5 Things Crypto Industry Should Discard In 2019
Over the past ten years, the crypto industry has seen numerous developments and technical advancements while some things still remain the same.
2018 was an interesting year, to say the least. Fresh from the highs of December 2017, the market lost the majority of its gains. The regulation became the main theme of the year while taxation and KYC procedure maintained their strong presence throughout the year. The participation of institutional investors gathered huge limelight while Buidl, Dapps, and Stablecoins kept the market going.
Now, 2019 seems to be up for more excitement. However, there are a few things that the crypto market can do without.
No More Shilling, Please!
One of the trends that took the center stage on social media platforms is paid shilling. This all started or to be more accurate became more prevalent when ICO industry was at its peak. Promoted content is part of almost every kind of industry but lack of transparency hampers the mainstream adoption of cryptos, especially when it is still a niche sector. Putting a rein to aggressive and excessive shilling can put the focus on more value for all the parties.
ETF Had Its Limelight, Let’s Now Move On
Bitcoin ETF will skyrocket the Bitcoin price. Maybe or maybe not.
Bitcoin ETFs can be expected to have a huge impact on Bitcoin and the crypto market by extension. This year just might as well see more development in this aspect. However, it’s time that Bitcoin ETFs should be given some space. The focus needs to be put on the development of the market as these investment vehicles are for institutional investors that will, to a part, lead to more price speculation.
Institutional Investors’ Craze
Yeah, that’s right. Institutional investors will enter the market and huge money will pour in and yadda yadda yadda.
It’s been ten years since Bitcoin has been in existence and during this time Bitcoin has achieved its all-time high only to crash down to its bottom without the intervention of institutional investors (at least explicitly). These billion dollar organizations won’t be taking any impromptu steps but carefully planned and analyzed maneuvers that would be made in their own due time.
Pump & Dump: Price, Price, & Price
Price is the integral factor of the crypto market that maintains the excitement and commotion in the market. Users buy cryptos at low prices only to dump them onto new spectators for quick bucks. About thousands of pump and dump groups have been found by researches and these cycles only keep the industry away from achieving sustainable growth. The efforts need to be put on the adoption while focusing on building and creating solutions.
The market is also rife with the likes of Nouriel Roubini. Well, they won’t be going anywhere. But it’s time we better shift our focus and not acknowledge these people who would rather rant about the dooms and glooms of technology and bash what they don’t understand instead of learning about its potential. The market needs educated arguments for the improvement of the crypto industry.