedented things eventually. Learn more about blockchains and distributed ledger technology and be woke while the others are asleep.
Some of the things to be excited about in 2019 are:
- New cryptocurrency-linked products and services.
- New interactive and exciting dapps.
- More regulatory clarity.
If 2018 is any indication about the future of Bitcoin and other cryptocurrencies, 2019 will prove to be a challenging year for investors and technologists. Between the financial turmoil and acrimonious technological debates, are there any opportunities within this emerging field for entrepreneurs and idle capital?
Bitcoin opened 2018 with a bang at $13,290 and will probably close this year at about $3,800. This represents a 72% loss overall. By comparison, the Dow opened the year at $24,824 and will likely close at about $23,300. This represents a 6.2% loss overall for traditional investors.
Within the broader altcoin market, all other coins have suffered a loss. Ripple declined from $2.23 to $0.35. Ethereum went from $760.06 to $137. Bitcoin Cash forked again, and both coins have suffered a decline. Bitcoin Cash ABC went from $2,443 to $158.48 and Bitcoin Cash SV went from $2,443 to $86.65 – a staggering 97% loss. Rounding out the top 5, newly launched EOS went from $8.83 to $2.62.
Bitcoin supporters have noted that during this year, the lightning network upgrade has expanded greatly. As noted by Jameson Lopp the lightning network has grown to just a few channels to more than 15,000 and to more than 500 BTC available.
I'm just happy crypto has proven it is here to stay. I don't mind if it is rough year in terms of price as long as stuff keeps getting built and gets built faster when devs aren't worrying about on boarding millions of new users a day. Plus there is the bonus of being able to possibly buy/earn more at lower prices.
And if it isn't a rough year price wise, even better. Win Win.
2019 more and more development in cryptos are going to take place and so are the think tanks in the govt. about regulating them.. it will face a rough patch intermittently but overall it will be a better than 2018 year.. as the understanding and acceptance of the technology and concept gains further...
Bear market may be over. but we are not going to see any 'major' gains, or start of a new uptrend anytime soon.
Recovery will take a lot of time, and there will be a long multi month accumulation, or sideways trend, which I expect to last till mid 2020, before we can see any uptrend.
A crucial thing to watch out for:
Bitcoin Halving .... Dont forget this. Ever....! this can be a major factor in puming up the market violently and suddenly.....
The prices went down already too much, if you remember the ETH was $1.350 only 15 months ago. I wouldn't say that there would be no more decrease on prices and the bull run needs to come..
I think this year will go with problems, just like what we had in 2018.
I think cryptocurrencies will slowly climb towards the end of 2019 for a nice bull run to start 2020 as there is a Halving of bitcoin happening in 2020 of may and that's always a bullish scenario when the mining rewards are cut in half.
cryptocurrenciesc continueto remain a trend in 2019
Year 2018 was a very rough year for cryptocurrencies. This year might be a little better, but we shouldn't expect better performance. Imagine, you committed huge fund in a business. You had hope that the business would be successful but, it wasn't. Would you commit more money into it next year?
Maybe, this time I guess you would be more careful. The same can be applied to cryptocurrencies.