Monthly Crypto Outlook: Focus to Remain on Security and Regulations...

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January was another sad month for cryptocurrencies. The market value of all currencies tracked by Coin Market Cap declined by more than $10 billion as confidence in the industry continued to wane. Bitcoin, the biggest crypto in the world saw its market value drop to about $60 billion.

The biggest news last month was about security in the cryptocurrencies industry. A report by Chainalysis revealed that two groups were responsible for cryptocurrency theft worth more than $1 billion. Another report from Carbon Black said that cryptocurrencies worth more than $1.1 billion were stolen in 2018 alone.

Security in the cryptocurrencies industry is always cited as a key hindrance for their adoption. If there is no safe mechanism for the storage of the currencies, no retailer will want to accept them. Furthermore, they will not be viewed as safe products for institutional investors. A silver lining for all this could be Fidelity, which announced that its crypto custodian services will come online in March this year. The service will be open to institutional investors and will provide a secure model for storing the crypto to minimize risk.

This month, investors will focus on the security of the cryptocurrencies especially after the theft that was announced in January. Perhaps, these reports will lead to calls for more regulations in the industry? Crypto traders have always viewed regulations negatively. However, if these regulations could help guarantee safety in the industry, they could be the catalyst that is needed to push the prices higher.

Another focus will be on Venezuela. Venezuela has been in the news a lot lately after the US and other countries moved to recognize the head of the parliament as the legitimate president. Venezuela matters to the cryptocurrencies industry because of the sanctions that have been placed on the country. To skirt the rules, many people have been known to use Bitcoins for transactions. Indeed, the country has recently published new laws intended to regulate the industry. The country is also known for its Petro Coin, which was intended to help avoid US sanctions in the oil trade.

Investors will also focus on several upcoming events. In Cyprus, Nakamoto’s Den will take place on February 19 - 20. The event will bring together participants in the industry from around the world. It will feature digital start-ups and post ICOs going head-to-head in a bid to secure ongoing funding from top investors. It’s set to be a real-time showstopper not to mention there will be plenty of influential speakers.

In the United Kingdom, the London Blockchain Week Hackathon will take place in London on February 8 - 14. This will be the fifth year for the event, which brings together the largest participants in the cryptocurrencies industry in London. Some of the companies that will attend the event are London & Partners, CEX, and ICO Bazaar.

Another event to watch out for will be the TABConf 2019 in Atlanta. The event will take place on February 8 – 10 and will feature leading American professionals in the cryptocurrencies industry. The event will be attended by regulators, scholars, entrepreneurs, and other stakeholders in  the industry.

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Information provided via press release


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