Cryptocurrencies have been struggling across the board lately, leading many critics to decisively deride these digital assets as being doomed to inevitable failure. Despite the fact that some of the market’s leading cryptocurrencies have been putting up lackluster results lately, however, there are still plenty of reasons to be optimistic about the digital currencies which are rapidly taking the world by storm.
Here are some of the reasons that cryptocurrencies can be expected to rally by the end of 2019, and what the proponents of popular tokens are doing to bolster their economic potential around the globe.
We’ve been here before
Investors who are thinking about dabbling with cryptocurrencies are increasingly getting cold feet after reading a few news articles highlighting the plummeting value of some of today’s leading tokens like Bitcoin. Their fears are deeply misplaced, however; we’ve been here before, having witnessed sizable devaluations in cryptocurrencies countless times in the recent-past, and history has shown time and time again that cryptocurrencies, though down, are never truly out. That’s because a myriad of investors and everyday consumers around the world are rapidly adopting cryptocurrencies in all spheres of life.
While cryptocurrencies were once a relatively elite investment that few people outside of the tech or financial world cared about, they’ve since become democratized. Consumers around the world are flocking to popular tokens like Bitcoin for everyday shopping purposes, leading small-time merchants and sizable businesses alike to accept cryptocurrencies in greater numbers. Despite the fact that cryptocurrency and the tech driving it forward are still in their infancies, it’s getting easier by the day to use these digital tokens to make regular purchases, which is excellent for their long-term potential in the market.
Regular consumers aren’t the only ones keeping alive the hopes of cryptocurrencies for future years, either. Once lukewarm on the idea of cryptocurrencies, major banks and financial institutions are beginning to warm up to everyone’s favorite digital tokens in greater numbers. For the most part, it’s because they realize the long-term potential most of these currencies hold, as they realize that they can become monstrously wealthy by pioneering the new wave of currency. Some of the world’s biggest banks have already embraced the idea of banding together to create their own cryptocurrency.
This is a monumental shift in the future of cryptocurrencies. By and large, these digital tokens have remained a relatively niche product for investors who have a passion in the technology driving them forward. These days, however, there are reasons to believe that dispassionate investors are starting to realize that they don’t necessarily like cryptocurrencies like Ethereum or Bitcoin, but they may have been wrong in their estimations or could nonetheless cash in by investing in them.
What to look for by the end of 2019
If cryptocurrencies are going to rally by the end of 2019, however, a number of key events need to take place. First and foremost, market leaders like Bitcoin, who draw immense amounts of media attention to their valuations and to the broader health of the crypto-market, need to start putting in better performances to regain the public’s confidence. With virtually every shopper in this day and age flocking to digital platforms more and more, this won’t be too challenging if investors and the proponents behind these major currencies leverage their current positions properly.
Bitcoin’s investors and speculators have been holding steady over the Summer despite recent negative trends precisely because it and other currencies riding on it coattails can be expected to soon bounce back in the way that they always have in the past. With the holiday season and its associated spree of spending rapidly coming around the corner, too, we can expect investors and everyday shoppers interested in these tokens to soon finally reveal their hands and engorge themselves in a crypto-frenzy. Today’s leading digital tokens are slowly developing valuable reputations for themselves, too, which is helping put an end to their rampant volatility which turns off so many investors.
Fundamentally, however, the reason that cryptocurrencies will rally by the end of 2019 is that consumers and financial institutions alike are fed-up with traditional ways of doing business and are beginning to scout around for a change of pace. Cryptocurrencies offer them the kind of escape from the norm that they’re looking for, enabling consumers to make purchases large and small alike in a confidential, secure, and easy-to-master process. More than anything else, this is the reason that everyone’s favorite digital form of currency will inevitably rally and recover from its current woes. Don’t take the bait on Bitcoin and other cryptocurrencies when critics assert they’re finally collapsing. We’ve been here before, and with financial institutions finally starting to take today’s leading cryptocurrencies seriously, there’s little doubt they have a huge potential to rally and soar by the end of 2019.