2018 was very much a mixed year for the world of cryptocurrency: Earlier surges in Bitcoin saw a slowdown and then a plunge as many investors felt that it had reached a peak. A ban on advertising and other adverse publicity also added to the negative press but there were some positives.

New currencies were introduced while Bitcoin, and others, continued to make inroads into new industries. With 2019 now upon us, the obvious question to ask is whether we will continue to see mixed news updates in this sector or will the new year be a largely positive one?

 

Advertising Blow

 

Google is clearly an important advertising portal for any industry so it would have been a blow for certain operators when, in May 2018, it was announced that the world’s most popular search engine had chosen to ban any ads that appeared to punt crypto.

Facebook had taken a similar stance on a previous occasion and when one considers some of the ads involved, it is perhaps easy to see why. The idea of investing in cryptocurrency as a ‘Get Rich Quick’ scheme is not one that many in the industry would endorse but to an extent, those peddling this type of theory have given the remainder of the sector a bad name.

This was a blow and sadly this type of advertising can still slip through via a slightly more covert message. There are genuine and positive uses for crypto but Google is hard to persuade at times and this all-encompassing ban was the low point of 2018 as far as the industry was concerned.

 

Fighting Back

 

More bleak news came with the crash of early 2018 or, as some industry experts are calling it, the Crypto Winter. Around 65% was wiped off the value of Bitcoin and naturally this effect was huge for those who had been stockpiling it as some form of investment.

Many thought that the value at the end of 2017 was, however, artificially high and that at some point Bitcoin and other cryptocurrencies simply have to level out. A recovery of sorts was subsequently seen over the end of the year and 2019 starts with a more positive look to the future.

 

What’s Next?

 

At the start of 2019, the current list of cryptocurrencies includes Bitcoin. Litecoin, Ethereum, Ripple, Dogecoin, Dash and many, many more. It’s perhaps unsurprising that the average consumer may feel confused and businesses unwilling to accept crypto with such a confusing landscape.

Talk of a move to one true non fungible tokens list has been with us for some time and there are some isolated reports suggesting this could happen in 2019. That seems unlikely but there are genuine hopes that this year will see something of a settling down period in terms of new currencies coming on board.

The flood of new boys is expected to slow to a trickle at best and the volatile nature of Bitcoin’s price looks to have played a major role in this. In terms of specifics, Bitcoin itself is expected to level further and there are suggestions that its potential for growth will be capped. Among those experiencing the biggest growth, Ripple is, apparently the operator to look for as it rises to challenge Bitcoin for the ultimate right to become the one true Cryptocurrency.

Volatility is a good word with which to describe crypto in 2018 and if predictions are to be believed, consolidation is set to be its successor this year. It remains to be seen whether this is true but we’re sure to be in line for another fascinating year on the markets.