What’s New in the Cryptocurrency Market in 2018?

Cryptocurrency is the new favourite word for investors and geeks.

It’s one of the most exciting commodities to invest with its high volatile nature belonging to one of the most developing software .i.e. Blockchain.

Over the past 6-8 months, we have seen cryptocurrencies reach to the best of their prices and to the least of their prices as well.

Bitcoin touched $19,000 mark in December 2017, Ripple touched $3.84 mark in January 2018 when Japanese government put their stamp of trust over it.

Other cryptocurrencies like Litecoin, Bitcoin Cash, Ethereum experienced the same heights in 2017.

But after these skyrocketing numbers, cryptocurrency market had a quick fall.

They maintained their momentum at the beginning of 2018 but their prices fell fast and hard after that.

Bitcoin leapt from whopping $19,000 to $7000 and Ripple leapt from $3.84 to $0.76.

In brief, they have had their share of ups and downs in 2017 but what holds in the market for cryptocurrencies in 2018?

Will they soar to their old as well as new heights? Or Will they come crashing down harder and faster this time?

I am sure you have had the same question in the past or whenever you hear Bitcoin, Ripple or Cryptocurrency word in the news it makes you question their existence and their future as well.

We study the cryptocurrency market and here’s our prediction for cryptocurrencies in 2018.

Present Momentum of Cryptocurrencies:

Before we go and discuss what’s in the future of for cryptocurrency, let’s take a look at what’s happening these days in the cryptocurrency market.

After hitting the lowest point of $7,000 over January, Bitcoin is back on a good pace with the current price of $10,209.

On 19th Feb, Bitcoin almost soared to $11,000 when the investors started putting their money and faith back in Bitcoin after the correction of a small technical error.

At this moment, the market capitalization of Bitcoin is fluctuating between $160 Billion to $170 Billion.

Whereas Bitcoin is catching up on its pace, Ripple is a bit behind currently valued at $0.96/ Per XRP.

Other Present Day Prices of Cryptocurrencies:

Currencies Highest Fell to (Lowest) Present Day
Ethereum $1,396 $697 $844
Litecoin $366 $143 $221
Bitcoin Cash $3,831 $784 $1,248

Cryptocurrencies went on to become one of the most expensive commodities of recent times before falling back to normalcy.

But the story doesn’t end here.

They are back on track to become the most expensive trading commodity there is!

And future predictions may have some concerns that you won’t like but the future for Cryptocurrencies seem to be brighter than ever.

Let’s discuss the future and the factors that will affect this new road for Cryptocurrencies.

Future Predictions and Affecting Factors:

Presently, the cryptocurrencies are not at their best or worst.

They are just picking up the momentum but the major hurdle they are facing is the government.

The governments aren’t legalizing the buying and selling of cryptocurrency and they are avoiding these volatile currencies at any cost. They are not ready to accept this unauthorized money exchange where they don’t have any idea about the transactions taking place.

Traditionally all the money you have is either in the bank or invested somewhere and banks are involved in these transactions where they can monitor your movements and your liquidity. They have all the information of one’s fortune.

This is known as the centralized system. Governed by a central authority.

Whereas Cryptocurrencies are decentralized currencies without any entity to govern the transactions. But that doesn’t make it unsafe for investing. A person has to complete a proper verification carried out by the network and are charged with standard transaction fees as well.

Limitations of Cryptocurrencies:

Cryptocurrencies being decentralized currencies where there is no government to manipulate and interfere with your monetary decisions and transactions are prone to many uncertainties as well.

Other limitations that cryptocurrencies presently face – such as the fact that one’s digital fortune can be erased by a computer crash, or that a virtual vault may be ransacked by a hacker.

Even though there are risks in buying cryptocurrencies as of now but in the future, they might not be so volatile.

All the above-mentioned limitations can be overcome in time through technological advances.

The irony of the cryptocurrency market is that they want to keep it decentralized but with the increasing traction worldwide it is possible that they will attract more regulation and government speculation.

Besides this, the merchants accepting cryptocurrencies as a payment option have increased but they are still in the minority part.

For cryptocurrencies to become globally accepted, they have to first gain universal faith and acceptance among consumers. However, their relative complex structure compared to regular currencies can become the reason for its unacceptance.

For cryptocurrencies to be a part of mainstream financial system, they have a long road ahead for them with such different criteria to satisfy.

First of all, It would be a huge challenge mathematically to elude the chances of hacking attacks and fraud and at the same time making it easier to understand and use for consumers.

Other issues they might face are: maintaining decentralized feature but at the same time having proper consumer safeguards and protection. Protecting consumers identification and providing total anonymity can encourage illegal activities like tax evasion, money laundering and steering clear from these can be the biggest challenge.

In regards to the future of Cryptocurrencies, Thomas Glucksmann of GateCoin told CNBC: “Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capital and major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year.”

He also added Bitcoin, the biggest cryptocurrency, could be “pushing $50,000 by December 2018.“


While the possibility of Cryptocurrencies skyrocketing again seems higher, there are slight chances that the decentralization feature of cryptocurrencies could cause trouble to the cryptocurrency market in 2018.

But despite these shortcomings, cryptocurrencies have taken the world by storm after 2013 and they have progressed a lot since its conception in 2009.

Recently, BlackRock, an investment giant, mentioned Bitcoin and its chance of being more acceptable globally in their weekly report.

They said, “Our bottom line: We see cryptocurrencies potentially becoming more widely used in the future as the markets mature.”

But at the same time advised keeping away from them if you can stomach complete losses.

These were our predictions for cryptocurrency market in 2018.

What are your thoughts regarding the prices and future of cryptocurrencies?

Do you think that the governments will be able to keep its hands off of cryptocurrency and let it bloom in the future?

Comment below and let us know what you think about the future of cryptocurrencies.

Author Bio:

Sam Makad is a business consultant at BigAI. He helps small & medium enterprises to grow their businesses and overall ROI. He loves to write about topics on customer service, the blockchain, new technology, and marketing.  You can follow Sam on Twitter, Facebook, and Linkedin.


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With Net Neutrality Rules Repealed, AT&T Gets Ready For Paid Prioritization

With net neutrality protections officially on their way out in a matter of weeks, AT&T is already beginning to unveiling plans to reshape the internet with paid prioritization schemes. The telecom giant, however, argues it has no intention of creating “fast lanes and slow lanes.” In a blog post published Tuesday, AT&T Senior Vice President […]
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Verifier Will Use Blockchain to Check and Confirm Any Data Without Your Involvement

Our time is one of distrust. A time when for each product there are thousands of scams aimed at deceiving users. According to the British report Annual Fraud Indicator, fraud causes massive damage to both private individuals and corporations. For example, in the UK individuals lost 140 billion pounds in 2017, while businesses lost about 40.4 billion pounds. For this reason, there are more stringent requirements for verification of data, requests, and documents. On one hand, this protects the user, but it also makes it much harder to undergo verification for those who, for whatever reason, cannot leave their homes.

This is where the new project Verifier comes in. The general concept is that from anywhere in the world you can access services to verify your identity, receive products, check information, and perform other actions requiring a verified person. Verifier agents will solve everything for you.

Verifier is an innovative verification technology appropriate for any kind of transaction, data transmission, or event. The speed, clarity, and security of this service is ensured by blockchain.

Simple Verification

All the services will be accessible through your smartphone after simply installing the app. The model is somewhat similar to the approach taken by ride-hailing services, where transactions are made directly between the customers and the service providers.

“Verifier exists as an end product, either as a mobile app or browser version, but what is more interesting is its potential as an open-source solution,” comments Alexander Dmitriev, the project’s CEO. “That is when the client can scale and change the system’s functionality to fit the requirements of their specific business. What matters is the result: accurate, fast, simple, and affordable confirmation of events, actions, and identities.”

This kind of service would be in demand both in the corporate sector and by individuals. In the former case, the primary customers would by financial-sector companies who need to comply with KYC procedures. In the latter case, it would be for people who do not want to be tied down to a specific location, but also want to have remote access and to receive services.

Now, you can trust, but verify – with Verifier!

How Does It Work?

The blockchain service Verifier is based on the secure transfer of data within the system, using a chain of linked transaction blocks. The token issuance is intended to fund the launch and subsequent scaling of the verification service. Verifier Tokens (VRF) are Ethereum-based smart contracts.

Token Distribution

Token Distribution

The total number of tokens in the system is 6,050,000. One token is equal to the minimum cost of a verification request in the Verifier ecosystem. 1 VRF = 10 USD. Therefore, the cost of receiving a loan at a bank or confirming an accident for an insurance claim will now cost about 10 USD.

When designing the service, the team gave a lot of thought to setting the price. After a thorough analysis of the verification sector, a decision was reached to enter the market with a more competitive offer than what is offered by current suppliers: the minimum price for conducting one verification is not to exceed 10 US dollars, while subsequent prices will depend on agreements between the customer and the provider.

The crowdsale will take place in two phases. The Pre-ICO has already been launched, and only a limited number of VRF will be offered during it, with a discount for early investors. The majority of the tokens will be offered in April of this year, as part of the main selling phase, the ICO.

Images courtesy of Verifier

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STK Gets Listed on KuCoin!

KuCoin is extremely proud to announce yet another great project coming to our trading platform. STK is now available on KuCoin. Supported trading pairs including STK/BTC, STK/ETH.

Please take note of the following schedule:

1. STK deposits and withdraw: 18:00 Feb 28, 2018 (UTC+8)
2. STK trading: 22:00 Feb 28, 2018 (UTC+8)

STK Introduction

The speed with which cryptocurrencies has entered the public consciousness over the past couple of years has been remarkable. In order to take the next step though, and gain widespread acceptance and use, the technology needs to be able to handle point of sales (POS) transactions. Once cryptocurrencies overcome the technical hurdles of settling some of the $22 trillion spent globally by consumers each year, their use will become ubiquitous. The major hurdle is one of time lag. The average confirmation time for a Bitcoin transaction is 10 minutes, far too long for everyday use. Even the 24 seconds that your average Ethereum transaction takes to settle is too long for POS purchases.

The STK platform, implemented through the STK wallet has developed the infrastructure to allow much faster transactions. It is built around their own digital multicurrency wallet, a liquidity pool of fiat currencies, and a system of opening individual State Channels for each transaction. The ecosystem is powered by STK tokens, their proprietary ERC20-compliant cryptocurrency registered to the Ethereum blockchain.

STK Official Website: https://stktoken.com/
STK Whitepaper: click here

Risk Warning: The cryptocurrency investment is a venture capital deal, it has 7 x 24 hours trading business model with no market close time. Please pay more attention to risky investment. KuCoin holds a strict system of censorship about all tokens deal, but we never take any liability for the investment behavior.

Images courtesy of KuCoin

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Texas Securities Board Issues Another Cease-and-Desist, This Time Against LeadInvest

This week, the Texas State Securities Board (TSSB) issued another cease-and-desist order: This time to a “company” called LeadInvest. The agency contends that LeadInvest fabricated its management team and illegally solicited investors for a cryptocurrency mining operation and lending program.

On February 26th 2018, the Securities Commissioner of the State of Texas, Travis J. Iles, signed and entered an emergency cease-and-desist order to LeadInvest, a suspicious cryptocurrency company with ties to Panama. At of today, the company’s website — leadinvest.net — redirects to bitcoinvest.de. It’s unclear whether the companies are affiliated in any way.

According to the order, the TSSB found the LeadInvest team to be fictitious: From advisors, to smart contract designers, to compliance attorneys. Headshots of supposed team members were taken from other websites (inducing stock-image websites) and names were changed. In most cases, the TSSB redacted the names of the actual people whose likenesses were misused.

LeadInvest also invented the McAllison Law Firm, using an image of members from a real law firm based in California. Further, the LeadInvest website highlighted its “CodeofEthics [sic] Association,” but the photograph apparently showing its members actually depicts Supreme Court Justice Ruth Bader Ginsburg gathered with other U.S. government figures, including Deputy Solicitor General Maureen Mahoney and former Solicitor General Theodore Olson.

The TSSB has a problem, though: Because of all these fictitious employees, the cease-and-desist order does not mention a specific person or group actually responsible for LeadInvest’s activities, which raises questions about the order’s enforceability.

According to the TSSB, LeadInvest offered a mining and fiat currency lending program. The website claimed that investors could expect crazy-high returns on their investments, and that the operation had already created more than 190,000 accounts and raised more than $177 million.

LeadInvest told investors that it intended to be fully compliant with relevant laws and regulations of the Cayman Islands, but the TSSB called this statement “materially misleading or otherwise likely to deceive the public.” Since the company was soliciting investors located in Texas, the Securities Board wrote that LeadInvest must, in turn, comply with the Texas Securities Act.

Ultimately, the TSSB concluded that the LeadInvest mining program and the LeadInvest fiat currency lending program are “securities,” as defined by Section 4.A of the Securities Act. The agency found that LeadInvest is violating section 7 and section 12 of the act, and is “engaging in fraud in connection with the offer for sale of securities.” The TSSB also asserted that the enterprise’s conduct threatens “immediate and irreparable public harm” — justifying the issuance of the emergency cease-and-desist order.

This instance is the state’s fifth crypto-related emergency cease-and-desist order. Earlier this month, DavorCoin was in the agency’s crosshairs. The TSSB alleged the company had been issuing unregistered securities with fraudulent and misleading information designed to lure and dupe investors. Sounds familiar, right? 

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Two UAE Investors Learned Bitcoin Isn’t a Get Rich Quick Scheme

Two first-time cryptocurrency investors shared their stories with The National on Wednesday, which illustrate that Bitcoin indeed isn’t the get-rich-quick scheme many people mistakenly believe.

‘ … What I Made, I Then Lost’

First up is a Pakistani investor named Mohammed, who first invested in the Bitcoin market in December 2017. Mohammed told The National:

I invested $10,000, made 30 percent and sold a week later. Then I put the whole $13,000 in again a few days later.

Mohammed then took out his money when the steep correction began in January. By then, however, it was too late. He’d already lost the 30 percent he initially made.

Not to be deterred, Mohammed took his chances on Bitcoin again after Chicago’s CME Group launched its Bitcoin futures contract in December. The results were not what he anticipated. Mohammed explained:

I knew that would give the currency respectability and there would be a flood of people buying for fear of missing out. It was a chance to make some money but what I made, I then lost. It was fun but I will never go near that stuff again.

 ... What I Made, I Then Lost

Mohammed’s story illustrates an important point which is lost on many digital currency investors looking to get rich quick — Bitcoin and other well-established cryptocurrencies like Ethereum, Litecoin, and Ripple won’t make you rich overnight. Rather, they’re long-term investments whose use cases have yet to be fully explored and utilized.

We’ve all heard stories of people who’ve mortgaged their house, bet big on Bitcoin, and then made massive gains. For each of those lucky gamblers, however, there is a sea of unlucky investors who’ve found themselves left holding the bag after buying in at all-time highs or not doing their due diligence. Don’t be the latter.

‘It Was a Bit Scary… ‘

The second individual who shared their story with The National is Fred, a British communications executive residing in Dubai, who actually took the time to study up on Bitcoin. He bought into the digital currency in November when it was $9,000 per coin, explaining:

I was very skeptical about the links with purchasing on the dark web and the lack of security with a central bank. But the more I read up on Bitcoin, blockchain and other cryptocurrencies, I realized it was more likely to have an impact in the future of business and offered a genuine and secure opportunity for peer-to-peer lending without the need for expensive fees or currency transfer rates.

Fred first invested $900, which he built up to $4,000. He, like many others, lost most of that when the correction hit. Fred explained:

When it spiked to $20,000 briefly, I thought about selling. Then it started to crash so I sold some at $15,000, with the profits paying for Christmas. It was a bit scary when it went as low as $5,000. There isn’t much history of cryptos to go on, but what there is suggests January usually sees a crash/correction and then a recovery, which is what’s happening now. I bought some more when it rose back […] so I’ve got about a third of a coin.

It Was a Bit Scary ...

Still, Fred’s down overall — but has the right attitude about it, telling The National:

Bitcoin is not far off returning to a price that will give me a profit again. It isn’t for the faint-hearted but I’ve got a clear figure in mind for its value when I exit. It’s a fun ride, but I’m aware it could all disappear overnight.

By doing your research, having a sound plan, and refraining from investing money you can’t afford to lose, you too can ensure your Bitcoin investments are “a fun ride.”

What do you think of these two UAE investors’ stories? Let us know in the comments below!

Images courtesy of Shutterstock, AdobeStock, Pixabay

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Blockchain Bringing Convenience and Control to the Hotel Industry

The next era of blockchain development is rolling out, with features like smart contracts and faster transactions making crypto much more than just a means of exchange. These simple features are making a lot of new business models possible. Smart contracts make many classes of transactions almost completely automated, removing any need for central servers and processing. This, in turn, removes the problems associated with centralization like central points of failure.

So automation and ledger technology make things more convenient and less risky. In almost every industry new tokens are being developed to bring these benefits to customers. In the hotel and accommodation space, Concierge is hoping to bring easy and secure transactions to the experience of booking and staying in hotels.

Same old centralization

Despite the progress of platforms like Airbnb that have opened up the range of offerings and even booking.com allowing easier comparison, booking hotels remain quite inefficient. It still involves a central actor moderating and running the marketplace transactions. Assuming the central system are even reliable (while still being prone to hacks), needing to run transactions through a central business process will always result in a delay. Credit cards and bank transfers take time.

Add to this the need for central oversight to remove and investigate fraud and you end up with a situation where the whole customer experience is slower, more expensive, and less secure than using a smart contract.

Ledgerising the hotel industry

The Concierge platform is almost simple in its functioning. It has a decentralized on chain marketplace which allows users to easily add their available rooms, and when a user enters the agreement with the service provider this is all backed up by smart contract and underpinned by the CGE token.

Automated transactions like these using a cryptographically backed currency presents a different league of speed and ease of use compared to centralized options like PayPal or credit cards.

Reviews, feedback, and disputes are all easier and more transparently handled because of the traceability of blockchain technology. This, in turn, makes for a more transparent and healthy marketplace.

These benefits will also extend to the other services offered on the platform: guided tours and similar activities. Reliable feedback is key to a good marketplace for these kinds of services (just consider the proliferation of fake reviews on sites like TripAdvisor), so it seems that this aspect of Concierge’s design could go a long way to improving the industry.

Platform design

In order to realize the efficiencies that blockchain can bring to the hospitality industry, the speed of transactions needs to be as rapid as possible. For this reason, the Concierge team have opted to use the NEO protocol to build their platform, which aims to have fewer issues in sending and confirming transactions.

The CGE token is based on this protocol and is on sale in the ICO from the end of March.

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