Saturday, February 2, 2019

Challenges for Bitcoin and Altcoins 2019-2020

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The year 2018 has come to an end, and analytical structures are starting to build their forecasts, trying to predict what challenges the leading coins of the cryptocurrency market can face. Expert estimates vary, but most of them agree that difficult times for bitcoins and leading altcoins can be. According to the conducted research, the next two years may become the most critical for currencies. Already, there is a steady downward trend in Bitcoin transfers by several tens of thousands. The volume of dollars that are transmitted through the blockchain has dropped to several hundred million dollars, then, at the beginning of the year it was more than three billion. Analysts are afraid of that in the next two years the volume of transactions may fall to critical values.

In this case, it will cause a sharp drop in demand for cryptocurrencies themselves and a decrease in their total capitalization to the minimum values. Therefore, optimistic statements by a number of traders that bitcoin and alt-coin will increase in value several times may turn out to be groundless.

Another challenge that leading coins will have to face is the increasing attacks of fraudsters on cryptocurrency exchanges. Until now, many of them do not have effective protection against hacking, especially in Asia, where the greatest number of attacks is recorded. As a result, users lose tens of millions dollars and begin to doubt whether it makes sense to work on the crypto market. In the event of a massive attack on leading crypto exchanges, bitcoins and altcoins, they can be in a very vulnerable position. Because of the panic, investors will begin to get rid of them, and they will return to their original state. Bitcoin and altcoins will be of interest only to gamers and those who use them for the Darknet network.

The threat is also the fact that it is Darknet that is beginning to capture an increasing number of the network segment, where cryptocurrencies are an ideal means for secret transfers. If regulators find this unacceptable, then the most severe measures can be taken to regulate the entire cryptocurrency market and then the coins will lose their attractiveness in the eyes of the participants and their capitalization will drop sharply.

As a result, it can be said perhaps Bitcoin and Altcoin will be able to survive all the challenges that await them in the near future, but one thing is clear, the crypto market will be completely different than we know it now.


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