Cryptocurrencies are growing in popularity. The Crypto Technical Prediction for 2018 is for Cryptocurrencies to have 1,000% growth by the end of 2018, 10,000% growth by the end of 2020, and 100,000% growth by 2022!
Initial Coin Offerings (ICOs), known as crypto-token sales, are quickly becoming a powerhouse of venture capital funding. ICOs create a framework in which investors get an opportunity to invest in a start-up’s project through the sale of digital tokens. The start-up then uses the raised money to create its products and repay investors.
Even with all the excitement surrounding cryptocurrencies, plenty of people still wonder what crypto trends are on the horizon for the near future. Without the continued hype around cryptocurrencies, their technology would simply die out, but crypto’s popularity shows no signs of slowing. Now that it’s easier than ever to buy cryptocurrencies, people are catching onto the idea-in fact, the number of cryptocurrencies has skyrocketed in the past year.
But cryptocurrency is a wild ride. Most people are already well aware that half of 2017’s market cap was lost in December. Still, the bigger picture is that cryptocurrencies and blockchain systems have been in steady decline since January. (The decline is more pronounced for the largest cryptocurrencies: Bitcoin, Ethereum, and Ripple are all down at least 50%.) The $1.5 trillion market cap of cryptocurrencies in 2017 is a fraction of the $18.6 trillion market cap of the stock market in December 1929, just before the Great Depression.
Bitcoin
The decentralized cryptocurrency was originally called Bitcoin. It’s now called Bitcoin SV (BSV). The cryptocurrency was created under the “Satoshi Vision” and is not to be confused with the other Bitcoin abbreviation, BTC. A non-custodial, peer-to-peer electronic cash network, BSV supports instant transactions, much lower fees, and infinite on-chain scaling. BSV comes as good news for businesses. Unlike traditional currencies, Bitcoins aren’t printed, like dollars or euros, but rather are created through a complex series of mathematical processes.
The cryptocurrency is maintained by a network of users called miners. These processes require electricity, and recently, Bitcoin mining has become so lucrative that hydropower companies are creating new power plants specifically to cater to Bitcoin miners. Since its release in 2009, BTC has grown rapidly in popularity, with prices more than doubling over the last six months. Bitcoin can be used to buy a variety of items, including computers, music, and gift cards. It can easily be converted to real U.S. dollars, making it a popular way to invest, as well as a way to pay for goods and services.
Bitcoin has been in the news a lot lately, with headlines proclaiming that it’s finally “going mainstream.” In fact, Bitcoin’s price has been in free-fall for much of 2018, dropping from nearly $20,000 at the beginning of January to $6,200 as of November, but Bitcoin devotees aren’t giving up on it just yet. Many believe that Bitcoin’s future is bright and that its price will soon bounce back as it has in the past. The Bitcoin price is notoriously volatile, but this much is clear: Bitcoin is here to stay, and it’s not going anywhere just yet.
NFTs
NFTs, also known as non-fungible tokens, are cryptocurrencies that can be used just like real cash. Usually, they are created through digital creation systems, and unlike Bitcoin (BTC) and other major altcoins, NFTs are unique. Take, for instance, NFT Diamonds. They are known to be distinctive and have a lot of value attached to it! Hence, they happen to be in demand in the current time.
In other words, NFTs, or non-fungible tokens, are a key feature of the NFTs blockchain. Those interested in this can look about it on the Internet, where one can also source information regarding the top trending NFT today.
Keep in mind that learning about NFTs prior to making any investment is crucial. This can help individuals in more than one way. For starters, it can help people to avoid potential pitfalls and frauds associated with it.
That said, the NFT concept was originally conceived for the world of video games; for instance, you can look for nft racing websites where you stand a chance to win new tokens and improve your collection. Moreover, NFTs have also adapted for other uses and can be now used in the collectibles market for trading items such as comic books, action figures, and other memorabilia. They can also be used for tracking and legitimizing ownership of works of art.
While NFTs are certainly revolutionary to the world of crypto, it is often difficult to determine whether or not a token is truly NFT. This is true even within the crypto community, where some users may not even realize that the token they’re holding is not NFT.
