November 30, 2023

The most anticipated events on the cryptocurrency market in 2020

The most anticipated events in the crypto market in 2020

The next year promises to be rich in important developments that will help the crypto market mature and gaingreater acceptance. We present a list of the four most notable events and trends that can change the crypto industry in 2020.

Bitcoin Halving

The most significant event thatwill happen in 2020 – reduction of the reward for the mined block in the Bitcoin network (BTC). Halving has already taken place twice, and each time the result of this event was a sharp price movement.

There is a general consensus that lower supply increases the price. However, historical data demonstrates that the price of military-technical cooperation can either reach new levels or fall. 

Launch Libra

Another important event that can radicallyinfluence the crypto market, this is the Libra – stable coin project announced by Facebook this year. Although the stablecoin will not be available until at least the summer of 2020, its launch could be the trigger for global adoption and adoption of cryptocurrencies. If the confrontation with regulators is successfully resolved, many companies will be able to follow the well-trodden path of the social network.

Central Banks Digital Currency (CBDC)

Central banks around the world are consideringthe ability to issue your own digital currencies (CBDC). According to the latest data, more than 70% of central banks are actively studying blockchain technology and are considering the possibility of issuing a CBDC. 

Sharp rejection and criticism of the digital form of moneyreplaced by recognition of the positive impact of digital currency on financial stability. Central banks are ready to replace traditional payment systems with transactions based on blockchain technology.

The most famous CBDC projects areUruguay Electronic Peso, China DCEP, Thailand Wholesale CBDC, E-krona Swedish Project, Turkey Digital Lira, Singapore Ubin Project and Digital Euro. The CBDC release could forever change the international financial infrastructure.

Telegram Open Network

The TON network is a decentralizedsupercomputer and value transfer system. The relatively short transaction time and high level of security make TON a potential alternative to such giants as VISA/Mastercard. 

Recall that due to litigation withSEC project investors voted to postpone the launch date of the network to April 30 of next year and refused to return the invested funds until the dispute with the commission is resolved.