2020 seems to be an exciting year for crypto enthusiasts. From events like Bitcoin halving to the launching of Libra by Facebook some great and promising events are going to happen that might change the future of cryptocurrencies and its use all over the world.
When it comes to predicting the future of cryptocurrencies like Bitcoin, it is not so easily predict the future outcome, and we see a lot of speculations being made. Interestingly when Bitcoin was launched the market regarded it as a “Bubble” that will eventually burst. Over the years Bitcoin has seen several downfalls, but it never reached to zero.
Top Cryptocurrencies to Look for in 2020
Since Bitcoin was launched it never really faced severe competition in its early years. As time passed, we saw one of the most significant advancements in cryptocurrencies and blockchain, i.e. Ethereum.
Its impact was so big that some analyst say that it might become equivalent to Bitcoin one day, but it is too early to say so. One thing that makes Ethereum unique and advanced is the dApp platform that allows new apps to be built on it.
If we summarize the key features that make Ethereum equivalent or even better, then Bitcoin is things like the use of smart contracts and advanced technology to ensure safety and security.
As of writing this article, one Ethereum has a value of around 143 USD and according to the analyst price increase is expected in the upcoming year.
When it comes to cryptocurrencies, there are a lot of them that were introduced after Bitcoin, but Bitcoin always enjoyed the advantage of being the first one in the market. The investors who want to play safe still trust in Bitcoin.
In recent years Bitcoin has gained a lot of popularity as many multi-national businesses have started using it as a payment method despite the risks and issues of rules and regulations.
If we look back at 2019 in the mid of the year, the currency reached at its one of the highest points after several years.
Also, the word “stable” might not be too appropriate to associate with Bitcoin, but we have seen a fairly better and stable trend of Bitcoin value in 2019. A lot is expected from the currency in 2020.
Litecoin is one of the top cryptocurrencies that don’t have much value, but analysts are hoping that it could become a valuable currency in future. Investing in Litecoin could prove to be vital as analysts have observed that its technical preconditions could make it a global transaction network in the near future. Also, the risk factor is less as compared to Bitcoin or Ethereum.
Top Cryptocurrency Events and Trends of 2020
One of the most important events of the upcoming year regarding Bitcoin is the Bitcoin Halving that is supposed to take place in May 2020. The current reward value (as a result of successful mining) is 12.5. After the halving, the reward value will be reduced to 6.25 BTC.
One of the major factors that determine the value or worth of Bitcoin is the market concept of supply and demand, over time as the number of Bitcoins produced by the network is decreasing we might see Bitcoin reaching its all-time high in upcoming years.
But as the mining process is getting expensive and time taking, we might see that fewer people become interested in the mining process, which could also prove one of the factors in deciding the future of Bitcoin.
Libra by Facebook
After Ethereum, one of the major advancements that could disrupt the complete cryptocurrency and blockchain market is Libra. In recent years Facebook announced that they are working on their own cryptocurrency that they called the Libra . Facebook wants to make it a digital global currency that is as easy to send an instant message over the internet.
The project is planned to be released in 2020, but currently, it is facing a lot of backlash and criticism from the US government who doesn’t want Facebook to launch the Libra. One of the major reasons behind this is recent data scandals that involved the misuse of user data. The project might get delayed, but if it is released in 2020 as planned, we might see a completely new trend in blockchain and cryptocurrency networks.
Involvement of Governments
One of the biggest missing pieces in crypto puzzle is the role of governments in the cryptocurrencies. So far there hasn’t been a clear stance in most of the countries. In some countries it is legal, in some, it is restricted, and few countries have completely banned the use of cryptocurrencies.
As the cryptocurrencies are getting popular day by day and big tech giants are jumping into it. The year 2020 might prove to be the year where we could see governments taking a clear and decisive stance on the use of cryptocurrencies. Some countries like Turkey and China are even planning to launch their own digital currencies (Enter turkey article link here) that will be backed up governments.
Should you invest in Cryptocurrencies?
In recent years cryptocurrencies have proved to be an important investment asset, and a lot of people are making investments in it. Cryptocurrencies are risky. It is important to do research and market analysis and then make investments accordingly to lower the risks as much as possible.
Where could you Buy Bitcoins?
So if you are interested in buying Bitcoin or other major cryptocurrencies online, there are various options available. If you are from Dubai or Turkey, one of the easiest ways for you to buy Bitcoin is using coinsfera.com.
- Go to coinsfera.com
- Enter the amount (in $) you want Bitcoin against. The interface will show instantly how much Bitcoin you will get and vice versa.
- Hit the request Button, and a form will appear that will ask for basic details.
Submit your details and leave the rest to us.
The Bottom Line
The years 2020 seems to be an exciting year for the crypto world. There are a lot of events and trends that you could follow. When it comes to making investments, you should follow market trends and make timely decisions to gain maximum profits from your investments.
We hope that you liked over coverage of upcoming events of 2020. Which event are you looking forward to in 2020? Let us know!