From Bitcoin to Ethereum, many in the European business world will have heard of cryptocurrency. This entirely digital form of money has grown in popularity since being first developed and can now be used on a global scale. Whether you plan to invest in this sector or make cryptocurrency part of what you do, knowing the major trends in the market is vital. This will help you to make the correct decisions around crypto and have a decent understanding of how it all works. With 2019 now just a memory, it is the ideal time to review what happened in this sector during that year. What were the big trends to take note of?
Crypto trading robots
A trend that hit the crypto market in 2019 was the rise in popularity of trading robots. If you have never come across these before, there are lots of places online to learn more about crypto trading with these handy pieces of software. Using computer programs to trade in this way is not a new thing and has been part of the forex market for a while. 2019 really saw it take off in the crypto trading space though as more businesses new to digital currency began to use it.
Using a trading robot helped businesses not experienced in cryptocurrency to trade successfully and reduced the amount of time they spent on doing so. Once the robot has been set up with the parameters it will use, you can simply get on with your core work and let it handle investing for you.
Bitcoin had an awesome year
Bitcoin is still the premier coin in the whole crypto sector and as such is used as a barometer on how the sector is faring. The trend around Bitcoin in 2019 was very positive overall and saw some traders make a ROI of 200% and over by the year’s end. The upward trend around Bitcoin in 2019 saw it reach highs of $13,000 at one point and it had a great year overall. This was particularly pleasing for BTC investors as 2018 had not been as good in general. The return to form in 2019 of Bitcoin was a major story .
A move toward futures trading
Although the futures market in crypto started in 2017, it was 2019 which saw it emerge as a trend in the sector. That was down to the market itself experiencing large growth in the last 12 months and the major exchange platforms allowing futures to be traded. Some, for example, even offered futures on Altcoins which had decent liquidity. Many businesses and personal investors have moved towards futures trading in crypto as it allows them to invest in a different way than normal trading. It seems certain that this will continue to grow in 2020 carrying on the increased exposure it saw during 2019.
Fintech and Blockchain
Another trend in 2019 for crypto saw the Blockchain technology that underpins it gain major attention. Many financial institutions realised how useful the secure DLT tech used in Blockchain could be for them and started to look at how they could integrate it into their services. This led to the FinTech sector seeing major growth in 2019 as more companies developed systems which used Blockchain to offer secure transactions.
Better education around crypto
Last year also saw a trend towards better education around crypto in the mainstream. This allowed people interested in it to learn more and also brought it to the attention of the general public. The mainstream media exposure was significant in 2019 and helped crypto gain more followers. It also allowed it to build up its reputation and sense of authenticity as the year went on. From more seminars and events around the sector to more information on how crypto can be used in daily life, the trend for digital currency to go more mainstream in 2019 was a big one.
2019 was an epic year for digital currency
As the above indicates, 2019 really was a great year for cryptocurrency and there were some major trends to enjoy. Now that 2020 is underway, it will be interesting to see what happens in this sector in the coming 12 months and how it will change things. It therefore makes sense for any European business that is looking to invest in crypto or make it part of their services to keep an eye on how things develop.
Source: European Business Magazine