Undoubtedly, 2017 was the year of the cryptocurrency fever. We are not just talking about bitcoin , which has not stopped collecting headlines with profits capable of inflicting heart attacks, but also many other digital currencies such as ripple or litecoin , which, although it seems hard to believe, have had even higher revaluations percentage-wise.
The mere fact of owning an asset with the cryptocurrency label could have yielded a value of thousands of percentage points of profit for an investor, regardless of the technological protocol of the digital currency. However, during the last days of 2017, there has been a massive surge in sales.
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This great correction experienced in the last week is an indicator that market sentiment towards bitcoin and its sister cryptocurrencies is cooling and that this moderation could be the general trend of the market during the next year.
In addition, we are seeing as significant entities of what we might consider as ‘conventional economics’ are beginning to enter the world of cryptocurrencies. This same month, both CME and CBOE have begun to issue futures contracts on bitcoin; In addition, there are several financial organizations and even central banks that are beginning to adopt various technologies and officially support (or even issue) their own variety of cryptocurrencies.
As the acceptance of cryptocurrency in the traditional economy is increasing, we can see how the calm that will happen to the “crypto-storm” is coming.
In this way, we hope that the mindset of investors evolves from the current ‘free buffet’ to something more like a “gourmet” user of technology, where serious investors seek and demand the most promising and pioneering digital technologies. As a result of this change, smaller investors are also likely to try to gain a better understanding of the differences between different technologies.
In our opinion, one of those assets that could get more attention in 2018 is the IOTA (from the term in English “Internet of Things”), which we have written on previous occasions. The development that the founders of this cryptocurrency have achieved is remarkable, especially for having done it outside the protocol of the chain of blocks, using a technology called “Tangle”. In fact, the IOTA is the first cryptocurrency that develops a technology that is not blockchain, but also remains decentralized.
Because this “Tangle” does not depend on miners to verify transactions, nor does it need transaction fees, which allows even micro transactions, and unlike most blockchain-based currencies, the IOTA network requires a minimum amount of GPU / CPU (computing power) so that it can be managed on any home device.
We believe that these characteristics put IOTA on track to become “the next bitcoin”, but with more stability and less volatility. During 2017, IOTA “only” revalued by 450%, but managed to maintain a relatively solid growth rate with moderate and minimum measured maximums.
Currently, the IOTA is the sixth most popular alternative currency, with a market capitalization of 10.25 million dollars, and we believe that it will be placed in the top five by the end of 2018
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