What could affect the adoption of cryptocurrencies in 2019

The crypto industry has been on quite a roller coaster ride for the past two years. After the peak rush andhistorical maximum cost of about $20,000Bitcoin fell, then rose a little and more or less stabilized. Likewise, the ICO boom that attracted billions of dollars to blockchain projects and fueled the sector's rapid growth has fizzled out, and many of the services and apps that raised capital have failed or disappeared.

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Nevertheless, the industry still retained momentumdue to consumer and investor optimism and increased interest from institutional investors and enterprises. After the relatively weak 2018, 2019 seems like a year of great opportunities for cryptocurrency. A number of important announcements, events and factors, with a successful set of circumstances, can finally bring cryptocurrency to the masses. From the growth of cryptocurrency CFD trading to the advent of financial and banking instruments that facilitate cryptocurrency transfers and payments, these events can become decisive for the market in 2019.

Cryptocurrency CFDs enter the mainstream trading

Trading CFDshas become one of the most popular activities amongretail traders allowing access to a wide range of assets, often using leverage. Recently, some companies have added cryptocurrency CFDs to their platforms, providing a new entry point into the market while sparking interest from traders who have historically focused more on traditional assets.

For example, when researching its own platform, eToro found that almost73% of users registered from 2016 to 2018 invested in cryptocurrency CFDs. However, some companies are observingdecline in interest in cryptocurrency CFDs. For example, MTrading announced the cessation of the offer of cryptocurrency products, although so far this is more likely an isolated case.

Be that as it may, the cryptocurrency CFD market inIn general, apparently, I am ready to take the next step. Some existing cryptocurrency exchanges, such as CEX.IO, have announced the offer of cryptocurrency CFDs, which may be an important step for exchanges wishing to attract traders who are less familiar with the ecosystem and internal mechanisms of digital assets. When CFDs become more common in the industry, more traders who are not well versed in the blockchain will be able to access them, which will lead to higher volumes and a more lively ecosystem.

Cryptocurrency Penetrates Banking

One area where cryptocurrencies are stilllagging behind traditional markets - these are affordable tools for banking and taxes. Although cryptocurrency trading has become more popular, most investors have difficulty declaring their digital assets. Most countries where cryptocurrencies are popular and legal have developed laws to tax the income of cryptocurrency trading, but service providers have not provided easy ways to include them in tax returns.

However, several promising trends inthis area could signal much greater industry acceptance. Perhaps the most remarkable news is that one of the world's largest accounting firms, Ernst & Young launches tax tool for cryptocurrency reserves.Crypto-Asset Accounting and Tax Tool (CAAT)should help users calculate taxes on cryptocurrency income. A similar tax calculator was announced at the beginning of 2019. TurboTax Online in partnership with CoinTax.

No less important was the announcement of BlockFi cryptocreditorabout creating cryptocurrency interest accounts. These accounts, supported by Gemini's Winklevoss twins exchange, will allow users to earn interest on bitcoin or on air. If we add to this news the possibility of paying taxes by cryptocurrencies announced by the state of Ohio, then the simplification of banking is an incredibly positive sign for the growth of the cryptocurrency market.

Mainstream cryptocurrency applications continue to emerge

Last year, the network revived with news thatthat Starbucks is exploring the possibilities of cryptocurrencies, and in 2019 other companies may join the coffee giant in accepting cryptocurrencies. Starbucks is now the largest shareholder of Bakkt, the cryptocurrency platform through which payments will be accepted in coffee houses.

Likewise, companies like MicrosoftIntegrated cryptocurrency payments into such mainstream touch points as replenishing user accounts in games and entertainment services. Square payment processor announced that its terminals will be able to accept cryptocurrencies, and this is an important victory for the crypto industry.

The importance of integrating cryptocurrencies with these largecompanies should not be underestimated. Despite the rapid rise, the crypto industry still maintains a niche status, since most cryptocurrencies have limited applicability in real transactions. One of the main obstacles was the incredible complexity of paying with cryptocurrency. With the disappearance of such barriers, interest in the industry will be able to grow, which will contribute to its expansion.

Bitcoin ETF that never happened

One of the most controversial and controversial issues.in the cryptosphere last year, there was uncertainty around the Bitcoin Index Funds (ETFs). Although 2018 ended without a clear decision, the industry attempted in 2019, although they were unsuccessful. Now, NYSE Arca and Bitwise have submitted to the SEC yet another, another application, for a decision on the permission to trade on cryptocurrency exchange exchanges.

Many experts spoke about potentialthe implications of resolving bitcoin ETFs, which may be significant for the crypto industry. Institutional investors have signaled interest in the possibility of cryptocurrency ETFs, and their resolution may mean an influx of cash into the market. But most importantly, it will be another sign that the largest regulators have nothing against the crypto industry, which will give it legitimacy and trust.

Year of Opportunity

2018 was definitely bad for cryptocurrencies. After historical peaks in 2017, the industry lost ground and was forced to adapt. After a year of a bear market, it seems that cryptocurrencies are ready not only to stop falling, but also to continue to move forward and up. If the listed events had at least some positive effect, then in the near future cryptocurrencies can not only become popular, but also pave new tracks for mass adoption.