Where will the second half of 2019 go? Forbes' 4 predictions for the blockchain industry

The first half of 2019 is an important time node in the history of blockchain development. Many important things happened, including:

1) Bitcoin prices bottomed out and rebounded, and the cryptocurrency market warmed up;

2) Bitcoin computing power hit a new high of 74.5 million TH/s, up 140% from the end of 2018;

3) Large financial and technology companies such as Facebook and JPMorgan Chase have flocked in;

4) Stablecoins are popular, and more and more institutions are trying to issue stablecoins;

4) Countries accelerate the construction of regulatory laws and regulations on cryptocurrencies;

5) Large companies such as IBM are accelerating the application of blockchain technology.

As financial and technology giants deploy blockchain, the cryptocurrency market has reversed the cold winter signs of 2018, and blockchain and cryptocurrency have shown a positive development trend.

The first half of 2019 has passed, how will the second half of 2019 develop? In this regard, Forbes released four predictions for the development of blockchain and cryptocurrency in the second half of the year: 1) Investors' interest in crypto assets will increase significantly; 2) Stablecoins will become more and more popular; 3) Blockchain "killer applications" will not appear; 4) US regulators will continue to "wait and see".

1. The US economic bull market will end, and investors’ interest in crypto assets will increase significantly

Currently, the U.S. economy is experiencing the longest bull run in history. But nothing lasts forever, and this economic trend will soon end.

In the eventual correction in the market, crypto assets will become the most attractive alternative to fiat currencies. Because they are unregulated, crypto assets are the best at retaining their value during economic turmoil.

When other currencies lose value, people may turn to blockchain to protect their savings and move money overseas, thus strengthening the technology’s influence amid broader economic woes.

2. Stablecoins will become more and more popular

Stablecoins have brought the cryptocurrency industry to a new stage. This new type of token can be traded with any crypto asset and can enhance people's confidence in unpredictable financial markets. In short, the value of stablecoins can be pegged to real-world assets such as the US dollar.

The Winklevoss brothers, founders of the crypto exchange Gemini, believe that stablecoins represent the future of cryptocurrencies because they make it easier for retail investors/retailers to accept crypto payments.

3) Blockchain “killer app” will not emerge

Since the advent of blockchain, investors and market participants have been talking about the “killer app” that will power this new technology. However, such an application has yet to emerge.

Blockchain technology can be extended to many fields and has diversified characteristics, so it cannot be limited to a killer application in a certain field. Bitcoin has almost become the killer application of this technology.

The existence of blockchain is not to improve any single experience, but to explore how to improve the performance and potential of technology. The world does not need a killer application, because blockchain is the killer technology, which will provide technical support for many powerful industries and creators of game rules.

4) US regulators will continue to “wait and see”

The United States has been at the forefront of innovation and investment during the Internet revolution, and most major market players either live in the United States or have built strong business in the United States.

While many other countries are contributing to the rise of blockchain technology, the United States will maintain its position as a leader in the development of the technology, and the conditions that make this a reality come from the "hands-off attitude" of regulators.

U.S. lawmakers will continue to maintain a "wait-and-see attitude" because the cost of making the wrong decision is still high. No one knows exactly where blockchain will go next, and no one wants to be the party that hinders its development.

Summarize

From Forbes's prediction of blockchain development in the second half of 2019, it can be seen that it is very optimistic about the future development. The current blockchain industry is still a niche market. In the first half of 2019, large enterprises and financial institutions entered the market, injecting funds and talents into the blockchain industry, laying a solid foundation for the development of the blockchain industry. In the first half of the year, countries accelerated the formulation of regulatory policies for the cryptocurrency industry and regulated the development of the cryptocurrency industry, which is a necessary stage for the industry to mature. With the investment of funds and talents, and the improvement of corresponding laws and regulations, the second half of 2019 will be a stage to consolidate the foundation of the industry and accelerate the application of blockchain technology to more fields. As for the price of Bitcoin, driven by the record high computing power and the expectation of "Bitcoin halving", it is expected to have a good performance.