The Future Of Crypto Currency
The Future Of Crypto Currency
Ever since Bitcoin appeared on the market, people have always asked themselves where will the cryptocurrency craze go. And the reality is that for many years there was no real way of figuring out what will happen, until a year ago when the Bitcoin prices exploded. And the same thing happened for other currencies. The challenge that came from this is you never knew when the price increase would stop.
And then the Bitcoin prices reached more than $17000. At that point, people through a bitcoin will eventually get past the $20000 or even $30000 mark in a year. Yet a sudden crash halved the price, and right now the price is around half that. Of course, some of the other cryptocurrencies didn’t have to deal with such a major crash, but it’s safe to say that most of them encountered a few issues from a pricing standpoint.
What can we expect from cryptocurrencies in the next few years or even deeper into the future? That’s hard to say, mostly due to the volatility that they bring to the table. The price is low at one point, but it can easily increase, and that will be a problem. You can’t invest in cryptocurrency unless the prices are stabilized, and you know the result or at least estimate it.
There’s increasing scrutiny when it comes to cryptocurrency too. The reason why cryptocurrency isn’t as popular as it should be is because a lot of people used it for illegal activities. It’s hard to figure out what transactions are made, who sent money and who received it. Which means cryptocurrency is perfect for smuggling, drug peddling, money laundering and weapons procurement. In the past few years, more and more countries started to acknowledge the issue and they started to scrutinize this more than ever before.
Another issue that is challenging for a person is that cryptocurrencies are mostly present digitally. So if there’s a crash and the system is not able to give you the money back anymore, you can end up being broke.
However, these are problems that will eventually be solved in the long run. Our society is still a long way away when it comes to using only digital currencies. But the good thing is that more and more stores are accepting digital currencies, and that’s an amazing thing that will only help boost the reputation brought by cryptocurrencies in the first place.
We can also expect cryptocurrencies to have better regulations. It’s hard to say if these transactions will still be anonymous or not, but what we do know is that people are going to continually focus on using cryptocurrencies. They don’t require you to use any cash, and there’s quite an extraordinary security level that you can get from stuff like this.
In conclusion, cryptocurrencies can have a bright future. But it all comes down to the way we regulate them and how well they will be accepted by our society. The potential is huge, and hopefully cryptocurrencies will help shape a powerful digital economy at some point in the future!