Trying to predict the market conditions and the overall improvement in the Blockchain Technology and Cryptocurrencies for the year 2018

The cryptocurrency market was potentially started in the year 2009 with the invention of Bitcoin, the most popular and first cryptocurrency of all time. The cryptocurrency market is highly susceptible to fluctuations and is also the most unpredictable one. A number of instances have been evident that the cryptocurrency market went against the predictions. Also, it is very difficult to expect a better market of the cryptocurrencies for the year 2018 since almost until now most of the cryptocurrency coins have been experiencing a bearish trend.

It is clearly evident, that the year 2017 was booming for the cryptocurrencies as they made the top headlines of each and every news media. All the Advisors and the enthusiast were having an unwavering belief in the cryptocurrency which made the companies even more difficult to adopt it. The blockchain technology along with other currencies are being observed to be vehement in their actions.

A number of attempts have been made in order to get a picture of the cryptocurrency market for the year 2018. In fact, in March 2018 South Africa hosted the International Blockchain summit in order to discuss the cryptocurrency coins, related issues and also to provide a feasible solution to those problems. The Summit was attended by a large number of experts and professionals from all over the world.

Naomi Snyman, the Blockchain direct at Standard Bank, expressed opinions with regards to the Blockchain Technology. She is of the opinion that the blockchain technology is very similar to any other traditional techniques. She made it very clear that Blockchain Technology is not a magic wand to solve all the business problems automatically or neither it is a Golden Goose to lay Golden Eggs. She continued that at present they must be concentrating on solving the scalability issues of the Blockchain Technology and also to change the proof of work concept.

Another speaker at the Summit, Lorien Gamaroff, the CEO of Bankymoon was found praising the Blockchain technology and told that it proved to be one of the most efficient ways of cross-border remittances and also to transfer the currency from one part of the world to another in a very simple manner. He also made it very clear that the capital controls were the only factors that were coming in the way of transferring the cryptocurrencies. He even thinks that in future, there might come a time where the Fiat currencies will become completely obsolete on coming face to face with the decentralized cryptocurrencies.

In short, the market capitalization of the cryptocurrencies is estimated to triple in the following year. A number of cryptocurrency investment products may be expected at the retail stores. Two major cryptocurrencies Bitcoin and Ethereum will be leading with the discussion about scaling the Blockchain Technology with either on-chain or of-chain scaling. As the regulation on the cryptocurrencies is estimated to be tightened, Initial Coin Offerings will also suffer the change and only the major stable ICOs will be sustained and thereby be consolidating the ICO market.

The future of the Initial Coin Offerings doesn’t seem to be that stable. the projects and the businesses are adopting them for the fundraising and they are gaining a lot of investments due to the only reason that blockchain technology is the trending topic of the time. But in future, this will not be the case as the businesses would be able to raise enough funds if and only if they have a scientifically sound business model which is able to sustain the economy.

It is very obvious that the future of the financial system is going to be completely digital and online with negligible or no paperwork. So how can we expect that the major Central banks around the world would just be sitting and twiddling their thumbs and wait for the blockchain technology to completely destroy them? So an intelligent mind would be expecting the central banks also to announce their own blockchain or cryptocurrencies in order to keep up with the pace of the technology. The year 2018 is going to make the cryptocurrency market even stabler has a number of customers or investors would join the blockchain network.