#Cryptocurrency markets are not off to a good start in 2018. Most markets have lost nearly half of their value during the first few weeks. This most recent dip has pushed the momentum back as well. Even so, analysts are convinced this year will be very bullish for all #cryptocurrency markets in the long run. Especially #Bitcoin may see some big gains.
All #cryptocurrency markets have seen major declines throughout the first seven weeks of 2018. Although Bitcoin showed some good momentum this week, most gains have been lost once again. Whether or not this is a #bubble effectively bursting, remains to be determined. However, there are still a few solid reasons as to why things may turn out for the better. Julian Hosp remains bullish on cryptocurrency for quite some time to come.
Especially where Bitcoin is concerned, things can still improve quite a bit. With new scaling solutions coming to the ecosystem, a lot of progress will be made. Segregated Witness is now enabled by default through the Core client. It has also become more convenient to use altogether. If this adoption rate improves, the #LightningNetwork has a fair chance of succeeding as well. For now, there is no official release date for the Lightning Network as of yet.
With a lack of #scalingBitcoin made a lot of headlines due to mounting fees. At one point, a Bitcoin transaction cost over $20. It is far from ideal, yet solving the problem is not all that easy. With #SegWit and LN, those fees should eventually come down over time. Only time will tell if this works as people expect it to. Moreover, the addition of smart contracts to Bitcoin through #Rootstock is something to look forward to.
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