Surviving the Bear Market #3: Adoption
Welcome back to our blog series of How to Survive the Bear Market.
Over this series we’ve taken a fresh look at the downtrend in cryptocurrency prices, learning that it may not be as gloomy as it first might seem. First, we saw that bear markets are an opportunity in themselves, both to make profitable trades and to grow your crypto holdings. We then saw that despite the drop in prices, cryptocurrency development has never been more positive, with thousands of developers working to bring this new technology to life.
Today, we’re going one step further, examining the one thing that is set to signal the reversal of the bear market, and is expected by many to catapult cryptocurrencies to unseen highs. Adoption.
As many pundits have pointed out, 2017 and 2018 were pivotal years, introducing cryptocurrency to a large retail audience. The fact that’s often overlooked today however, is that this development pales into insignificance when compared to institutional adoption.
The good news is, institutional adoption is well underway, and cryptocurrency visionaries such as Mike Novogratz are predicting 2019 to be the biggest year for this new technology to date.
One topics that has been talked about a lot, is BAKKT, which is set to provide institutional players with a seamless method of obtaining digital currencies, backed up by a secure legal framework. BAKKT, developed by the same company that launched the New York Stock Exchange, is just one of the huge developments expected in 2019.
The efficiency benefits of blockchain technology are now clearly understood by institutions, and with clearer frameworks being developed to allow them to participate, 2019 is set to signal the end of the year long bear market.
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