Cryptocurrencies market capitalization remained below $400 billion as we entered the first quarter of 2018. However, Bitcoin, the major currency in the market, saw the $ 6000 levels before rising again.. As it is known, the crypto money markets have been on the rise as a result of the positive talks held at the high-level senate hearing held in the USA.
In fact, experts believe that other cryptocurrencies can also make significant gains.. That’s why they say the cryptocurrency market could hit $1 trillion. Thomas Glucksmann, head of APAC business development at cryptocurrency exchange Gatecoin, said: major technology developments will contribute to the revival of the market. These developments will push Cryptocurrency prices to new highs this year.”
There is no reason why Bitcoin should not reach $50,000 in December, according to Glucksmann.. The technology that Glucksmann references, Lightning Network, is an expected technology for Bitcoin.. LN appears to be making some pretty significant strides, reaching 1,000 major payment channels.
Another possible development for recovery could be the issuance of a cryptocurrency-backed investment instrument listed on a major exchange.. While both the CME and CBOE are launching Bitcoin futures, Nasdaq recently announced that these products are “continuing to be investigated.”
As CNBC noted, there are currently no high-interest Bitcoin ETFs on the market.. An exchange-owned fund ETF lets people trade Bitcoin without having to buy cryptocurrencies. Recently, Bitcoin ETF applications had to be withdrawn at the request of the US Securities and Exchange Commission (SEC). Stating that the money market may push new records this year, he made the following statement: Although it may not reach a size that can reach the value potential of $ USD, we believe it will make similar rises.”
Tokens in the Cryptocurrencies market may experience superior price rises this year
While some experts think Bitcoin could hit $50,000, others believe the coin has no fundamental value. Another group of experts predict there could be potential cryptocurrencies that could be used to build new blockchain applications, such as NEO and Ethereum.
Mick Sherman, CEO and co-founder of data science company Hercules Tech, is above developers. He said cryptocurrencies like IOTA, NEO, and Ethereum are under their watch, as they build the platforms they work on.. And he continued:
” Useful tokens and assets with a working platform and clear reasons for needing both a Blockchain and their own Tokens are likely to increase their value this year is higher. Some of these crypto assets will not be used for years.. This means that some crypto assets do not have added value “
Sherman also said that blockchain technology is incredibly overrated.. As such, he warned he might see “a few more bubbles” before he sees “viable Blockchain-based assets.”
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