Experts believe that the next Bitcoin halving is the most anticipated event. The proposals to improve the security of the network, Taproot, and Schnorr, also arouse expectations.
In 2019, one decade after the birth of Bitcoin, the pioneering cryptocurrency registered the best performance among financial instruments. For that reason, expectations about its evolution are maintained. Some Latin American Bitcoin specialists presented their projections about the possible trends that will attract the attention of bitcoiners in the next 12 months.
They commented on the aspects that they consider most prominent regarding both Bitcoin and the world of crypto assets. They also evaluated the elements that will set the trend in 2020, so they agree that one of the events that will define the main cryptocurrency will be its next halving in May.
Mt. Gox Payment should occur in 2020
Santiago Molins, from Argentina, said that he will keep track of the pending reimbursement to creditors that lost bitcoins from Mt. Cox. The legal process surrounding the defunct crypto exchange, which collapsed in early 2014, remains in place.
Molins expects the payment to Mt. Gox creditors to be resolved this year since it involves a tremendous amount of bitcoins that could come on the market. It should be noted that this has been one of the most relevant cases throughout the history of cryptocurrencies.
The expert said that he will also be closely following developments in Bitcoin technology and the soft fork called Schnorr + Taproot, which was scheduled for late 2020 or early 2021.
The DeFi World Will Be Taken
The Argentine software developer Diego Gurpegui believes that the DeFi world will continue attracting attention, in Latin America and in general, to the cryptocurrency ecosystem in 2020. He is convinced that this year the extent to which decentralized products will remain current and functional, and how they will do so, will be defined.
For Gurpegui, Bitcoin’s halving will be one of the most important events this year, considering that the issuance rate will be halved, which arouses expectations about how the price will react to it. However, he stated that many believe that the market has already considered this event and that no immediate shock will be seen.
Gurpegui believes that improvements in the layer-2 protocol, as well as in the main one, with the Schnorr + Taproot soft fork, will be decisive in 2020. Likewise, he mentions the importance of looking closely at the advances in Latin America in terms of wallets, products or services that have been laying the foundations for privacy, security, and usefulness during 2019.
The developer believes that close attention should be paid to Ethereum 2.0 since it represents a transcendental change in the network, mainly the variation to PoS (Proof of Stake) and Sharding, which touches on elements of the core of the protocol. Not everything will be seen in 2020 but there will be changes of great impact whose development will be interesting to see.
Regarding the most prominent events of 2019, the Bitcoin speaker for Latin America believes that a year for the construction and development of the network has just ended, not only from a technological point of view but also from a business perspective. On the one hand, he notes that the effort put into infrastructure solutions such as layer-2 Lightning Network, or parallel networks such as RSK or Liquid, increased.
By Willmen Blanco