Cryptocurrency has come a long way in the market since its first trade (Buying pizzas). Initially, when it was introduced in the market, nobody believed it to be true. But who has rode the first wave of the cryptocurrency market have been rewarded quite well?
Some of the initial investors of the cryptocurrency are now millionaires. You will be quite shocked to hear that the Cryptocurrency industry has produced more millionaires than any other industry in the part of the decade.
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Cryptocurrency and its history
Cryptocurrency has always been known for its volatile market. And this volatility has made what Bitcoin and other cryptocurrencies are right now. It was 2107 when the price evaluation of the Bitcoin was able to touch $20000. At that moment, people thought that the cryptocurrency might be the safe keep for their life savings. However, that dream was shattered when the price of bitcoin drops to $13000 next year. It shows that it is complicated to predict what will happen to the cryptocurrency trade in the future.
Future prediction of Cryptocurrencies
2020 has been a rough year for everyone. With the widespread of the COVID 19 pandemic, every one of forced to stay at their home. This extra time that people are getting in our hands is being used to learn something new. Some people are giving time to their recreational hobbies, some are learning new things, while some are learning the art of the trade market.
As time passes, the regulation of the cryptocurrencies is getting tighter. Countries like the USA, Canada, and China have accessed the use of cryptocurrencies. While on the other hand, countries like Mexico, Thailand, and South Africa have adopted themselves with Blockchain technologies. By looking at how both blockchain and Cryptocurrencies are being used rigorously by the countries, we can expect many good things to come in the future.
Here are things that you might look forward to.
Smooth regulation of the cryptocurrencies
Cryptocurrencies are gaining in popularity, especially among the younger generation. There are still people looking for different financial transaction methods but are not aware of the existence of the cryptocurrencies. One of the cryptocurrencies will reach every corner of the world, and we will be able to see more trading partners and transactional prospects. This way, the regulation of the cryptocurrencies will smooth up.
Government agencies will soon adapt to blockchain technology.
Currently, the countries are maintaining their separate database. However, we can expect that countries with SEC guidelines will start adapting to the cryptocurrencies to betterment their government. Every agency is linked with the other in one way or another. It is a matter of time when they all will agree on cryptocurrency. Seeing how every field is adopting to the blockchain technology. We can certainly hope for the same for the cryptocurrencies.
Integration of IoT
We are already living in a world of IoT. After the integration of the cryptocurrencies and IoT, we can expect great thing things without a doubt. With the recent IDC report, blockchain technology is expected to join hands with the Internet of Things.
The primary purpose of doing so is to provide a highly secure network to connect people and devices with IoT technologies.
Cryptocurrency exchange trading
The trading enthusiastic are looking for different platforms to increase their portfolios. Amid this search, they have found Cryptocurrencies as a great digital asset to invest into. With the future possibilities of new cryptocurrencies, traders have liked the idea of investing Cryptocurrencies. Initially, bitcoin was the only cryptocurrency that was used as crypto assets. But today you will find Ripple, Ethereum, altcoin as Bitcoin alternatives for Crypto investment.
Cryptocurrency will still be volatile
Despite taking severe measures to reduce the volatility of the cryptocurrencies, it’s volatility will remain unchanged. The reason why cryptocurrencies so profitable is due to instability. If the volatility of the cryptocurrencies is to be changed, its value will also take a fall.