2019: The Year Bitcoin Will Implode

by CryptoCheets — on

In the business world, it is usually accepted that businesses and industries are to be disrupted every 7 to 10 years. The cryptocurrency industry is no different, and in a matter of time, Bitcoin will reach a point of inflection due to the variety of difficulties its system is facing.

First of all, it is no secret that Bitcoin has had the first mover advantage for several years now. However, the amount of Bitcoin's underlying issues has been continuously rising, and the solutions proposed by the developer teams might not attain their full potential as fast as we think. To make these changes happen there needs to be a severe market disruption dethroning bitcoin.

Several details are pinpointing to the fact that an imminent crash is no longer inevitable. Raising transaction times and costs for Bitcoin are one of the leading indicators that this currency is no longer capable of supporting the actual level of demand. While there is still room for future performance, the network should be unable to support itself by 2019 if the flow of new customers remains constant.

On top of this, new and more powerful cryptocurrencies are coming into the game, and one of them will eventually replace Bitcoin as the main decentralized currency. The chances are that it might be one of the Bitcoin's hard-forked currencies. Or maybe not. One of the reasons behind this would be the several integral issues that Bitcoin has. As mentioned before transaction times, costs, network congestion and, on top of this, a lack of supreme anonymity make Bitcoin vulnerable to other cryptocurrencies.

But Don't Be Afraid

With CME announcing Bitcoin futures at the end of Q4, the industry, in general, will witness a tremendous inflow of industrial money. Billions of dollars from hedge funds and other institutions will be invested in cryptocurrency in a matter of months, having an amplifying effect on the prices. Thus, the potential for an even more significant crypto-boom in 2018 is tremendous even if hedge-funds only tip their toes in cryptocurrency.

But yet again, how will these investors react to the plethora of different 'bitcoins'? Most probably, due to the lack of clear understanding, they will not initially pay attention to anything other than the real bitcoin itself and Ethereum (due to its important media coverage). However, once they start feeling the burden of using an aging currency in a fast-paced industry, they will quickly start looking for convenient alternatives. Which one will it be? It's up to you to decide, but know that the successor will be there for the years to come.

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