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Category: How To
2019-01-24 12:31 PM
Another batch of "shocking forecasts" for 2019

Analysts predict a rapid collapse of the bitcoin exchange rate in 2019 and the strengthening of influence on the cryptocurrency markets of Russia and China. Among other things, they say that Europe is going to face a new political crisis, and the US dollar is going to lose its global financial leadership. In short, incredible things. Of course, we are most interested in the future of cryptocurrency.

The forecast that Bitcoin will grow to $60.000 and then will collapse to $1.000 is not a hit. It seems that for the first time we saw something like this last year and we are still waiting for it to finally happen. But the forecast about the strengthening of influence on the crypto-currency market of China and Russia is quite interesting.

Let's start with China

China has become almost the first to show its interest in cryptocurrency. In just a few years, hundreds of mining farms appeared in China, and before the introduction of restrictions on the sale of cryptocurrency in the country, the lion's share of Bitcoin trading volumes was made by Yuan. At the end of last year, the government of the country imposed a ban on ICO and the circulation of cryptocurrency, at the same time there were rumors that China is going to launch its own cryptocurrency. The national cryptocurrency is needed to make international transactions bypassing the dollar. The Chinese government has been thinking about this for years. The first precedent of the national cryptocurrency was Venezuelan El Petro, the sale of which was launched in February 2018. It is quite likely that China will conduct this experiment in 2019.

In Russia, the situation is different

There is no talk about the creation of a national cryptocurrency here, and the issue with the regulation of the market is up in the air. Nevertheless, almost 50% of all ICOs in the world are launched in Russia. To predict how Russia may affect the future of the cryptocurrency market, you need to carefully look at what is happening inside the country. In Russia, there are several internal prerequisites for wider distribution and use of cryptocurrencies. People in Russia, as surprisingly as it sounds, are accustomed to greater freedom than those in Europe. Many things connected with the business, the Russians do cutting governmental corners. People get a "gray" salary, conduct small business without registration of a legal entity and do not pay taxes. Now the government begins to fight against illegal small business, self-employment and gray salaries. To do this, taxes are imposed on the transfer of large amounts of money from card to card, banks are allowed to write off money from the cards of debtors without the consent of the owner or, for example, there are some plans to bind mobile phone numbers to the passports of the owners (such a bill is being discussed). Knowing the freedom-loving nature of Russians, we can assume that people will look for other ways to make transactions bypassing the government and banks. And one of these ways is transactions in cryptocurrency. Therefore, we think that in 2019 the turnover of cryptocurrency will significantly increase in Russia. That will be a powerful incentive for the development of blockchain technologies. This will have an impact on the world market of cryptocurrencies.

Another point is that if the Russian government also starts using cryptocurrency for international transactions, it is likely that the country will introduce a ban on the circulation of unauthorized virtual money.

In a rapidly changing world, even the most improbable forecasts can become a reality. We think that in 2019, the cryptocurrency market will face a great shock.

Another point is that if the Russian government also starts using cryptocurrency for international transactions, it is likely that the country will introduce a ban on the circulation of unauthorized virtual money.

In a rapidly changing world, even the most improbable forecasts can become a reality. We think that in 2019, the cryptocurrency market will face a great shock.

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