The cryptocurrency industry is far from where it was in the early days. These days, millions of people across the planet spend their daily lives all on blockchain and cryptocurrencies. Dozens of events worldwide attract investors that are seeking knowledge. We’ve seen the impact an event can have before, especially during the 2017 bull market where events led the market. Because of the potential impact, we would like to inform you of the upcoming events that are scheduled for this year to happen. If you already know something is coming up, you can start planning ahead and predicting what the possible outcome will be.
The uprise of centralized stablecoins
The main reason why cryptocurrencies were created was to stay away from third-party control. When you have your possessions stored on blockchains, you are the one that has access, no one else has. When it comes to money, for example, you now have the ability to perform anonymous transactions. However, making anonymous transactions is becoming harder by the day. In lots of countries, cash payments are limited to a couple of thousand euros, which brings you to digital matters. The problem with this digital matter is third-party interference. Banks, shops, governments can all see what kind of transactions you are making. To disrupt the technology that’s disrupting industries, governments like Chinese one are now actively developing their state stablecoins. This year could just be the year where a country or multiple release their digital currencies and force people to start using it. We have seen it in Venezuela, but this time it will be properly executed. The more control the government has, the happier they are.
Something that’s been lurking around the corner is the approval of Exchange Traded Funds by the American SEC. It’s basically a way for institutional investors to proportionally invest parts of their portfolio into Bitcoin or cryptocurrencies as a whole. As many attempts have failed in earlier years, the propositions are becoming more robust every time. Plus, the entire cryptocurrency market becomes more stable by the day. And, with more trust in the industry, the SEC will eventually realize that it’s not going to vanish.
Those who have been around for multiple years probably will remember what happened in 2017 and 2018 surrounding Consensus. It’s one of the biggest cryptocurrency/blockchain events across the entire world. It’s hosted in New York, the United States from May 11th till 13th. Earlier Consensus was the event where new coins were released, ICOs were announced and investors opened up their wallets to new opportunities. Meanwhile, investors who weren’t present at the event were patiently waiting for all the news to come out. When they did, you could see the prices of all kinds of coins increasing rapidly. This year, Consensus is home to lots of great speakers from all major companies. It’s sponsored by companies like IBM, Santander, Bakkt, and many others.
Ethereum 2.0 launches
As a runner up in terms of market cap, Ethereum has shown a strong presence ever since its start. The project was the leading force to the ICO bubble back in 2017 and it managed to reach a price 4 times higher than where it is these days. Meanwhile, development has never stopped, and the founder and genius mind behind the project, Vitalik Buterin, is busy plotting the next release. This release will be Ethereum 2.0. It will be the moment the Ethereum blockchain switches from a Proof-Of-Work consensus method to a Proof-Of-Stake. This will mean that you can now stake your Ethereum and earn a reward for simply holding your tokens. This will create more scarcity and utility to the token, which might lead to an increase in price. Now, nothing is guaranteed in this world but one thing is for sure: lots of people are stacking up on Ethereum!
The Bitcoin halving
The event that everyone’s been getting excited about for the past months is the Bitcoin Halvening. It’s the event where the reward for BTC miners gets cut in half. We’ve discussed the event in a prior blog post, so we won’t go into much detail. All we can say is that many people are expecting Bitcoin to make some major moves around the halving. It’s scheduled for mid-may this year, so expect some fireworks around this period! The hashtag #StackingSatoshis has been trending for a long time on crypto Twitter, so maybe you should do the same!
When looking at the events for the upcoming year, it’s safe to say we are up for a revolutionary year. It will be a year with many changes and possibly the year where we will see another bull run happening, the one that we’ve all been waiting on since the end of 2018. We will keep you posted on everything that’s happening around these major events. But always make sure to stay on top of things yourself as well, all of these events might affect the price of Bitcoin and many other cryptocurrencies!