As non-profit cryptocurrency research institution CoinCenter's Neeraj K. Agrawal wrote, 2017 was the year in which bitcoin and cryptocurrencies went mainstream.
Numerous major financial institutions have integrated support for Bitcoin, with elite investment banks like Goldman Sachs contemplating the creation of Bitcoin trading desks in 2018. The Chicago Options Board Exchange (Cboe) and CME Group, The world's largest and fastest-growing markets, Bitcoin futures trading last month.
Things to look out for in 2018 in #Bitcoin:
1. Nasdaq Bitcoin Futures
2. NYSE Bitcoin ETFs
3. Cboe Bitcoin ETFs
4. Scaling / Lower Fees
5. More Adoption Due to ↑
6. Many Billion of Institutional Money Coming to Bitcoin / Crypto
No wonder analysts are so optimistic!
– Young Joseph (@iamjosephyoung) December 26, 2017
The New York Stock Exchange (NYSE ), the biggest stock market in the world of daily trading volume, has applied two Bitcoin-related exchange-traded funds (ETFs). Cboe has applied to launch six such ETFs themselves. Bitcoin futures are closely regulated by the Bitcoin market. Bitcoin ETFs, on the other hand, will provide easy access to Bitcoin for retail investors and some classes of institutions that do not trade on the future market.
In March 2017, as Cointelegraph reported, the US Securities and Exchange Commission (SEC) rejected a Bitcoin ETF filing submitted by the Winklevoss twins, the first confirmed billionaire Bitcoin investors, because of the Bitcoin market's lack of regulation. However, the global Bitcoin market and its regulatory landscape have drastically changed since then. The Japanese government recognized Bitcoin as a foreign currency in the United States (19459003)
Most importantly, the SEC opened the door for approval of a Bitcoin ETF in the future Bitcoin future markets should be developed. As such, it is highly likely that Bitcoin ETFs will be approved in 2018, given that Cboe and CME have had the same origins as Bitcoin (19459003)
Mainstream news publications around the world have drastically increased their coverage of Bitcoin and other major cryptocurrencies in the last year. Several news publications, including CNBC and Forbes, have created cryptocurrency-specific media channels.
In some countries, cryptocurrency mania has formed , as investors of all ages have begun to engage in Bitcoin and cryptocurrency trading. In South Korea, speculation around the cryptocurrency market has reached a point in which the South Korean Prime Minister Lee Nak-yeon
a few months ago, the South
[United Kingdom] [English translation] Gov't will impose regulations based on global trend
2. Special cryptocurrency law drafted, * exchanges not compliant with policies * can not operate.
3. Open towards Bitcoin / blockchain technology development
– Joseph Young (@iamjosephyoung) December 28, 2017
Extraordinary rise of altcoins
Over the past few months, the entire cryptocurrency market has experienced a drastic trend-shift as altcoins have surged in value. The "Bitcoin Dominance" metric has reached an all-time low of 37.3%, indicating that the number one cryptocurrency now accounts for just one third of the market cap of the entire digital currency sector. While there is some controversy over the use of market cap numbers to estimate the size of the market, it is clear that Bitcoin is no longer the only major player. Alternate digital currencies like Ethereum and Dash have increased in value over 100x in the past year
Ripple in particular had a spectacular rally throughout 2017, as its value skyrocketed from $ 0.006 to $ 2.38, a 360-fold increase. While its current $ 88 billion market valuation is being questioned by Ryan Selkis from ConsenSys, it still remains the second largest digital currency by market