The Main Trends of 2020: What will Happen on the Cryptocurrency Market?

The Main Trends of 2020: What will Happen on the Cryptocurrency Market?

In 2019, blockchain and cryptocurrencies became the focus of the attention of key politicians and representatives of the global elite, and this is a sure sign that the innovations everyone is talking about will truly transform the life of mankind. The has prepared for you a detailed overview of the main trends of 2020 in this industry.

Bitcoin’s price will increase

It seems that after the recovery of the previous year, BTC will manage to grow again, and this can be connected with a reduction in the remuneration of miners (with halving) in May this year. If now miners receive 12.5 BTC (about eighty-seven thousand dollars) for adding each new block to the blockchain, then in May, it will decrease to about 6.25 BTC. This reduction happens every 210,000 blocks (approximately every four years). The previous halving occurred in July 2016, when the remuneration fell from 25 BTC to 12.5. In that period, Bitcoin was not so popular and was being traded at around six-seven hundred dollars. If some do not doubt that the effect of halving is already in the current price, others are sure that the demand for BTC will even increase after this.

Ethereum’s price will decrease

Probably, the current capitalization of the Ethereum of $14 billion is not entirely justified, given that it made many investors expect for something more than just digital money. The creators declared Ethereum a decentralized Internet where P2P platforms can thrive without corporations. Ethereum should have changed everything from file storage to lending markets. There are a lot of disappointments. Except for a traded digital currency, Ethereum did not introduce anything. However, if we have Bitcoin, why do we need another one? It seems that the serenity of Ethereum should end sometime if something extraordinary doesn't happen.

Stablecoin Libra will not be launched this year

Facebook is unlikely to launch Libra this year, at least in its originally promised format. Do you really believe that Facebook will launch digital currency this year when the presidential election will take place in the United States? Facebook has already tarnished the reputation having demonstrated that even without much planning the company can become involved in the blockchain technology and literally tickle the regulators ‘ nerves, forcing them to focus on big technologies. If there is some progress regarding this company, then, apparently, it will be less associated with digital assets and more with the traditional type of finances – something like a Facebook debit card. Besides, the well-known company is likely to focus on such things as WhatsApp Pay.

Digital yuan’s experiments

Apparently, this year, in China, the digital yuan will be introduced to the public. The country has been working on this project for several years now, and it should be introduced soon. There may not be a full deployment, but there will be trials among corporate partners. Overall, it is possible to conclude that the country's efforts might change the balance of financial forces in the whole world.

Many blockchain projects may be put on hold

The collapse of the blockchain technologies industry is something that newspaper headlines have not shouted about yet. The projects in this field do not have enough money, and many will become fed up with it. How long are programmers and managers ready to work on something that no longer draws on people? Or does all this simply not make sense? This year, many blockchain developers, researchers and marketing experts can refocus on other more interesting projects.

If you are interested in cryptocurrency and blockchain – at, you can find out the latest news regarding this industry.