Last year’s massive bullish run in the cryptocurrency market turned bearish by the start of February 2018. This opened the industry to prying eyes of regulators and authorities across the world. In 2017, the Chinese government banned the launch of ICOs in the country and closed down multiple cryptocurrency exchanges. Some months later, the SEC was in on the act banning participation of ICOs in the country too. Bitcoin ETFs are yet to be approved by the SEC as governments across the world continue to issue statements against the digital assets.
As the hostilities against cryptocurrencies continue, governments are yet to figure out how to deal with privacy coins. These coins obscure your transactions when recorded on the blockchain. Unlike Bitcoin, privacy coins are not recorded on a public ledger which undermines governments’ regulation efforts. However, in 2019 (termed the regulation year of crypto) these privacy coins are on to a bull run if tougher regulations on cryptocurrencies take place.
Tougher rules on privacy coins in countries like Japan where they plan on banning encryption enhanced tokens on exchanges will greatly reduce supply. As supply reduces and the adoption of cryptocurrencies continues to increase, the price of privacy coins will boost exponentially.
This offers a strong case to have privacy coins in your 2019-2020 investment bag as we expect a number of rules to be implemented across governments during the period.
Buy price: $49.67
Total Trade Amount: $1000