The cryptocurrency market is exciting. There is never a dull day for cryptocurrency traders. The market has its fair share of drama that makes trading in cryptocurrency much more exciting.
With just over a month remaining before Q2 of 2019 comes to an end, it is essential to reflect on the occurrences of Q2. A lot has happened in less than two months. The NYAG filed a law-suit against Bitfinex that may end up affecting the price of Bitcoin, Bitcoin doubled its price in less than six weeks, more companies announced their interest in cryptocurrencies- including hints from Nike. This article takes a look at the exciting nature of the market in Q2 and upcoming releases before the quarter ends.
Excitement is starting to build in the markets.
To start us off is the exciting story of Bitcoin’s bull run. Starting at under $3,000, it found its groove towards the end of Q1 and carried it into Q2. The transition between Q1 and Q2 saw Bitcoin’s value nearly double, from about $4,000 to $8,000. At the time of writing, Bitcoin’s value is passed the $8,000 mark and will likely surpass the $9,000 mark in a few weeks. It is worth noting that analysts have called the latest bull run, an “end to the crypto winter.”
Bitcoin’s current bull run is set to stay on course, likely hitting over $10,000 considering the quality of the run. The fundamentals have changed for the better; better technology, more coins, and a higher marketcap. It would take some really big news to stop it.
The law-suit filled by the NYAG may have enough punch to slow-down the bull run. However, we may have to wait and see how the entire scenario unfolds. Currently, the story has no significant effect on the value of Bitcoin.
Now, Bitcoin’s bull run is crucial for the market as it is the most widely known and used cryptocurrency globally. Its rise in value is likely to translate into an increase in interest by the cryptocurrency community and new players in the cryptocurrency market.
The soaring value could eventually mean an increase in the value of other cryptocurrencies, including altcoins and stablecoins. Already, other cryptocurrencies such as EOS, XRP, and LTC have increased in value during this bullish run.
Further, Bitcoin is also experiencing a rise in value as a result of the prevailing market conditions. The everyday use of cryptocurrencies and blockchain has gained interest in Q2 to the point where some tech corporations announced their interest in joining the decentralized world.
Growing Interest in Cryptocurrency and Blockchain Technology
The fundamental has picked up pace this year.
Blockchain platforms are leaps and bounds ahead of where they were a few years back. It, therefore, comes as no surprise that mainstream corporations are now becoming more interested in technology. Platforms have improved significantly making transactions faster, reliable, and cheaper.
The technological milestones taking place in the blockchain space has influenced the desire to implement blockchain and cryptocurrencies in some of the major corporations. JP Morgan, Fidelity and Facebook are among the notable corporations taking a keen interest in blockchain technology and cryptocurrencies.
Tech companies such as Facebook made significant blockchain related announcements in Q2. Project Libra and FaceCoin are now familiar names in the blockchain community because of all the traffic they commanded in Q2. More people are keen to see what mainstream companies will produce in the blockchain space.
In addition to growing interests in blockchain, there are also new jobs being created in the cryptocurrency space. As more tech firms embrace blockchain technology, new positions are opening up. Demand for legal counsel, blockchain developers and engineers is increasing as new blockchain firms open up and existing ones improve.
Upcoming Projects
Q2 has also had its fair share of blockchain and cryptocurrency-related announcements. One of the most exciting announcements is by Block.io. An entire website has been created for this one announcement set to be made within Q2, likely at the beginning of June. Both big and small announcements have found their way onto notification panels worldwide.
These announcements range from the release of new products to simple updates of existing platforms. Among the highly anticipated statements made are on the release of mainnets. Many companies are moving their operations to their mainnets to serve their users better.
Chainlink (LINK) is one of the companies preparing a mainnet move in Q2. The move is set to improve the operations on LINK; however, anticipation for the mainnet has caused undesirable effects, with a loss in value of LINK being witnessed days before the release of the mainnet. It will be interesting to see how the release of the mainnet will pan out.
Another platform that is set to release its mainnet is Aelf. Various sources indicated that the mainnet launch would happen at the end on Q1. However, the latest release on Aelf’s platform is the Aelf Enterprise.
https://twitter.com/aelfblockchain/status/1123259836555075584
Aelf Enterprise is tailored for developers. The platform allows developers to build and test Aelf based networks and d’Apps.
Lastly, the other platform set to release its mainnet in Q2 is XinFin which plans to go live on June 1 as per their Twitter post.
https://twitter.com/XinFin_Official/status/1133380066358906882
The year has been somewhat kind to cryptocurrency investors. A raging Bitcoin and subsequent rising cryptocurrencies are factors appreciated by traders.
Various platforms are also making improvements such as Aelf which just recently released Aelf Enterprise. This will see them attract even more developers to their unique platform.
There is still more in store for blockchain and cryptocurrency in 2019!
To learn more ælf about please use this link.
#aelf #DPoS #blockchain #stablecoin
Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advice in any situation. Please remember to DYOR before making any decisions.
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