Honest Mining Cryptocurrency Prediction 2020

Cryptocurrency Prediction 2020

How times have changed, there were only a handful of people who are interested and invested in the early phase of Cryptocurrency. Moving to the present time, and we have almost everyone who heard about it and interested to earn profits on a regular basis. To help you guide in the dynamic and volatile world of Cryptocurrency, as many companies release their own Cryptocurrency prediction in 2020, we will also share our prediction for Cryptocurrency in 2020:

The Continuing Rise of Crypto Lending Market, Proof-of-Stake (POS) and Bitcoin

The crypto lending and borrowing market thrived in 2019 and led by companies such as Genesis, BlockFi, and Celsius. We expect volumes will continue to significantly expand in 2020 across several areas. Traders are borrowing crypto to short and overcome capital inefficiencies, Investors is borrowing dollars using their crypto as collateral. Lastly, Crypto companies becoming de facto banks by taking stable coin deposits and making stable coin loan.

At the end of 2019, a growing number of crypto-exchanges and platforms added support for proof-of-stake (PoS) tokens, as well as for staking services that invest PoS crypto on the behalf of users. We predict such growth is set to continue in 2020, with analysts expecting more PoS projects to come online in the New Year.

Not only that, but analysts also expect the market for staking services to expand, in terms of the amount staked in PoS cryptocurrencies and also the number of staking services being made available. One thing that’s also likely to occur is more platforms are likely to begin offering a growing range of additional services, on top of the more basic service of staking like Tezos or Ethereum in their respective chains.

Bitcoin (BTC) was created early in 2009 and now it is still considered as one of the most popular Cryptocurrencies and grew up to 100 times as its current price. Bitcoin remains the leading indicator for the crypto market. According to its long term chart, BTC looks to be building a long term base. Experts like Mike Novogratz, the CEO of crypto investment giant Galaxy Digital, even anticipate BTC to end the New Year above $12,000.

The Governments will start embracing Cryptocurrencies

Changpeng Zhao, the founder of Binance, thinks numerous governments around the world will experiment with blockchain and their own digital assets. Obviously this trial and error method will have a varying result but nonetheless, they will have a positive effect on crypto adoption.

The cryptocurrency market is frequently changing from day by day. We are rapidly moving into the digital world, so the digital currency is also more important in that, whether you believe it or not, the crypto community continues making waves and gathering enthusiasts all over the world.

Defi Adoption slightly halted

On the other hand, we predict that the progress of Decentralized Finance (Defi) will be slightly halted. Defi is known as the most innovative developments in crypto and includes varying degrees of decentralized lending, derivatives, exchange, prediction markets, etc.

However, we predict that the 2020 breakout growth in this area is unlikely because these solutions simply do not solve problems better than centralized options, and each of the smart contract platforms has issues that will complicate an adoption.

Integration with Real World Applications

Up until now, the crypto and blockchain world has been pretty inaccessible and often viewed as a world that stands on itself. We believe that 2020 will be a crucial year in which crypto and blockchain move closer to the real world. Sooner or later, this will be applicable in the enterprise world where we will see ways to open up real-life data integrations with blockchain and crypto applications.

Cryptocurrency is vastly easier to store and secure using blockchain technology. The cryptocurrency market might experiences market optimism in 2020, as not only Bitcoin, but all the major cryptocurrencies might experience an upward trend.

So Stay tuned, and keeps on following our blog to get the latest updates on the crypto market.

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