Can We Expect Continued Growth In Cryptocurrencies For Year 2018?

As well as know, the explosion of the cryptocurrency market was one of the most noteworthy events to happen in 2017.

Investors were certain to let their message be heard that the crypto market is here to stay, with it being felt by companies and financial institutions across the globe. But there is a downside to something as disruptive as cryptocurrencies: its future is hard to predict.

In order to see how Bitcoin and its derivatives will effect the marketplace, South Africa is planning to hold an event in March of 2018. This summit will involve discussion between leaders and analysts to speculate on the future of this new, electronic currency.

“It’s important to realize that the blockchain should only be seen as a tool. It is not a device that can print money, or something to magically fix a company’s problems,” stated Naomi Snyman of Standard Bank, who will be speaking at the event in South Africa.

“But it’s time that the crypto community moves on from proof of concept to getting the blockchain in the hands of brick and mortar businesses.”

Another speaker at the proposed summit, Lorien Gamaroff, who is the CEO of Bankymoon, said that cryptocurrencies could lower the price of international bank transfers. Gamaroff also speculated that the coins may enhance the user’s convenience in holding and transferring their funds.

“The strict controls and fees used by banks is just another fact that’s driving the price of cryptocurrencies. We could be seeing the start of fiat monies being considered redundant in the wake of digital tokens,” he said.

A partner at The Creative Counsel, Ran Neu-Ner, doesn’t appear to be phased by the volatility of the cryptocurrency market, nor its disruptive nature. In fact, he expects the development of the blockchain to develop and continue its astronomic growth:

“Decentralization is the heart of the blockchain, and it’s often the first thing which comes to mind when speaking about virtual currencies. After all, if something is centralized, or controlled by one entity, how likely is that to be interrupted? Unlike the traditional currencies, everyone’s a leader in the space of virtual currency, and each gets their appropriate share of tokens in return.”

Here are a number of other market predictions for 2018:

• The value of cryptocurrencies will triple in value.
• Investment vehicles, or even an exchange fund, could significantly increase the price of the coins overall.
• Bitcoin and Ethereum will continue to be leaders in the space of crypto, including the improvement of both on-chain and off-chain scaling capabilities.
• Initial Coin Offerings (ICO) will become heavily regulated, with only a few of the most respectable startups left standing.