While there were market corrections in cryptocurrency market in 2018, everyone agrees that the very best is yet to come. There have been a lot of activities in the market which have changed the tide for the higher. With proper analysis and the right dose of optimism, anyone who is committed to the crypto market could make millions out of it. Cryptocurrency market is here to stay for the long term. Here in this article, we give you five positive factors that may spur further innovation and market value in cryptocurrencies.

1. Innovation in scaling

Bitcoin may be the first cryptocurrency on the market. It has the maximum amount of users and the best value. It dominates the complete value chain of the cryptocurrency system. However, it is not without issues. Its major bottleneck is that it can handle only six to seven transactions per seconds. Compared, charge card transactions average at few thousands per second. Apparently, there is scope for improvement in the scaling of transactions. By using peer to peer transaction networks along with the blockchain technology, it is possible to increase the transaction volume per second.

2. Legitimate ICOs

While you can find cryptocoins with stable value available in the market, newer coins are being created that are designed to serve a specific purpose. Coins like IOTA are designed to help the web Of Things market exchanging power currencies. Some coins address the problem of cybersecurity by giving encrypted digital vaults for storing the amount of money.

New ICOs are discovering innovative solutions that disrupt the prevailing market and bring in a new value in the transactions. Also, they are gathering authority available in the market with their convenient to use exchanges and reliable backend operations. They are innovating both on the technology side regarding using specialized hardware for mining and financial market side by giving more freedom and options to investors in the exchange.

3. Clarity on regulation

In the current scenario, most governments are studying the impact of cryptocurrencies on the society and how its benefits could be accrued to the community at large. We can expect that there may be reasonable conclusions as per the result of the studies.

Few governments are already taking the route of legalising and regulating crypto markets just like any other market. This will prevent ignorant retail investors from losing profits and protect them from harm. Abling regulations that boost cryptocurrency growth are anticipated to appear in 2018. This will potentially pave the way for widespread adoption in future

4. Increase in application

There is enormous enthusiasm for the application of blockchain technology in just about any industry. Some startups are discovering innovative solutions such as for example digital wallets, debit cards for cryptocurrencies, etc. this can increase the number of merchants who are willing to transact in cryptocurrencies which boost the amount of users.

The trustworthiness of crypto assets as a transaction medium will be reinforced as more people rely upon this system. Although Spice may not survive, they’ll positively contribute to the overall health of the market creating competition and innovation.

5. Investment from financial institutions

Many international banks are watching the cryptocurrency scene. This may result in the entry of institutional investors in to the market. The inflow of substantial institutional investments will fuel the next thing of growth of the cryptomarkets. It has captured the fancy of several banks and financial institutions.